Quarterly ResultMay 6, 2026, 06:08 AM
Atkore Reports Q2 Net Loss of $124.1M; $136.5M Litigation Settlement
AI Summary
Atkore Inc. reported a net loss of $124.1 million for the three months ended March 27, 2026, primarily driven by a $136.5 million litigation settlement expense. Net sales increased 4.2% to $731.4 million year-over-year. The company also classified its HDPE pipe business as held for sale, incurring a $6.5 million goodwill impairment and a $25.7 million valuation loss, and recognized $4.1 million in restructuring charges related to headcount reductions and plant closures.
Key Highlights
- Incurred $136.5 million litigation settlement expense for the three and six months ended March 27, 2026.
- Reported a net loss of $124.1 million, or $(3.65) diluted EPS, for the three months ended March 27, 2026.
- Net sales increased 4.2% to $731.4 million for the three months ended March 27, 2026, from $701.7 million YoY.
- Operating income was $10.4 million for the three months, compared to an operating loss of $(51.8) million in the prior year.
- Classified its HDPE pipe business as held for sale, recognizing a $6.5 million goodwill impairment and a $25.7 million valuation loss.
- Recognized $4.1 million in restructuring charges for headcount reductions and plant closures in the three months.
- Net cash used in operating activities was $(27.2) million for the six months, a significant decrease from $160.9 million provided YoY.
- Cash and cash equivalents decreased to $442.3 million as of March 27, 2026, from $506.7 million at September 30, 2025.
Price Impact
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