Atkore Inc reports results for the quarter ended in June - Earnings Summary

Atkore

06/08/2024 14:30

* Atkore Inc  ATKR.N  reported quarterly adjusted earnings
of
$3.80​​ per share for the quarter ended in June, lower than the
same quarter last year, when the company reported EPS of $5.72. 
The mean expectation of six analysts for the quarter was
for earnings of $3.99 per share. Wall Street expected results to
range from $3.95  to $4.05 per share.
    * Revenue fell 10.5% to $822.36 million from a year ago;
analysts
expected $830.14 million. 
    * Atkore Inc's reported EPS for the quarter was $3.33​.
    * The company reported quarterly net income of $123.42
million.
    * Atkore Inc shares had fallen by 12.2% this quarter and
lost 26.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 7.6%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electrical
components & equipment peer group is also "buy"

Wall Street's median 12-month price target for Atkore Inc is
$179.00 
This summary was machine generated from LSEG data August 6 at
01:30 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      3.99           3.80           Missed
 Mar. 31 2024      3.82           4.08           Beat
 Dec. 31 2023      3.61           4.12           Beat
 Sep. 30 2023      4.08           4.21           Beat