Atkore First Quarter 2024 Earnings: Beats Expectations
Atkore (NYSE:ATKR) First Quarter 2024 Results
Key Financial Results
Revenue: US$798.5m (down 4.2% from 1Q 2023).
Net income: US$138.4m (down 19% from 1Q 2023).
Profit margin: 17% (down from 21% in 1Q 2023).
EPS: US$3.66 (down from US$4.26 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Atkore Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) also surpassed analyst estimates by 11%.
Looking ahead, revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Electrical industry in the US.
Performance of the American Electrical industry.
The company's shares are down 3.6% from a week ago.
Valuation
It's possible that Atkore could be undervalued with our 6-factor valuation analysis indicating a potential opportunity. Click here to find out what a fair price for the stock might be and where analysts see the share price heading over the next year.
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