Challenges and Opportunities for Atkore Amid Sales Volume Decline in Second Quarter
Friday, 10 May 2024, 16:53
Atkore's second-quarter earnings
The decline is apparent from the company's recent earnings:
- Electrical net sales declined by $90.1 million to $590.8 million, with $87.1 million due to lower pricing and a reduction in sales volume accounting for $3.8 million
- Safety & industrial net sales declined by $12.6 million to $202.4 million, with lower volumes accounting for $3.7 million, an increase in selling prices of $1.6 million, and 'economic value of solar tax credits to be transferred to certain customers of $10.8 million'
What management said
Management referred to the construction market as containing 'near-term challenges to growth,' and CEO William Waltz noted that if the expected second-half improvement in the electrical segment doesn't occur on the back of stronger construction activity, 'The pricing environment could be challenged in the second half of 2024.'
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.