Atkore Reports Earnings Beat and Announces $95-per-Share Acquisition by Prysmian
Atkore Inc. (NYSE:ATKR) reported better-than-expected fiscal third-quarter earnings for 2026, with adjusted EPS of $1.92 versus a consensus estimate of $1.78 and revenue reaching $794.8 million against an expected $781.08 million. The company also announced it has entered into a definitive agreement to be acquired by Prysmian S.p.A. (BIT:PRY) in an all-cash deal valued at $95 per share, sending Atkore's shares up 26.64% pre-market. The acquisition is expected to close after regulatory and shareholder approvals are obtained. Despite a GAAP loss of $0.02 due to litigation settlement costs and transaction-related expenses, adjusted EBITDA rose by 4.7% year-over-year to $104.7 million. The Electrical segment drove revenue growth with an increase of 10.9%, while the Safety & Infrastructure division saw a modest rise in sales. Atkore's board also approved a quarterly dividend of $0.33 per share, payable on August 28, and stated it will not update its financial guidance during the acquisition process.
Tickers: $ATKR
Topics: Acquisition Agreement Earnings Beat