By Natalie Weger
Atkore shares slumped after the company reported lower third-quarter revenue and said its chief executive plans to retire.
Shares were down 26% at $56.72 on Tuesday. The stock is down 32% this year.
The maker of electrical products posted net sales of $735 million, down 11% from last year's comparable quarter. Analysts polled by FactSet expected $736.4 million.
Atkore said Chief Executive William Waltz plans to retire. He joined the company in 2013 and has been CEO since 2018. The company's board is working to identify a new CEO.
Atkore reported a narrowed profit of $43 million, or $1.25 a share, in the quarter ended June 27, compared with $123.4 million, or $3.33 a share, last year.
Adjusted per-share earnings were $1.63, above analyst expectations of $1.58.
Write to Natalie Weger at natalie.weger@wsj.com
(END) Dow Jones Newswires
August 05, 2025 13:25 ET (17:25 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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