Atkore Q2 net sales down 8.8% to $895.9M; raises FY23 adjusted EBITDA guidance to $1,015-1,065M

Atkore Inc.

2023-Q2 EPS reported $8.52 revenue$1,729,755,000

GAAP EPS $4.31 vs $5.08 YoY; adjusted EPS $4.87 vs $5.39; net income down 25.4% to $174.2M.
Adjusted EBITDA $276M, down 20.3% YoY; Electrical segment EBITDA -22.4%, Safety & Infrastructure +14.8%.
Safety & Infrastructure volume grew 20% YoY, driven by solar-related products, mechanical tube, and construction.
FY23 guidance raised: adjusted EBITDA now $1,015-1,065M; adjusted EPS $17.45-$18.35.
Repurchased $119M in stock during Q2, plus another $103M in early Q3.

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