Atkore International Group Stock Earnings Reports

Atkore reported a strong Q2 FY2025: net sales of $702M, 5% organic volume growth, adjusted EBITDA of $116M and adjusted EPS of $2.04. Margins expanded sequentially to 16.6% driven by productivity and cost management (S&I contributed ~ $11M of productivity), even as average selling prices declined ~17% year-over-year (PVC and steel conduit led the decline) with sequential price improvement in steel conduit. Management took a $128M noncash impairment related to HDPE assets (partly driven by competing satellite broadband technologies and delayed government funding), producing a net loss of $50M. The company repurchased ~$50M of stock in the quarter and the Board raised the quarterly dividend to $0.33. Atkore reiterated full-year FY2025 guidance (adjusted EBITDA range $375M–$425M, midpoint noted at $400M; adjusted EPS $5.75–$6.85) and provided Q3 guidance (net sales $715M–$745M, adjusted EBITDA $85M–$105M, adjusted EPS $1.25–$1.75). Management is cautiously optimistic that recent tariff actions (including a 25% tariff on imported steel) will be a net benefit over time by supporting demand for U.S.-made steel conduit, but they retained a conservative view on near-term volume given macro uncertainty and seasonality, expecting full-year volumes closer to low-single-digit growth. The balance sheet remains healthy (no debt maturities until 2028; ABL refinanced and capacity maintained at $325M), and the company continues to prioritize a balanced capital deployment strategy (growth capex, buybacks, dividends).