Electrical safety company Atkore (NYSE: ATKR) will be reporting earnings this Tuesday before market open. Here’s what you need to know.
Atkore beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $701.7 million, down 11.5% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.
Is Atkore a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Atkore’s revenue to decline 10.2% year on year to $738.6 million, in line with the 10.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.58 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Atkore has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Atkore’s peers in the electrical systems segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Vertiv delivered year-on-year revenue growth of 35.1%, beating analysts’ expectations by 12%, and Acuity Brands reported revenues up 21.7%, topping estimates by 3.1%. Vertiv traded up 2% following the results while Acuity Brands was also up 5.8%.
Read our full analysis of Vertiv’s results here and Acuity Brands’s results here.
Investors in the electrical systems segment have had steady hands going into earnings, with share prices flat over the last month. Atkore is up 3.1% during the same time and is heading into earnings with an average analyst price target of $77.67 (compared to the current share price of $75.92).
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