Atkore Q3 2026 Earnings Report

Atkore EPS Results

• Actual EPS: $1.92
• Consensus EPS: $1.53
• Beat/Miss: Beat by +$0.39
• One Year Ago EPS: $2.17

Atkore Revenue Results

• Actual Revenue: $794.80 million
• Expected Revenue: $756.23 million
• Beat/Miss: Beat by +$38.57 million
• YoY Revenue Growth: N/A

Atkore Announcement Details

• Quarter: Q3 2026
• Date: 8/4/2026
• Time: Before Market Opens
• Conference Call Date: Monday, August 3, 2026
• Conference Call Time: 9:30AM ET

Atkore (NYSE:ATKR) is a manufacturer of electrical, safety and infrastructure products for the construction, industrial and commercial markets. The company supplies systems and components used to manage, protect and route electrical wiring and cable, as well as products that support structural and safety applications.

Its product portfolio includes electrical raceway systems, conduit, fittings, cable management products, wire and cable, mechanical tubing, framing systems, and related safety and infrastructure solutions. Atkore sells its products through distributors and other channels to electrical contractors, original equipment manufacturers, engineers, utilities and industrial customers.

Headquartered in Harvey, Illinois, Atkore operates manufacturing and distribution facilities serving customers primarily in North America, with an international presence. The company became an independent publicly traded business in 2016 following its separation from Tyco International. Bill Waltz serves as Atkore’s president and chief executive officer.

Atkore Q3 2026 Earnings Call Transcript

Key Takeaways

• Positive Sentiment: Atkore reported third-quarter net sales of $795 million, adjusted EBITDA of $105 million, and adjusted EPS of $1.92, with organic volume up 9% year over year and all three measures improving sequentially.
• Positive Sentiment: The electrical segment delivered strong performance, with sales rising 10.9% to $578.3 million and adjusted EBITDA increasing 10% to $89.3 million, supported by higher volume and pricing.
• Negative Sentiment: The safety and infrastructure segment remained a weak spot: adjusted EBITDA fell to $28.1 million from $30.7 million, while margin declined to 13% from 14.4% as divestitures and operating pressures weighed on results.
• Positive Sentiment: Atkore entered a definitive agreement to be acquired by Prysmian in an all-cash transaction valued at $95 per share, representing an enterprise value of approximately $3.8 billion and a premium-oriented liquidity event for shareholders.
• Negative Sentiment: A $50 million litigation settlement recorded in the quarter drove GAAP net income down to $0.7 million, or $0.02 per diluted share, from $43 million, or $1.25 per share, in the prior-year period; total settlements across the matter reached $186.5 million.

Presentation

[Operator]

Good morning. My name is Jeannie, and I will be your conference operator today. At this time, I would like to welcome everyone to Atkore's third quarter fiscal year 2026 earnings conference call. All lines are in a listen-only mode. I would now like to turn the conference over to your host, Matt Kline, Vice President of Treasury and Investor Relations. You may begin.

[Matt Kline, VP of Treasury and Investor Relations at Atkore]

Thank you, and good morning, everyone. Welcome to our third quarter 2026 earnings conference call. I am joined today by John Deitzer, our Chief Financial Officer. Given our announcement earlier this week regarding the acquisition of the company, we will not be taking questions today. This call is being held in accordance with the terms of the indenture governing our senior notes through 2031. Please refer to our recent SEC filings, including our Form 10-Q filed earlier this week, and our quarterly press release, which we will use as reference for this discussion today. In addition, any reference in our discussion today to EBITDA means adjusted EBITDA, and any reference to EPS or adjusted EPS means adjusted diluted earnings per share. Adjusted EBITDA and adjusted diluted earnings per share are non-GAAP measures.

[Matt Kline, VP of Treasury and Investor Relations at Atkore]

Reconciliations of non-GAAP measures and a presentation of the most comparable GAAP measures are available in the appendix to the previously mentioned earnings press release. With that, I'll turn it over to John.

