Atkore Inc.

Atkore Inc. announced that its stockholders approved the adoption of the Merger Agreement with Prysmian S.p.A. at a special meeting held on October 7, 2026. The Merger Proposal, which facilitates the merger of Atkore with a subsidiary of Prysmian, passed with overwhelming support. Stockholders also approved, on an advisory basis, the compensation for named executive officers in connection with the merger. Adjournment of the meeting was deemed unnecessary due to the quorum and sufficient votes for the merger approval.

Atkore Inc. reported a significant decline in net income for the third quarter of fiscal 2026, with net income falling to $0.7 million, or $0.02 diluted EPS, compared to $43.0 million, or $1.25 diluted EPS, in the prior year. This was primarily due to a $50.0 million litigation settlement expense. For the nine months, the company posted a net loss of $108.3 million, or $(3.19) diluted EPS, largely impacted by $186.5 million in litigation settlement expenses and losses from divestitures. The company also recognized restructuring charges and completed several divestments during the period.

Atkore Inc. announced it has entered into a definitive agreement to be acquired by Prysmian S.p.A. for $95.00 per share in an all-cash transaction, valuing the company at approximately $3.8 billion. Concurrently, Atkore reported its fiscal 2026 third-quarter results, with net sales increasing 8.1% to $794.8 million and Adjusted EBITDA growing 4.7% to $104.7 million. While adjusted diluted EPS rose to $1.92, GAAP diluted EPS significantly decreased to $0.02, primarily due to a $50.0 million litigation settlement expense. The Board also approved a quarterly dividend of $0.33 per share.

Atkore Inc. has entered into a definitive agreement to be acquired by Prysmian S.p.A. in an all-cash transaction valued at approximately $3.8 billion. Atkore shareholders will receive $95.00 per share, representing a 30% premium over the closing price on July 31, 2026. The merger, unanimously approved by Atkore's board, is expected to close by calendar year-end 2026, pending shareholder and regulatory approvals. Atkore also separately announced its third-quarter 2026 results and canceled its original earnings call.

Atkore Inc. has entered into a settlement agreement with the third putative class, the End User Plaintiffs, in the ongoing PVC Pipe Antitrust Litigation. The company has agreed to pay $50 million into a settlement fund to resolve all claims, which will be recorded as a non-operating expense in the quarter ending June 26, 2026. Atkore plans to use available cash for the payment, which is not expected to materially impact its liquidity or leverage. The settlement, which does not constitute an admission of fault, is subject to court approval and aims to avoid the costs and risks of protracted litigation.

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.

Atkore Inc. announced its fiscal Q2 2026 results, reporting a 4.2% increase in net sales to $731.4 million, but a significant net loss of $124.1 million, up 147.9% year-over-year. Adjusted EBITDA decreased by 30.4% to $81.1 million, and Adjusted net income per diluted share fell by 39.7% to $1.23. The company also completed two divestitures and entered into legal settlement agreements totaling $136.5 million, which impacted the net loss. Atkore's Board approved a quarterly dividend of $0.33 per share, and the company maintained its full-year 2026 Adjusted EBITDA and Adjusted net income per diluted share outlook.

Atkore Inc. has entered into settlement agreements totaling $136.5 million to resolve two of three putative class action lawsuits in the In re PVC Pipe Antitrust Litigation. The settlements, which include $72.5 million for Direct Purchaser Plaintiffs and $64 million for Non-Converter Seller Purchaser Plaintiffs, are subject to court approval. The company plans to use available cash for the payments, which will be reflected as a non-operating expense in the quarter ended March 27, 2026, and does not expect a material adverse effect on its liquidity. Atkore maintains its non-admission of fault and liability, viewing the settlements as beneficial for avoiding litigation costs and reducing legal uncertainty, while claims from the End User Plaintiffs remain pending.

Atkore Inc. announced on April 8, 2026, the strategic sale of its High-Density Polyethylene (HDPE) pipe and conduit business. The divested business was acquired by Infra Pipes, a prominent North American leader specializing in polyethylene pipeline solutions. This transaction represents a portfolio optimization effort for Atkore, allowing the company to streamline its operations and potentially reallocate resources to other core segments. While specific financial terms of the divestiture were not disclosed in the announcement, the move signifies a notable adjustment to Atkore's business structure.