Atkore International ( (ATKR) ) has released its Q1 earnings. Here is a breakdown of the information Atkore International presented to its investors.
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Atkore International, headquartered in Harvey, Illinois, is a prominent manufacturer in the electrical and safety infrastructure sectors, providing products for non-residential construction and industrial markets.
The latest earnings report for Atkore International shows a decline in financial performance for the quarter ending December 27, 2024, compared to the same period last year. The company’s net sales decreased from $798.5 million to $661.6 million, and the net income dropped significantly from $138.4 million to $46.3 million.
Key financial metrics indicate that Atkore faced challenges during the quarter, including a reduction in gross profit from $290.5 million to $171.1 million and a decrease in operating income from $175.5 million to $67.9 million. Additionally, the company experienced a decline in net income per share, with basic earnings per share falling from $3.66 to $1.32. The report also highlights changes in foreign currency translation adjustments and a decrease in comprehensive income.
Looking ahead, Atkore remains committed to navigating the uncertain economic environment, marked by central bank interest rate changes and geopolitical tensions, while continuing negotiations with the United Steelworkers Union employees for a new contract. The company’s management is focused on addressing these challenges and maintaining operational stability.
