Atkore reports Q2 adjusted EPS $1.23, consensus 1.00

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 (ATKR) 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.”