Atkore Q3 2026 earnings: profit squeezed by legal settlement as sales climb 8%
Atkore's quarterly profit was nearly erased by a litigation payment, even as sales grew and the company agreed to be acquired by Prysmian for $95 a share.
| Q3 2026 | Reported |
|---|---|
| EPS | $0.02 |
| Revenue | $794.8M |
Figures as reported by the company to the SEC for the quarter ended June 26, 2026. Analyst estimates are not part of a filing, so no comparison to expectations is shown.
Key takeaways
- Reported profit was nearly wiped out by a $50 million payment to settle the last of three related lawsuits accusing Atkore and other makers of PVC electrical conduit of price-fixing; combined, the three settlements total $186.5 million. Stripping out that one-time cost and expenses tied to its pending acquisition, the company said adjusted profit per share rose to $1.92 from $1.63 a year earlier.
- Sales grew because more product moved off the shelves, not because of price increases: the company said volume was up about 9% year over year, with both of its business segments contributing.
- The Electrical segment, which makes conduit and cable products used in construction and data-center wiring, was the main growth engine, with revenue up nearly 11% from a year ago. The smaller Safety & Infrastructure segment grew a more modest 1%.
- Atkore has agreed to be acquired by Italian cable maker Prysmian in an all-cash deal worth $95 per share, valuing the company at roughly $3.8 billion in enterprise value. Because of the pending deal, Atkore said it will not issue or update forward financial guidance.
- Trailing-twelve-month profitability metrics such as operating and net margins are negative, reflecting the cumulative weight of this year’s litigation settlements on the company’s books over the past four quarters, even though the most recent quarter’s underlying (adjusted) business performance improved.
- CEO Bill Waltz said net sales reflected strong organic volume growth from both segments and that the company was pleased to have reached an agreement to be acquired by Prysmian in a deal he said delivers value to Atkore shareholders.
Q3 2026 in context
| Metric | Jun 2026 | Jun 2025 | Change |
|---|---|---|---|
| Revenue | $795M | $735M | +8.1% |
| Net income | $745,000 | $43M | -98.3% |
| Free cash flow | -$77M | $10M | -862.6% |
| Diluted EPS | $0.02 | $1.25 | -98.4% |
| Gross margin | 22.2% | 23.4% | -1.2 pts |
| Operating margin | 8.1% | 8.7% | -0.6 pts |
| Net margin | 0.1% | 5.8% | -5.8 pts |
Figures for the quarter ended Jun 2026 and the quarter ended Jun 2025, as reported to the SEC.
How the stock took it
Atkore Inc closed at $93.55 on Aug 3, 2026, the last session before the report, and at $93.68 on Aug 5, 2026, the first session after it — +0.1% across the report.
| Earlier report | Close before | Close after | Change |
|---|---|---|---|
| May 6, 2026 | $76.39 | $73.97 | -3.2% |
| Feb 3, 2026 | $70.06 | $69.05 | -1.4% |
Closes from the market's daily record. Each figure spans the report date — from the last session that closed before it to the first that closed after — because a company may report before the open or after the close.
Fundamentals
| Metric | Value | Period |
|---|---|---|
| Gross margin | 20.0% | Trailing 12 months |
| Operating margin | -6.3% | Trailing 12 months |
| Net profit margin | -5.5% | Trailing 12 months |
| Pretax margin | -7.3% | Trailing 12 months |
| EPS | -$4.83 | Trailing 12 months |
| Revenue growth (YoY) | 1.6% | Trailing 12 months |
| EPS growth (YoY) | -98.3% | Latest quarter |
| Return on equity | -12.1% | Trailing 12 months |
Sources: company report · earnings call