The electrical products maker posted fiscal third-quarter net sales of $794.8 million, while net income fell to $0.7 million after a $50.0 million litigation settlement.
Atkore said it has signed a definitive agreement to be acquired by Prysmian S.p.A. in an all-cash deal worth $95.00 per share, implying an enterprise value of about $3.8 billion, as the company reported fiscal 2026 third-quarter results showing higher sales and adjusted earnings but sharply lower net income. Net sales for the quarter ended June 26, 2026 rose 8.1% to $794.8 million from $735.0 million a year earlier, driven primarily by increased sales volume, higher average selling prices and foreign exchange benefits, partly offset by divestitures. Net income fell 98.3% to $0.7 million, or $0.02 per diluted share under GAAP (U.S. accounting standards), largely because of a $50.0 million settlement with the last of three putative classes in an ongoing litigation matter, related litigation costs and higher transaction costs tied to recent divestitures and the previously announced strategic review. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, with certain items excluded) increased 4.7% to $104.7 million, while adjusted net income per diluted share rose to $1.92 from $1.63. Atkore also approved a quarterly dividend of $0.33 per share, payable on August 28, 2026 to shareholders of record on August 18, 2026. Because of the pending Prysmian transaction, the company said it does not intend to update or reaffirm its prior financial outlook and canceled a previously scheduled August 4, 2026 earnings call, replacing it with an August 7, 2026 call required under the indenture for its Senior Notes due 2031.