Atkore Inc. announced its financial results for the fourth quarter and full fiscal year ended September 30, 2024, revealing substantial year-over-year declines in key financial metrics. For Q4 2024, net sales decreased by 9.4% to $788.3 million from $869.9 million in the prior-year period, primarily due to a $104.1 million decrease in average selling prices and a $5.4 million impact from solar tax credits, partially offset by a $26.9 million increase in sales volume.
The company's profitability also saw a significant reduction, with net income falling by 48.1% to $73.1 million from $140.9 million, and Adjusted EBITDA decreasing by 39.6% to $140.2 million from $232.0 million in the prior-year quarter. Diluted EPS was $2.02, down from $3.63, while Adjusted diluted EPS dropped to $2.43 from $4.21. For the full fiscal year 2024, net sales decreased by 9.0% to $3,202.1 million, and Adjusted EBITDA declined by 25.9% to $771.7 million.
Looking ahead, Atkore provided its initial outlook for fiscal year 2025, projecting Adjusted EBITDA to be in the range of $475 million to $525 million and Adjusted diluted EPS between $7.80 and $8.90. The company anticipates low to mid-single digit percentage volume growth for FY25 and plans for capital expenditures between $100 million and $125 million, alongside share repurchases of at least $150 million.
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