Atkore Inc. announced preliminary estimated results for its second fiscal quarter ended March 28, 2025, indicating mid-single digit volume growth and better than expected manufacturing productivity. The Safety & Infrastructure segment showed favorable benefits from construction services projects.
However, the company expects to record a pre-tax non-cash impairment charge of approximately $121 million to $162 million in its second quarter results. This charge is related to certain long-lived assets of its High-Density Polyethylene (HDPE) pipe and conduit products, triggered by the emergence of a competing technology for federal stimulus funding and delays in broadband infrastructure funding.
Despite the impairment charge, Atkore is maintaining its full-year fiscal 2025 outlook for Adjusted EBITDA, projected to be between $375 million and $425 million, and Adjusted net income per diluted share, estimated at $5.75 - $6.85. Additionally, the company reached an agreement with the United Steelworkers for a new 5-year labor contract for its Harvey, Illinois facility, retroactive to April 2024.
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