Atkore Inc. (ATKR), a manufacturer of electrical products, on Tuesday reported a wider net loss for the second quarter compared to the prior year despite an increase in revenue.
In pre-market activity on the NYSE, shares of Atkore were gaining 3.53 percent, trading at $76.25, after closing Monday's regular trading 1.17 percent lower.
Net loss widened by 147.9 percent, to $124.07 million or $3.65 per share from $50.06 million or $1.46 per share for the prior-year period, driven by increased expenses, especially litigation settlement expenses of $136.5 million, which were absent last year.
On the other hand, adjusted net income came in at $41.85 million or $1.23 per share compared with $70.00 million or $2.04 per share, a year before.
Adjusted EBITDA was $81.05 million versus $116.41 million, in the prior year.
However, quarterly revenue rose 4.2 percent to $731.38 million from $701.73 million, attributed to increased sales volume of $32.3 million.
Looking ahead to fiscal 2026, the Company is maintaining its estimated range of Adjusted EBITDA at $340 to $360 million, and Adjusted net income per diluted share at $5.05 to $5.55.
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