Atkore's Q2 2025: Unpacking Contradictions in PVC Market Share, Volume Growth, and Tariff Impacts

PVC conduit market share and competition, volume growth expectations, tariff impact and market share in PVC conduit, tariff impact and steel pricing, vulnerability in HD PVC products are the key contradictions discussed in Atkore's latest 2025Q2 earnings call.



Strong Second Quarter Performance:
- Atkore reported net sales of $702 million for the second quarter of fiscal 2025, with 5% organic volume growth.
- The growth was attributed to strong contributions from construction services, steel conduit, metal framing, and cable management products.

Impact of Tariffs and Pricing Dynamics:
- Atkore's pricing for steel conduit products showed sequential quarter increases, while average selling prices declined 17% year-over-year.
- The company is optimistic about the demand for U.S.-made steel conduit due to tariffs, which are expected to favor domestic production.

Volume Growth and Product Area Performance:
- Year-to-date, volumes for metal framing, cable management, and construction services grew high single-digits, supported by large construction projects and data center activity.
- The increase in demand for U.S.-made products and strong performance in metal framing and cable management products contributed to this growth.

Financial Performance and Guidance:
- Adjusted EBITDA was $116 million, with adjusted EPS at $2.04 for the second quarter.
- The company maintains its full-year 2025 adjusted EBITDA outlook with a midpoint of $400 million, despite uncertainties in macroeconomic conditions.