Atkore Q3 sales down 10.5% to $822M; Adj EPS $3.80 vs $5.72; cuts FY24 outlook

Atkore Inc.

2024-Q3 EPS reported $10.61 revenue$2,413,756,000

Net sales $822.4M (-10.5% YoY); GAAP EPS $3.33 vs $5.13; Adj EPS $3.80 vs $5.72.
Electrical segment sales fell 14.1%, Adj EBITDA down 31.5%; Safety & Infrastructure sales up 1.6%, EBITDA up 39.8%.
Full-year FY24 Adj EBITDA outlook cut to $772-782M; Adj EPS outlook $14.30-$14.52.
Board declared $0.32 quarterly dividend payable Aug 30; repurchased $125M in shares during Q3.
CEO cites softer pricing environment, limited summer construction demand as headwinds.

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