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0.82%
0.68
Why is Atkore Inc (ATKR) Stock down?
We've noticed a 7.20% decline in Atkore Inc (ATKR) stock during the 2024-11-08 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
17 Nov, 2023:
Atkore Inc Stock (ATKR) dropped by 2.82% from $135.23 to $131.41 in the trading on Friday November 17, 2023. The reasons why ATKR stock down today include:
- Q4 FY23 earnings results: Atkore Inc reported a Q4 FY23 revenue decline of 15.5% Y/Y to $869.9 million, missing the consensus of $920.4 million. Revenue decreased Y/Y due to lower average selling prices of $173.8 million on expected pricing normalization and the economic value of solar tax credits to be transferred to certain customers of $14.5 million.
- Dividend: The company's Board of Directors approved a new quarterly dividend program and expects the first quarterly cash distribution to be declared and paid in CY Q1 2024, following the earnings announcement.
- Outlook: For FY24, Atkore expects net sales of $3.50 billion - $3.65 billion vs. consensus of $3.61 billion and adjusted EPS of $16.00-$17.00 vs. $16.47 estimate.
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