Revenue growth has shifted toward contraction, with the most recent quarterly growth rate of 4.2% failing to offset the significant decline in gross margins from 35.0% in 2024Q2 to 18.6% in 2026Q2.
| Metric | TTM | Sep'25 | Sep'24 | Sep'23 | Sep'22 | Sep'21 | Sep'20 | Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 |
|---|
| Sales/Revenue | 2.87B | 2.85B | 3.2B | 3.52B | 3.91B | 2.93B | 1.77B | 1.92B | 1.84B | 1.5B | 1.52B | 1.73B | 1.7B | 1.48B | 1.55B |
| Revenue Growth % | -3.36% | -10.98% | -9% | -10.1% | 33.67% | 65.85% | -7.88% | 4.44% | 22.02% | -1.28% | -11.9% | 1.55% | 15.38% | -4.72% | - |
| Cost of Goods Sold | 2.3B | 2.22B | 2.18B | 2.24B | 2.31B | 1.84B | 1.31B | 1.45B | 1.43B | 1.17B | 1.18B | 1.48B | 1.5B | 1.28B | 1.32B |
| COGS % of Revenue | - | 77.75% | 68.07% | 63.58% | 59.02% | 62.71% | 74% | 75.77% | 77.88% | 77.47% | 77.26% | 85.5% | 87.89% | 86.7% | 85.22% |
| Gross Profit | 571.98M | 634.17M | 1.02B | 1.28B | 1.6B | 1.09B | 459.05M | 464.32M | 405.98M | 338.86M | 346.44M | 250.69M | 206.25M | 196.23M | 229M |
| Gross Margin % | 19.9% | 22.25% | 31.93% | 36.42% | 40.98% | 37.29% | 26% | 24.23% | 22.12% | 22.53% | 22.74% | 14.5% | 12.11% | 13.3% | 14.78% |
| Gross Profit Growth % | - | -37.97% | -20.24% | -20.09% | 46.88% | 137.87% | -1.14% | 14.37% | 19.81% | -2.19% | 38.2% | 21.54% | 5.11% | -14.31% | - |
| Operating Expenses | 426.58M | 396.61M | 397.54M | 387.24M | 366.62M | 293.02M | 224.86M | 235.72M | 223.88M | 181.65M | 215.43M | 181.05M | 178.52M | 158.98M | 190M |
| OpEx % of Revenue | - | 13.91% | 12.42% | 11% | 9.37% | 10.01% | 12.74% | 12.3% | 12.2% | 12.08% | 14.14% | 10.47% | 10.48% | 10.77% | 12.27% |
| Selling, General & Admin | 413.63M | 396.61M | 397.54M | 387.24M | 366.62M | 293.02M | 224.86M | 235.72M | 223.88M | 181.65M | 215.43M | 181.05M | 178.52M | 158.98M | 178M |
| SG&A % of Revenue | - | 13.91% | 12.42% | 11% | 9.37% | 10.01% | 12.74% | 12.3% | 12.2% | 12.08% | 14.14% | 10.47% | 10.48% | 10.77% | 11.49% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 139.04M | 237.56M | 624.78M | 894.46M | 1.24B | 798.95M | 234.19M | 228.61M | 182.1M | 157.21M | 131.01M | 69.64M | 27.73M | 37.25M | 51M |
| Operating Margin % | 4.84% | 8.33% | 19.51% | 25.42% | 31.61% | 27.29% | 13.27% | 11.93% | 9.92% | 10.45% | 8.6% | 4.03% | 1.63% | 2.52% | 3.29% |
| Operating Income Growth % | - | -61.98% | -30.15% | -27.7% | 54.86% | 241.15% | 2.44% | 25.54% | 15.84% | 19.99% | 88.13% | 151.11% | -25.55% | -26.95% | - |
| EBITDA | 291.49M | 397.4M | 776M | 1.03B | 1.34B | 892.02M | 323.46M | 300.95M | 249M | 211.94M | 186.03M | 129.11M | 86.43M | 85.67M | 100M |
| EBITDA Margin % | 10.14% | 13.94% | 24.23% | 29.28% | 34.12% | 30.47% | 18.32% | 15.7% | 13.57% | 14.09% | 12.21% | 7.47% | 5.08% | 5.8% | 6.46% |
| EBITDA Growth % | -48.73% | -48.79% | -24.68% | -22.86% | 49.72% | 175.77% | 7.48% | 20.87% | 17.49% | 13.93% | 44.09% | 49.38% | 0.89% | -14.34% | - |
| D&A (Non-Cash Add-back) | 152.45M | 159.84M | 151.21M | 135.84M | 98.33M | 93.07M | 89.27M | 72.35M | 66.89M | 54.73M | 55.02M | 59.47M | 58.7M | 48.41M | 49M |
