Atkore gains on raising 2023 outlook, Q1 earnings beat

Atkore

01/02/2023 12:42

** Shares of electrical products maker Atkore Inc  ATKR.N 
up 6% at $138.13 in light premarket trade
    ** Stock will post another record high, if gains hold
    ** Co raises FY adj. EBITDA outlook to $950 mln-$1.1 bln
from $850-$950 million; 2023 adj. EPS outlook to $15.85-$17.75,
up from $13.10-$14.90
    ** Reports Q1 revenue of $833.8 mln and adj. EPS of $4.61,
topping Refinitiv est. of $818.45 mln and $3.98, respectively
    ** Four "buy" and one "hold" ratings on the stock; median PT
is $142.50
    ** Stock up ~15% in January after subdued performance in
2022
 (Reporting by Ankika Biswas in Bengaluru)
 ((Ankika.Biswas@thomsonreuters.com))