Atkore Inc.: Initiation Of Coverage – How Are They Executing The Expansion into Renewable Energy Sectors? 

Atkore, a prominent player in the construction and electrical solutions sector, delivered a mixed fiscal third-quarter performance amidst challenging market dynamics and competitive pressures. During the quarter, Atkore experienced flat year-over-year organic growth, which highlighted a balance between gains from solar energy projects and its construction services against broad pricing declines across its Electrical business. This period did not witness the usual summer surge in construction demand, which generally bolsters performance. Contributing to the subdued results was the substantial pricing competition, particularly in the PVC conduit business, prompted by heightened participation in large-scale projects and an influx of imported steel conduit, primarily from Mexico. This has notably surpassed agreed-upon trade limits, applying additional pressure on pricing and margins.