Stock Story -
Electrical safety company Atkore (NYSE:ATKR) will be announcing earnings results tomorrow before the bell. Here's what to look for.
Atkore missed analysts' revenue expectations by 1.9% last quarter, reporting revenues of $792.9 million, down 11.5% year on year. It was a weak quarter for the company, with a miss of analysts' organic revenue estimates.
Is Atkore a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Atkore's revenue to decline 9.7% year on year to $830.2 million, improving from the 13.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.99 per share.
Heading into earnings, analysts covering the company have had mixed opinions about the business, with revenue estimates seeing 2 upward and 2 downward revisions over the last 30 days. Atkore has missed Wall Street's revenue estimates four times over the last two years.
Looking at Atkore's peers in the electrical systems segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Allegion delivered year-on-year revenue growth of 5.8%, beating analysts' expectations by 1.1%, and Whirlpool (NYSE:WHR) reported a revenue decline of 16.8%, in line with consensus estimates. Allegion traded up 4.4% following the results while Whirlpool was also up 2.9%.
Read the full analysis of Allegion's and Whirlpool's results on StockStory.
There has been positive sentiment among investors in the electrical systems segment, with share prices up 2.8% on average over the last month. Atkore is down 6.5% during the same time and is heading into earnings with an average analyst price target of $180.5 (compared to the current share price of $122.5).
![Earnings To Watch: Atkore (ATKR) Reports Q2 Results Tomorrow](https://d68-invdn-com.investing.com/content/picb1c574605b2f9b4c27e928f9bf08cbd0.jpeg)