Atkore Reports Q4 Earnings Decline, Projects Future Losses

Atkore Inc. reported a significant decrease in net sales for the quarter ending December 27, 2024, with sales dropping to $661.6 million from $798.5 million the previous year, attributed to lower average selling prices and sales volume. The company's gross profit also fell to $171.1 million, down from $290.5 million, while net income dropped to $46.3 million from $138.4 million year-over-year. Despite a reduction in selling, general, and administrative expenses, overall financial performance was weak, leading to a forecasted earnings per share of $1.58 for the upcoming quarter. The Electrical segment experienced a notable decline in sales, reflecting broader challenges in the market. Analysts expect Atkore to release its earnings data before the market opens on February 4, 2025. The company’s balance sheet remains stable, with $310.4 million in cash and no outstanding borrowings.