Atkore 2024 Outlook, Lowered: Now Expects Adjusted EPS Of $14.30 - $14.52 (Prior $16.00-$17.00); Est. $16.56; Sees Adjusted EBITDA Of $772M To $782M (Prior $850M To $900M)
Portfolio Pulse from Benzinga Newsdesk
Atkore has lowered its fiscal year 2024 outlook, now expecting adjusted EPS of $14.30-$14.52, down from the prior $16.00-$17.00, and adjusted EBITDA of $772M-$782M, down from the prior $850M-$900M.
August 06, 2024 | 10:09 am
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Atkore has revised its fiscal year 2024 outlook downward, reducing its adjusted EPS to $14.30-$14.52 from the previous $16.00-$17.00, and its adjusted EBITDA to $772M-$782M from the previous $850M-$900M.
The downward revision in both adjusted EPS and adjusted EBITDA indicates weaker-than-expected financial performance, which is likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100