Welcome to our dedicated page for Atkore news (Ticker: ATKR), a resource for investors and traders seeking the latest updates and insights on Atkore stock.
Atkore Inc. (NYSE: ATKR) is a manufacturer of electrical products for commercial, industrial, data center, telecommunications, and solar applications, and it regularly issues news and updates that are relevant to investors and market participants. The company’s disclosures highlight its focus on electrical infrastructure and related safety and infrastructure solutions, as well as ongoing portfolio and strategic reviews.
News about Atkore often includes quarterly and annual earnings results, where the company reports net sales, segment performance for its Electrical and Safety & Infrastructure segments, adjusted EBITDA, and other financial metrics. These releases may also discuss factors affecting results, such as changes in average selling prices, sales volumes, input costs, and the impact of divestitures or strategic actions.
Atkore also publishes announcements about strategic actions, including updates on its review of strategic alternatives, potential portfolio changes, and cost-reduction measures such as consolidating manufacturing facilities. Additional news items cover dividends and capital allocation decisions, such as quarterly cash dividend declarations and share repurchase activity, as well as financing developments like the refinancing of senior secured term loan facilities.
Other company news can include governance and Board-related updates, such as cooperation agreements with investors, the formation of Board committees like the Strategic Review Committee, and the appointment of new directors. Atkore also announces upcoming earnings release dates, conference calls, and investor conference participation, providing details for investors who wish to follow management’s commentary. This news page aggregates such items so readers can review Atkore’s financial updates, strategic developments, and corporate governance disclosures in one place.
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.
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Atkore Inc. (NYSE: ATKR) announced it will release its 3rd Quarter Fiscal Year 2022 results on August 2, 2022, before the market opens. A conference call is scheduled for 8:00 a.m. (ET) the same day to discuss these results. Investors can access the live webcast through the Company's website, and a replay will be available post-call. The conference ID for participants is 5592214. This information is essential for shareholders and investors anticipating the financial performance of Atkore during this quarter.
Atkore has acquired United Poly Systems, a manufacturer of High Density Polyethylene (HDPE) pressure pipe, enhancing its product portfolio and manufacturing capacity. The acquisition aligns with Atkore's strategy to invest over $1 billion within the next few years, aiming to capitalize on growth opportunities in HDPE markets, driven by U.S. infrastructure legislation. This marks Atkore's fourth acquisition in FY 2022, with over $250 million allocated to M&A in the last six months, indicating strong commitment to expansion in key markets.
Atkore announced the acquisition of Talon Products, LLC, enhancing its product portfolio with patented non-metallic cable cleats designed for power distribution applications. The Talon Cable Cleats secure and support electrical cables, minimizing movement during emergencies. This acquisition allows Atkore to offer innovative, cost-effective solutions that improve worker safety and reduce equipment damage. The financial terms of the acquisition remain undisclosed, and Talon will continue its operations in Hammond, Louisiana.
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Atkore Inc. reported a robust fiscal 2022 Q2 with net sales of $982.6 million, a 53.6% increase year-over-year. Net income surged to $233.5 million, or $5.08 per diluted share. Adjusted EBITDA rose to $346.2 million, marking a 79.0% year-over-year increase. The company raised its fiscal year 2022 outlook for adjusted EBITDA to $1.25 - $1.30 billion and adjusted net income per share to $19.65 - $20.45. A significant share repurchase program has doubled to $800 million.
Atkore Inc. (NYSE: ATKR) announced it will release its 2nd Quarter Fiscal Year 2022 results on May 3, 2022, prior to market opening. A conference call will follow at 8:00 a.m. (ET) to discuss these results. Investors can listen in via the company's Investor Relations website. A replay of the call will be available for three hours post-call, lasting until May 23, 2022. This announcement underscores Atkore's commitment to transparency and investor engagement.