Atkore Inc Stock Price, News & Analysis

Atkore Inc. announced the retirement of William (Bill) R. VanArsdale from its Board of Directors, effective December 28, 2022. VanArsdale, a board member since 2015 and Chair of the Human Resource & Compensation Committee, played a vital role in Atkore's transition to a publicly traded company. His retirement coincides with the appointment of Joanne Edwards to the Board, effective February 1, 2023, maintaining the board size at nine members. Atkore's leadership expresses gratitude for VanArsdale's contributions, citing confidence in the company's future success.

Atkore Inc. (NYSE: ATKR) has appointed B. Joanne Edwards as a director, effective February 1, 2023. This move precedes the mandatory retirement of a current director set for the January 2024 annual meeting. With Ms. Edwards joining, the Board will expand to ten members, nine of whom are independent. Ms. Edwards brings valuable experience from her previous roles, particularly at Eaton Corporation, where she excelled in growth and operational achievements. Her strategic insights are expected to significantly support Atkore's profit and growth strategies.

Atkore Inc. (NYSE: ATKR) announced that President Bill Waltz and CFO David Johnson will participate in a Q&A session at the Credit Suisse 10th Annual Global Industrials Conference on November 30, 2022, at 8:45 am ET. A live webcast will be available on the company's Investor Relations site, and a replay will be accessible until February 17, 2023. Atkore is a leading provider of electrical, safety, and infrastructure solutions, focused on building a sustainable future for its stakeholders.

Atkore Inc. reported strong fourth-quarter and fiscal 2022 results, with net income per diluted share rising to $5.18 and $20.30 respectively. Fourth-quarter net income increased by $18.2 million to $220.8 million, while adjusted EBITDA grew by 11% to $325.1 million. For the full year, net sales reached a record $3.91 billion, up 33.7%. However, the company anticipates a flat to 10% decline in net sales for fiscal 2023, alongside an adjusted EBITDA outlook of $850-$950 million. The Board has increased its share repurchase program from $800 million to $1.3 billion, expiring in November 2025.

Atkore Inc. has acquired the assets of Elite Polymer Solutions for $91.6 million. This acquisition is set to enhance Atkore's High Density Polyethylene (HDPE) conduit offerings, particularly in the telecommunications, utility, and transportation sectors. The move aims to expand Atkore's national footprint and meet the rising demand for underground protection in these industries. Elite Polymer Solutions is based in Lovelady, Texas, employing about 55 staff, and will continue operations at its current location.

Atkore Inc. (NYSE: ATKR) will announce its 4th Quarter FY 2022 results and FY 2023 expectations on November 18, 2022, before market opening. The company invites investors to a conference call at 8:00 a.m. (ET) the same day to discuss results, growth strategies, and long-term outlook. A replay will be available post-call until December 2, 2022. For more information, visit the Investor Relations page.

Atkore Inc. (NYSE: ATKR) announced that President and CEO Bill Waltz, alongside CFO David Johnson, will present at the Baird 2022 Global Industrial Conference on Wednesday, November 9, 2022, at 10:40 am Eastern Time. The event will be accessible via a live webcast on Atkore's Investor Relations site. A replay will be available until February 7, 2023. Atkore is dedicated to delivering electrical, safety, and infrastructure solutions globally, with a commitment to fostering relationships with employees, customers, and communities.

Atkore Inc. announced the acquisitions of Cascade Poly Pipe & Conduit and Northwest Polymers, both based in Oregon. Cascade specializes in HDPE conduit made from recycled materials, primarily for telecommunications and utilities. Northwest Polymers, a key supplier, is a leader in recycling various plastics. These acquisitions enhance Atkore's product portfolio, supporting growth in 5G infrastructure and sustainability efforts. The company has invested over $310 million in six acquisitions within the fiscal year, ensuring continued focus on value creation for shareholders.

Atkore reported Q3 fiscal 2022 net sales of $1,061.6 million, a 24.4% increase year-over-year. Net income surged 45.1% to $254.3 million, while adjusted net income per diluted share rose to $6.07. Adjusted EBITDA climbed 37.7% to $377.5 million. The company anticipates a full-year net sales increase of approximately 32% compared to fiscal 2021, with updated adjusted EBITDA expectations of $1,322 million to $1,342 million. Atkore's strategic acquisition of United Poly Systems aims to enhance its capacity in high-growth markets.