Short answer
Atkore Inc. (ATKR) filed its fiscal 2025 10-K annual report with the SEC on Nov 26, 2025. It reported revenue of $2.9B (−11.0% year over year) and net income of −$15M.
- Top risk flagged: Regulatory risk from changes to National Electrical Code and related state/local laws potentially increasing compliance costs or expanding alternative product competition
FY2025 key financial metrics · XBRL
- Revenue
- $2.9B
- −11.0% YoY
- Net income
- −$15M
- −103.2% YoY
- Operating margin
- 0.8%
- −18.7 pp YoY
- Gross margin
- 23.7%
- −9.9 pp YoY
- EPS (diluted)
- −$0.45
- −103.5% YoY
- ROE
- -1.1%
- −31.8 pp YoY
- Operating cash flow
- $403M
- −26.6% YoY
Source: XBRL data from the Atkore Inc. (ATKR) FY2025 10-K on SEC EDGAR. USD.
Atkore Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Manufacturer of electrical products and safety & infrastructure solutions for non-residential construction, residential, industrial, and OEM markets
- New emphasized products: Expanded patented MC Glide Tuff armored cable and introduced 20’ Kwik-Fit Steel Conduit for faster installation
- Strategic shift: Consolidated branding under master brand Atkore since 2020, reinforced by multiple tED Marketing Excellence awards in fiscal 2025
- Quantitative metric: Employee count ~5,400 full-time equivalents with 6% temporary; 20% of positions filled internally in fiscal 2025
- Noteworthy fact: Announced closure of three manufacturing facilities in fiscal 2026 to optimize footprint across 38 global sites
Management Discussion & Analysis
- Revenue $2.85B, down 11.0% YoY ($351.7M decrease) due to 11.9% lower average selling prices and divestitures
- Operating income $23.2M vs $624.8M; operating margin declined sharply to 0.8% from 19.5%
- Electrical segment sales fell 15.1% to $2.0B with Adjusted EBITDA down 54.6% to $330.5M; Safety & Infrastructure grew sales 0.5% to $853.4M with 21.3% EBITDA increase to $109.2M
- Cash and equivalents $506.7M, up $155.3M; capex $107.1M on production capacity and growth initiatives; no borrowings on $325M ABL facility; dividend program initiated fiscal 2025
- Management highlights economic uncertainty, raw material price fluctuations, and restructuring costs including $214.4M asset impairment; cautious on supply chain, inflation, and geopolitical risks impacting future operations
Risk Factors
- Regulatory risk from changes to National Electrical Code and related state/local laws potentially increasing compliance costs or expanding alternative product competition
- Macroeconomic risk from U.S. non-residential construction dependency; starts rose to 1,209 million sq ft in fiscal 2025 but remain cyclical and sensitive to interest rates
- Operational risk in supply chain due to dependence on steel, copper, and resin commodity prices with no material hedging affecting gross profit volatility
- Competitive risk from increased use of AI, data analytics, and machine learning by competitors potentially reducing market share and pressuring margins
- Financial risk from customer concentration: top 10 customers accounted for ~40% of net sales fiscal 2025, with Sonepar USA alone >10% sales and 13% accounts receivable
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