Atkore (US:ATKR) Zacks Investment Researchยท2024-02-01 13:11Group 1: Earnings Performance - Atkore Inc. reported quarterly earnings of $4.12 per share, exceeding the Zacks Consensus Estimate of $3.54 per share, but down from $4.61 per share a year ago, representing an earnings surprise of 16.38% [1] - The company posted revenues of $798.48 million for the quarter, surpassing the Zacks Consensus Estimate by 3.62%, but down from $833.82 million year-over-year [1] Group 2: Market Performance and Outlook - Atkore Inc. shares have declined approximately 4.7% since the beginning of the year, while the S&P 500 has gained 1.6% [2] - The current consensus EPS estimate for the upcoming quarter is $4.16 on revenues of $893.5 million, and for the current fiscal year, it is $16.54 on revenues of $3.54 billion [4] Group 3: Industry Context - The Wire and Cable Products industry, to which Atkore belongs, is currently ranked in the bottom 22% of over 250 Zacks industries, indicating potential challenges ahead [4] - Another company in the same industry, Belden, is expected to report quarterly earnings on February 8, with a projected EPS of $1.12, reflecting a year-over-year decline of 36% [5]