- 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.