Atkore Inc. Q1 Profit Decreases, But Beats Estimates

Atkore International Group

66.16 EUR -3.16%

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(RTTNews) - Atkore Inc. (ATKR) released earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $46.34 million, or $1.31 per share. This compares with $138.38 million, or $3.61 per share, last year.

Excluding items, Atkore Inc. reported adjusted earnings of $57.10 million or $1.63 per share for the period.

Analysts on average had expected the company to earn $1.57 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 17.1% to $661.60 million from $798.48 million last year.

Atkore Inc. earnings at a glance (GAAP) :

-Earnings: $46.34 Mln. vs. $138.38 Mln. last year. -EPS: $1.31 vs. $3.61 last year. -Revenue: $661.60 Mln vs. $798.48 Mln last year.

-Guidance: Full year EPS guidance: $5.75 - $6.85