Atkore Inc. (NYSE:ATKR) posted stronger-than-expected fiscal third-quarter 2026 results while simultaneously announcing that it has entered into a definitive agreement to be acquired by Prysmian S.p.A. (BIT:PRY) in an all-cash transaction valued at $95.00 per share.
The combination of the earnings beat and the takeover announcement sent Atkore shares up 26.64% in pre-market trading.
Quarterly Results Top Wall Street Forecasts
For the third quarter, Atkore reported adjusted earnings of $1.92 per share, exceeding analysts’ consensus estimate of $1.78 by $0.14.
Revenue also came in ahead of expectations, reaching $794.8 million compared with the projected $781.08 million. Sales increased 8.1% from $735.0 million recorded in the same period last year.
On a GAAP basis, diluted earnings per share declined to $0.02 from $1.25 a year earlier. The decrease was primarily driven by a $50.0 million litigation settlement expense together with costs related to the announced acquisition.
Despite those one-off charges, adjusted EBITDA improved 4.7% year over year to $104.7 million, compared with $99.9 million in the prior-year quarter.
Management Highlights Broad-Based Improvement
Commenting on the results, President and Chief Executive Officer Bill Waltz pointed to continued operational momentum across the business.
“We were pleased with our third quarter results. Our net sales, adjusted EBITDA and adjusted EPS were all higher versus the prior year and they were sequentially higher from our second quarter,” said Bill Waltz, Atkore President and Chief Executive Officer.
Electrical Division Leads Revenue Growth
The company’s Electrical segment was the primary contributor to quarterly growth, with revenue increasing 10.9% year over year to $578.3 million.
Meanwhile, the Safety & Infrastructure division generated sales of $216.8 million, representing a 1.3% increase from the same quarter last year.
Atkore said higher shipment volumes contributed $65.7 million to revenue growth, while improved average selling prices added another $22.4 million. These gains were partially offset by a $39.0 million reduction related to divestitures.
Dividend Approved as Prysmian Acquisition Moves Forward
Atkore’s Board of Directors declared a quarterly dividend of $0.33 per share, which will be paid on August 28, 2026.
Given the pending acquisition by Prysmian, the company also confirmed that it will not update its previously issued financial guidance while the transaction remains in progress.
Atkore stock price