[John Deitzer, CFO at Atkore]

Thanks, Matt, and good morning, everyone. Today I'd like to provide an overview of Atkore's third quarter fiscal 2026 results for the quarter ended June 26, 2026, and highlight the key drivers behind our performance. Before discussing the quarter, I want to acknowledge the announcement made earlier this week in which Atkore has entered into a definitive agreement to be acquired by Prysmian in an all-cash transaction valued at $95 per share, representing an enterprise value of approximately $3.8 billion. As Bill Waltz mentioned in the announcement press release, we are pleased to have entered into an agreement with Prysmian that delivers value to Atkore shareholders, and we believe our solid quarterly results and this transaction are a testament to our team's focus and dedication. Before I review the third quarter operating results, I'd also like to mention the following.

[John Deitzer, CFO at Atkore]

During the third quarter, we completed the divestitures of our high-density polyethylene, or HDPE business, and the sale of our surface protection and powder coating business in Belgium, both of which were announced last May. As you may recall, we also completed the divestiture of our Tectron mechanical tube business earlier this year. In addition, the company entered into a settlement agreement with the last of three putative classes in an ongoing litigation matter for $50 million. The combined settlements for all three classes were $186.5 million. Please note the payment for the third class of $50 million was made in the beginning of our fourth quarter. Turning to our third quarter performance, we were pleased with our third quarter operational results. To summarize, we achieved net sales of $795 million and adjusted EBITDA of $105 million. Adjusted EPS came in at $1.92.

[John Deitzer, CFO at Atkore]

All three metrics were sequentially better than our Q2 performance and an increase versus the prior year. Organic volume increased 9% year-over-year in the third quarter, with contributions from both our electrical and S&I segments. Turning now to the income statement, let me provide a bit more detail. Overall net sales increased 8.1% to $795 million, compared with $735 million in the same quarter last year. The increase was driven primarily by higher sales volume, which contributed $65.7 million, along with $22.4 million from higher average selling prices and $8 million of favorable foreign exchange impacts. These gains were partially offset by $39 million related to divestitures. Adjusted EBITDA increased 4.7% to $105 million, compared to $100 million last year, reflecting the improvement in gross profit and continued operational execution.

[John Deitzer, CFO at Atkore]

GAAP net income for the quarter was $0.7 million, or $0.02 per diluted share, compared with net income of $43 million, or $1.25 per diluted share in the prior year period. The decline was primarily driven by the previously mentioned $50 million litigation settlement expense. Looking at our segment results, the electrical segment continued to deliver strong growth. Net sales increased 10.9% to $578.3 million, compared with $521.3 million last year. The increase was driven by higher sales volume, favorable foreign exchange effects, and increased average selling prices, partially offset by the impact of divestitures. Adjusted EBITDA for the segment increased 10% to $89.3 million. Adjusted EBITDA margin was 15.4%, compared with 15.6% in the prior year. While volume growth supported earnings expansion, margin was modestly affected as higher input costs outpaced pricing improvements. In the safety and infrastructure segment, net sales increased 1.3% to $216.8 million.

[John Deitzer, CFO at Atkore]

Growth was supported by higher average selling prices, increased volume, and lower solar credit rebates, partially offset by the impact of recent divestitures. Adjusted EBITDA was $28.1 million, down from $30.7 million in the prior year quarter. Adjusted EBITDA margin decreased to 13% from 14.4%. Regarding cash and liquidity, the company ended the third quarter with $346.2 million in cash and cash equivalents. In addition, please note that on July 30th, 2026, the board of directors of Atkore approved a quarterly dividend of $0.33 per share. The dividend will be paid on August 28th, 2026, to shareholders of record as of August 18th, 2026. With that, thank you for your support and interest in our company. This concludes the call for today.

Participants

Executives

• Matt Kline, VP of Treasury and Investor Relations
• John Deitzer, CFO