Atkore Stock Jumps On Q4 Beat, Upbeat Forecast

Atkore Stock Jumps On Q4 Beat, Upbeat Forecast
  • Atkore Inc ATKR reported fourth-quarter FY22 sales growth of 11.4% year-on-year to $1.03 billion, beating the consensus of $981.80 million.
  • The gross profit climbed 16% to $414.5 million, with a margin expanding from 38.7% to 40.3%.
  • Selling, general and administrative expenses rose 29.3% to $107 million.
  • The operating margin was 28.8%, and operating income for the quarter rose 11.6% to $296.8 million.
  • The company held $388.7 million in cash and equivalents as of September 30, 2022.
  • Adjusted EBITDA increased 11% to $325.1 million.
  • Adjusted EPS of $5.52 beat the analyst consensus of $5.08.
  • Outlook: Atkore sees FY23 adjusted EPS of $13.10 - $14.90 versus an estimate of $13.31.
  • The company expects Q1 adjusted EPS of $3.85 - $4.20 versus an estimate of $2.53.
  • The company expects a long-term fiscal 2025 Adjusted EPS target of greater than $18.00.
  • Price Action: ATKR shares are trading higher by 14.14% at $115.25 on the last check Friday.

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