| EBIT | 51.5M | 14.68M | 622.82M | 885.52M | 1.23B | 812.9M | 242.06M | 235.14M | 207.05M | 152.72M | 128.58M | 36.94M | -62.62M | 26.32M | 51M |
| Net Interest Income | -24.8M | -33.27M | -35.58M | -35.23M | -30.68M | -32.9M | -40.06M | -50.47M | -40.69M | -26.6M | -41.8M | -44.81M | -44.27M | -47.87M | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 50M |
| Interest Expense | 30.68M | 33.27M | 35.58M | 35.23M | 30.68M | 32.9M | 40.06M | 50.47M | 40.69M | 26.6M | 41.8M | 44.81M | 44.27M | 47.87M | 0 |
| Other Income/Expense | -292.99M | -256.15M | -37.55M | -44.17M | -33.61M | -18.95M | -32.19M | -43.94M | -15.75M | -31.08M | -44.23M | -77.51M | -134.62M | -58.8M | -62M |
| Pretax Income | -153.91M | -18.59M | 587.24M | 850.29M | 1.2B | 780M | 202M | 184.67M | 166.35M | 126.13M | 86.78M | -7.87M | -106.89M | -21.55M | -11M |
| Pretax Margin % | -5.36% | -0.65% | 18.34% | 24.16% | 30.75% | 26.64% | 11.44% | 9.64% | 9.06% | 8.39% | 5.7% | -0.46% | -6.28% | -1.46% | -0.71% |
| Income Tax | -33.41M | -3.42M | 114.36M | 160.39M | 290.19M | 192.14M | 49.7M | 45.62M | 29.71M | 41.49M | 27.98M | -2.92M | -32.94M | -2.97M | -9M |
| Effective Tax Rate % | 21.71% | 18.37% | 19.48% | 18.86% | 24.11% | 24.63% | 24.6% | 24.7% | 17.86% | 32.89% | 32.25% | 37.05% | 30.82% | 13.77% | 81.82% |
| Net Income | -120.5M | -15.18M | 472.87M | 689.9M | 913.43M | 587.86M | 152.3M | 139.05M | 136.65M | 84.64M | 58.8M | -4.96M | -73.95M | -61.23M | -2M |
| Net Margin % | -4.19% | -0.53% | 14.77% | 19.61% | 23.34% | 20.08% | 8.63% | 7.26% | 7.45% | 5.63% | 3.86% | -0.29% | -4.34% | -4.15% | -0.13% |
| Net Income Growth % | -162.49% | -103.21% | -31.46% | -24.47% | 55.38% | 285.98% | 9.53% | 1.76% | 61.44% | 43.95% | 1286.6% | 93.3% | -20.76% | -2961.75% | - |
| Net Income (Continuing) | -120.53M | -15.18M | 472.87M | 689.9M | 913.43M | 587.86M | 152.3M | 139.05M | 136.65M | 84.64M | 58.8M | -4.96M | -73.95M | -18.58M | -2M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -3.57 | -0.45 | 12.69 | 17.27 | 20.30 | 12.19 | 3.10 | 2.83 | 2.53 | 1.27 | 0.94 | -0.08 | -1.18 | -0.98 | -0.03 |
| EPS Growth % | -107.13% | -103.55% | -26.52% | -14.93% | 66.53% | 293.23% | 9.54% | 11.86% | 99.21% | 35.11% | 1285.37% | 93.28% | -20.41% | -2962.5% | - |
| EPS (Basic) | - | -0.45 | 12.83 | 17.51 | 20.56 | 12.38 | 3.15 | 2.91 | 2.64 | 1.33 | 0.94 | -0.08 | -1.18 | -0.98 | -0.03 |
| Diluted Shares Outstanding | 33.75M | 34.03M | 36.79M | 39.33M | 44.28M | 47.31M | 48.04M | 47.78M | 54.09M | 66.55M | 62.82M | 62.48M | 62.48M | 62.46M | 62.46M |
| Basic Shares Outstanding | 33.32M | 34.03M | 36.39M | 38.8M | 43.72M | 46.57M | 47.27M | 46.58M | 51.79M | 63.42M | 62.49M | 61.94M | 62.48M | 62.46M | 62.46M |
| Dividend Payout Ratio | - | - | 7.29% | - | - | - | - | - | - | - | - | - | - | - | - |
Commodity spread volatility
As indicated by recent quarterly filings, Atkore's revenue trajectory has shifted toward contraction, with the most recent period showing a 4.2% growth rate that masks underlying volatility in commodity-linked pricing and a broader deceleration from the double-digit declines observed in the prior fiscal year.
