Atkore Q1 Net Income Plunges 67.6% on 0.9% Sales Decline
Atkore’s Q1 fiscal 2026 net sales slipped 0.9% to $655.5 million, with net income plunging 67.6% to $15.0 million and adjusted EPS dropping to $0.83 from $1.63. The board approved a $0.33 quarterly dividend and reiterated fiscal 2026 guidance of $340–360 million in Adjusted EBITDA and $5.05–5.55 EPS.
1. Q1 2026 Results Exceed Expectations
Atkore Inc. reported first quarter fiscal 2026 revenue of $655.5 million, slightly below last year’s $661.6 million but outperforming internal forecasts on the back of volume gains. Adjusted net income per diluted share was $0.83, up from consensus expectations of $0.64 and compared to $1.63 a year earlier. GAAP net income totaled $15.0 million, down from $46.3 million in Q1 2025, primarily due to a $45.2 million decrease in gross profit driven by lower average selling prices and higher input costs. The company declared a quarterly dividend of $0.33 per share, payable February 27, 2026 to holders of record on February 17, 2026.
2. Segment Performance Breakdown
In the Electrical segment, net sales rose 0.9% to $469.6 million, propelled by a $23.4 million increase in volume despite an $18.1 million impact from lower selling prices. Adjusted EBITDA declined 40.4% to $55.1 million, with margin contracting to 11.7% from 19.9% year-over-year. The Safety & Infrastructure segment delivered net sales of $186.3 million, down 5.3% on an $8.1 million volume reduction, but generated a 93.8% increase in Adjusted EBITDA to $30.2 million, lifting margin to 16.2% versus 7.9% in Q1 2025. Management cited improved operational performance and cost controls in its mechanical and construction business as key drivers.
3. Sustainability Achievements and Full-Year Outlook
Atkore published its 2025 Sustainability Report, highlighting the issuance of multiple Environmental Product Declarations and recognition with Employer of Choice awards. The company reaffirmed its commitment to environmental, health and safety initiatives and employee engagement, having achieved all five-year targets set in 2020. For fiscal 2026 the company maintains Adjusted EBITDA guidance of $340 million to $360 million and Adjusted net income per diluted share of $5.05 to $5.55, noting potential variability based on market conditions and input cost trends.