Atkore Inc. reported its financial results for the second quarter of fiscal 2026, revealing a net sales increase of 4.2% to $731.4 million, compared to $701.7 million in the same period last year. The growth was primarily driven by a $32.3 million increase in sales volume, a $10.2 million rise in average selling prices, and a $8.2 million benefit from foreign exchange. However, the company faced a significant rise in cost of sales, which surged by 15.2% to $595.3 million, largely due to increased input costs and sales volume. This resulted in a gross profit decline of 26.5% to $136.1 million.
The company experienced a notable shift in profitability, reporting an operating income of $10.4 million, a substantial recovery from an operating loss of $51.8 million in the prior year. However, net income for the quarter was a loss of $124.1 million, compared to a loss of $50.1 million in the same quarter last year. This loss was significantly impacted by a $136.5 million litigation settlement expense related to ongoing antitrust litigation, which was recognized in the current quarter.
In terms of operational developments, Atkore has been actively restructuring its operations, including the closure of certain plants and a strategic review of its business portfolio. The company recognized $4.1 million in restructuring charges during the quarter, alongside a $11.6 million asset impairment charge, primarily related to the goodwill of its HDPE business, which was classified as held for sale. The company also completed the sale of Tectron Tube for $18.4 million during the quarter, contributing to its ongoing divestiture strategy.
Geographically, Atkore's sales were predominantly from the United States, which accounted for $619.1 million of total sales, reflecting a slight increase from the previous year. The company also reported a decrease in sales from its Safety & Infrastructure segment, which fell by 4.9% to $199.1 million, attributed to divestitures and higher solar energy tax credits. The Electrical segment, however, saw an 8.1% increase in sales, reaching $532.5 million.
Looking ahead, Atkore's management expressed cautious optimism regarding future performance, emphasizing the importance of navigating market uncertainties, including inflation and supply chain disruptions. The company aims to leverage its liquidity, with cash and cash equivalents totaling $442.3 million as of March 27, 2026, to support ongoing operations and strategic initiatives. The outlook remains contingent on the successful execution of its restructuring plans and the resolution of legal matters, particularly the antitrust litigation that has significantly impacted its financial results.
About Atkore Inc.
Atkore Inc. manufactures electrical products and safety infrastructure solutions primarily for non-residential construction, renovation, residential, industrial, and OEM markets. Its Electrical segment produces conduit, cable, and installation accessories, while Safety & Infrastructure offers metal framing, mechanical pipe, perimeter security, and cable management. Serving contractors and distributors mainly in the U.S., Atkore leverages strong brands, broad product portfolios, and national scale to deliver quality, innovation, and reliable supply.
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