Atkore Q3 Net Sales Improve On Higher Volumes, Prices

(RTTNews) - Atkore Inc. (ATKR), a maker of electrical products, reported a steep decline in net income for the third quarter of fiscal 2026. However, the company posted a rise in net sales.

For the three-month period to June 26, the company reported a net income of $0.745 million, or $0.02 per share, compared with $42.962 million, or $1.25 per share in the same period last year. This steep decline in net earnings was mainly due to litigation settlement expense of $50 million, related litigation costs, and increased transaction costs associated with recent divestitures and other activities in conjunction with the previously announced strategic review.

Litigation settlement expense was $50 million, compared with $00 million a year ago. Transaction costs were $9.825 million as against $0.000 million in the previous year.

Adjusted profit was $65.186 million, or $1.92 per share, higher than $55.304 million, or $1.63 per share, a year ago.

Loss before income taxes was $5.559 million as against the prior year's profit of $55.090 million. Operating income stood at $63.990 million, higher than $63.813 million. Net sales improved to $794.800 million from the prior year's $735.045 million. This rise in net sales reflects increased sales volume of $65.7 million, improved average selling prices of $22.4 million, and a foreign-exchange gain of $8 million.

The board will pay a quarterly dividend of $0.33 per share on August 28 to the shareholders of record as of August 18.