HARVEY, Ill. — Atkore Inc. (the “Company” or “Atkore”) announced earnings for its fiscal 2025 third quarter ended June 27, 2025.
“Atkore delivered another strong quarter of financial results, achieving Net Sales, Adjusted EBITDA and Adjusted EPS towards the top end of the ranges we presented during our last earnings call in May,” commented Bill Waltz, Atkore’s President and Chief Executive Officer. “We grew organic volume 2% year-over-year and recognized solid productivity improvements.”
Waltz continued, “I am so proud of all that we’ve achieved as a team over the past several years and have the utmost confidence in what Atkore can achieve going forward. Our strength as a company has always come from our strategy, process, and most importantly, our people. Earlier today, I indicated my decision to retire from Atkore having recently informed the Board. I am focused on a seamless transition and plan to lead Atkore in my current roles until a successor is appointed.”
2025 Third Quarter Results
Net sales decreased by $87.3 million, or 10.6%, to $735.0 million for the three months ended June 27, 2025, compared to $822.4 million for the three months ended June 28, 2024. The decrease in net sales is primarily attributed to decreased average selling prices across the Company’s products of $100.5 million and the impact of divestitures in fiscal 2025 of $4.2 million, partially offset by increased sales volume of $15.4 million.
Gross profit decreased by $107.6 million, or 38.5%, to $172.1 million for the three months ended June 27, 2025, as compared to $279.7 million for the prior-year period. Gross margin decreased to 23.4% for the three months ended June 27, 2025, as compared to 34.0% for the prior-year period. Gross profit decreased primarily due to declines in average selling prices of $100.5 million and increased freight costs of $4.2 million.
Net income decreased by $80.5 million, or 65.2%, to $43.0 million for the three months ended June 27, 2025 compared to $123.4 million of net income for the prior-year period primarily due to lower gross profit of $107.6 million, partially offset by lower income tax expense of $22.4 million and lower intangible amortization of $3.1 million.
Adjusted EBITDA decreased by $106.2 million, or 51.5%, to $99.9 million for the three months ended June 27, 2025 compared to $206.1 million for the three months ended June 28, 2024. The decrease was primarily due to lower gross profit.
Net income per diluted share prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) was $1.25 for the three months ended June 27, 2025, as compared to $3.33 in the prior-year period. Adjusted net income per diluted share decreased by $2.17 to $1.63 for the three months ended June 27, 2025, as compared to $3.80 in the prior year period. The decrease in diluted earnings per share is primarily attributed to lower net income in the quarter.
Segment Results
Electrical
Net sales decreased by $84.7 million, or 14.0%, to $521.3 million for the three months ended June 27, 2025 compared to $606.0 million for the three months ended June 28, 2024. The decrease in net sales is primarily attributed to decreased average selling prices of $92.2 million and the impact of divestitures in fiscal 2025 of $4.2 million, partially offset by increased sales volume of $9.5 million.
Adjusted EBITDA for the three months ended June 27, 2025 decreased by $101.3 million, or 55.5%, to $81.2 million from $182.6 million for the three months ended June 28, 2024. Adjusted EBITDA margin decreased to 15.6% for the three months ended June 27, 2025 compared to 30.1% for the three months ended June 28, 2024. The decrease in Adjusted EBITDA and Adjusted EBITDA margin was largely due to lower average selling prices.
Safety & Infrastructure
Net sales decreased by $3.1 million, or 1.4%, for the three months ended June 27, 2025 to $214.0 million compared to $217.0 million for the three months ended June 28, 2024. The decrease is primarily attributed to lower selling prices of $8.3 million partially offset by higher sales volume of $5.9 million.
Adjusted EBITDA increased by $0.7 million, or 2.3%, to $30.7 million for the three months ended June 27, 2025 compared to $30.0 million for the three months ended June 28, 2024. Adjusted EBITDA margin increased to 14.4% for the three months ended June 27, 2025 compared to 13.8% for the three months ended June 28, 2024. The increase in Adjusted EBITDA and Adjusted EBITDA margin was largely due related to increases associated with our construction business and our cable management and metal framing products in North America.
Liquidity & Capital Resources
On July 30, 2025, Atkore’s Board of Directors approved a quarterly dividend payment of $0.33 per share of common stock payable on August 29, 2025 to stockholders of record on August 19, 2025.
Full-Year Outlook1
The Company is maintaining the midpoint of its estimate for fiscal year 2025 Adjusted EBITDA to be approximately $400 million while adjusting the range to be between $390 million and $410 million and increasing its estimate for Adjusted net income per diluted share to $6.25 – $6.75.
The Company notes that this perspective may vary due to changes in assumptions or market conditions and other factors described under “Forward-Looking Statements.”
__________________________