Electricalmarketing 1802 Atkore Logo 2c Pms 770v2
Electricalmarketing 1802 Atkore Logo 2c Pms 770v2
Electricalmarketing 1802 Atkore Logo 2c Pms 770v2
Electricalmarketing 1802 Atkore Logo 2c Pms 770v2
Electricalmarketing 1802 Atkore Logo 2c Pms 770v2

Atkore Sees Sales Rise Offset by Lower Volume

Feb. 6, 2019
Sales reflected the pass-through impact of higher average input costs of steel, copper, and freight.

Atkore International Group, Harvey, IL, reported a 9% increase in overall sales in its first fiscal quarter of 2019 (three months ended Dec 28, 2018), delivering $452 million, an increase of $39.8 million. Atkore execs the gains were “primarily due to increased average market prices for the metal electrical conduit product category and the pass-through impact of higher average input costs of steel, copper, and freight.” The increase in net sales “was partially offset by lower volume of $11.0 million primarily in metal conduit and cable wire product categories sold within the Electrical Raceway segment.”

Net sales in the Electrical Raceway segment increased $26.9 million, or 8.5%, to $343.4 million for the quarter. Adjusted EBITDA for the three-month period increased $12.3 million, or 22.0%, to $68.5 million.

The Atkore board this week approved a share repurchase program, under which the company may repurchase up to $50 million of its outstanding common stock.