Atkore Q3 sales beat on pricing strength, foreign exchange benefits

Atkore

03/08/2026 06:13

Overview
U.S. electrical products maker's fiscal Q3 sales rose 8%, beating analyst expectations
Adjusted EPS for fiscal Q3 beat analyst expectations
Company to be acquired by Prysmian for $95/share, valuing Atkore at $3.8 bln

Outlook
Company will not update or reaffirm previously issued financial outlook due to pending acquisition

Result Drivers
SALES VOLUME AND PRICING - Co said Q3 net sales growth was driven by increased sales volume, higher average selling prices, and foreign exchange benefits
LITIGATION SETTLEMENT - Net income decline was mainly due to $50 mln litigation settlement expense and related costs
INPUT COST PRESSURE - Gross margin and segment profitability fell as input cost increases outpaced gains in selling prices

Company press release: ID:nBw6drh5ka

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 sales
Beat
$794.80 mln
$761.23 mln (4 Analysts)
Q3 Adjusted EPS
Beat
$1.92
$1.56 (4 Analysts)
Q3 Net Income
 
$745,000
 
Q3 Gross Profit
 
$176.27 mln
 
Q3 Operating income
 
$63.99 mln
 
Q3 Pretax Loss
 
$5.56 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electrical components & equipment peer group is "buy."
Wall Street's median 12-month price target for Atkore Inc is $85.00, about 16.5% above its July 31 closing price of $72.96
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 14 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)