The revenue profile appears increasingly sensitive to the non-residential construction cycle, where project deferrals are likely weighing on volume. While the recent uptick in revenue growth suggests a potential stabilization, investors should monitor whether this reflects genuine demand recovery or merely the impact of pass-through pricing adjustments.
Based on the provided financial data, Atkore's gross margin has experienced a significant contraction, falling from a peak of 35.0% in 2024Q2 to 18.6% in 2026Q2, reflecting the erosion of favorable pricing spreads that previously bolstered the company's profitability during the post-pandemic supply chain disruption period.
This margin degradation suggests that the company's ability to pass through raw material costs has diminished as market conditions normalize. The sharp decline in profitability warrants further investigation into whether the current margin levels represent a new structural floor or if further compression is likely as competitive pressures intensify.
According to reported income statements, Atkore's net income has turned negative, reaching -17.0% in 2026Q2, which appears to be driven by non-operating or accounting-related charges rather than a fundamental collapse in the company's ability to generate cash from its core industrial operations.
The disconnect between negative net income and the company's robust cash position suggests that investors should look past headline EPS figures to evaluate true operational health. These accounting anomalies may be obscuring the underlying cash-generating capacity of the business, necessitating a focus on cash flow metrics over GAAP earnings.
As reported in financial statements, the transition to negative net margins suggests that Atkore's historical pricing power may be structurally compromised, challenging the narrative that its logistical moat and brand specification provide sufficient protection against the cyclical downturns inherent in the electrical equipment and conduit markets.
Short-term observers may argue that the company is failing to adjust its cost base rapidly enough to offset the decline in commodity spreads. If the current negative margin trend persists, it may indicate that the company's competitive advantage is less durable than previously assumed in a normalized pricing environment.
Quick answers to the most common questions about buying ATKR stock.
For fiscal year 2025, Atkore Inc. (ATKR) reported total revenue of $2.85B. This represents a 84.0% increase compared to $1.55B in 2012.
Atkore Inc. (ATKR) reported a net loss of $15.2M for the fiscal year ending 2025.
Atkore Inc. (ATKR) reported an operating income of $237.6M, resulting in an operating profit margin of 8.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Atkore Inc. (ATKR) generated $634.2M in gross profit for the year, representing a gross profit margin of 22.2%. This demonstrates the company's core pricing power and production efficiency.