ATKR News & Events

Backs FY26 adjusted EBITDA view $340M-$360M.

Reports Q2 revenue $731.4M, consensus $710.93M. "We were pleased with our second quarter results. We delivered approximately 5% year-over-year organic volume growth and solid productivity gains. In addition our net sales, Adjusted EBITDA and Adjusted EPS all improved sequentially versus our first quarter results," said Bill Waltz, Atkore President and Chief Executive Officer. "These operating results reflect improvements from our own internal initiatives as well as benefits from solid end-market demand." Waltz continued, "Over the past few months, we have also completed several actions related to our broader review of strategic alternatives. We have now finalized the three plant closures previously announced, and we have recently divested both our High-Density Polyethylene Pipe & Conduit ("HDPE") business as well as our surface protection and powder coatings business in Belgium. Each of these completed actions represent our commitment to support the electrical infrastructure market which we believe will enable long-term shareholder value creation."

Atkore announced the sale of its surface protection and powder coating business in Belgium, sold under the Vergo Galva and Vergo Coating brands, to ZINQ, a leader in surface technology serving diverse industries across Europe. As part of the sale, ZINQ will assume ownership of the Vergo Galva facility, located in Kruisem, Belgium, and the Vergo Coating facility located in Mouscron, Belgium. Atkore will continue to own and operate its existing facility in Oudenaarde, Belgium, that manufactures metal framing, cable support systems, and various other products that support the electrical infrastructure market. These products will continue to be sold under the Atkore Vergokan brand. Financial terms of the deal are undisclosed.

Atkore announced the sale of its High-Density Polyethylene pipe and conduit business to Infra Pipes, a North American leader in polyethylene pipeline solutions. "The sale of the HDPE business is part of our ongoing strategic review process, and reflects our commitment to disciplined portfolio management," commented Bill Waltz, Atkore President and CEO. "We also expect this transaction to be accretive to Atkore's overall financial profile for certain key metrics such as Adjusted EBITDA margins and Return on Invested Capital. This transaction further enhances our focus on driving growth around key electrical product offerings, targeted customers and strategic markets."