Why Atkore Shares Are Soaring Today

Electrical components and infrastructure equipment manufacturer Atkore (NYSE: ATKR) posted quarterly results that came in well ahead of expectations, and boosted guidance for the year. The stock is charging higher as a result, up as much as 18% in Tuesday trading.

Atkore earned $5.39 per share on revenue of $982.6 million in its fiscal second quarter, easily surpassing analyst expectations for $3.75 per share in earnings on sales of $800 million. Net sales were up 53.6% year over year, with Atkore's electrical products group growing revenue by 55.9% and its safety and infrastructure division up 46.9%.

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Source Fool.com