Atkore Sees Sales Rise Offset by Lower Volume

Atkore International Group, Harvey, IL, reported a 9% increase in overall sales in its first fiscal quarter of 2019 (three months ended Dec 28, 2018), delivering $452 million, an increase of $39.8 million. Atkore execs the gains were “primarily due to increased average market prices for the metal electrical conduit product category and the pass-through impact of higher average input costs of steel, copper, and freight.” The increase in net sales “was partially offset by lower volume of $11.0 million primarily in metal conduit and cable wire product categories sold within the Electrical Raceway segment.”

Net sales in the Electrical Raceway segment increased $26.9 million, or 8.5%, to $343.4 million for the quarter. Adjusted EBITDA for the three-month period increased $12.3 million, or 22.0%, to $68.5 million.

The Atkore board this week approved a share repurchase program, under which the company may repurchase up to $50 million of its outstanding common stock.