Atkore Inc. Files Q1 2025 10-Q Report
Ticker: ATKR · Form: 10-Q · Filed: Feb 4, 2025 · CIK: 1666138
| Field | Detail |
|---|---|
| Company | Atkore INC. (ATKR) |
| Form Type | 10-Q |
| Filed Date | Feb 4, 2025 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
ATKR Q1 2025 10-Q filed. Financials updated.
AI Summary
Atkore Inc. filed its 10-Q for the period ending December 27, 2024. The company reported financial results for its first fiscal quarter of 2025. Key financial data and balance sheet information as of December 27, 2024, and September 30, 2024, were included in the filing.
Why It Matters
This filing provides investors with the latest financial performance and position of Atkore Inc., crucial for understanding the company's operational health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Numbers
- 2024-12-27 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
- 2025-02-04 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- Atkore Inc. (company) — Filer of the 10-Q report
- 2024-12-27 (date) — End of the reporting period for the 10-Q
- 2025-02-04 (date) — Filing date of the 10-Q
- 0001666138 (company) — Central Index Key for Atkore Inc.
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is for the quarter ended December 27, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on February 4, 2025.
What is the company's Central Index Key (CIK)?
The Central Index Key for Atkore Inc. is 0001666138.
What is Atkore Inc.'s fiscal year end?
Atkore Inc.'s fiscal year ends on September 30.
What was the previous reporting period mentioned in the filing?
The filing also references data for the period ended December 29, 2023, and September 30, 2023.
Filing Stats: 4,605 words · 18 min read · ~15 pages · Grade level 15.8 · Accepted 2025-02-03 18:06:04
Key Financial Figures
- $0.01 — hares of the registrant's common stock, $0.01 par value per share, outstanding. TAB
Filing Documents
- atkr-20241227.htm (10-Q) — 846KB
- signedofferletter1102025.htm (EX-10.1) — 1KB
- a1q25exhibit311.htm (EX-31.1) — 9KB
- a1q25exhibit312.htm (EX-31.2) — 9KB
- a1q25exhibit321.htm (EX-32.1) — 4KB
- a1q25exhibit322.htm (EX-32.2) — 4KB
- atkr-20241227_g1.jpg (GRAPHIC) — 38KB
- signedofferletter1102025001.jpg (GRAPHIC) — 143KB
- signedofferletter1102025002.jpg (GRAPHIC) — 160KB
- signedofferletter1102025003.jpg (GRAPHIC) — 79KB
- 0001666138-25-000030.txt ( ) — 6196KB
- atkr-20241227.xsd (EX-101.SCH) — 38KB
- atkr-20241227_cal.xml (EX-101.CAL) — 67KB
- atkr-20241227_def.xml (EX-101.DEF) — 159KB
- atkr-20241227_lab.xml (EX-101.LAB) — 514KB
- atkr-20241227_pre.xml (EX-101.PRE) — 354KB
- atkr-20241227_htm.xml (XML) — 773KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) 2 Condensed Consolidated Statements of Operations 2 Condensed Consolidated Statements of Comprehensive Income 3 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Cash Flows 5 Condensed Consolidated Statement of Changes in Shareholders' Equity 6 Notes to Condensed Consolidated Financial Statements 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 28
Controls and Procedures
Item 4. Controls and Procedures 28
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 29
Risk Factors
Item 1A. Risk Factors 29
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 29
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 29
Other Information
Item 5. Other Information 29
Exhibits
Item 6. Exhibits 30
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements ATKORE INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three months ended (in thousands, except per share data) Note December 27, 2024 December 29, 2023 Net sales $ 661,597 $ 798,481 Cost of sales 490,509 507,941 Gross profit 171,088 290,540 Selling, general and administrative 91,451 100,615 Intangible asset amortization 11 11,699 14,467 Operating income 67,938 175,458 Interest expense, net 8,209 7,793 Other expense, net 5 1,133 12 Income before income taxes 58,596 167,653 Income tax expense 6 12,260 29,272 Net income $ 46,336 $ 138,381 Net income per share Basic 7 $ 1.32 $ 3.66 Diluted 7 $ 1.31 $ 3.61 See Notes to unaudited condensed consolidated financial statements. 2 ATKORE INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) Three months ended (in thousands) Note December 27, 2024 December 29, 2023 Net income $ 46,336 $ 138,381 Other comprehensive income, net of tax: Change in foreign currency translation adjustment ( 17,532 ) 9,727 Change in unrecognized loss related to pension benefit plans 4 42 53 Total other comprehensive income 8 ( 17,490 ) 9,780 Comprehensive income $ 28,846 $ 148,161 See Notes to unaudited condensed consolidated financial statements. 3 ATKORE INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands, except share and per share data) Note December 27, 2024 September 30, 2024 Assets Current Assets: Cash and cash equivalents $ 310,444 $ 351,385 Accounts receivable, less allowance for current and expected credit losses of $ 5,584 and $ 6,322 , respectively 473,096 489,926 Inventories, net 9 526,261 524,695 Prepaid expenses and other current assets 173,749 158,382 Total current assets 1,483,550 1,524,388 Property, plant and equipment, net 10 655,283 652,093 Intangible assets, net 11 326,944 340,431 Goodwill 11 310,969 314,000 Right-of-use assets, net 175,259 180,656 Deferred tax assets 6 502 554 Other