Atkore Inc. · NYSE:ATKR
Atkore — Q1 2023 Earnings Presentation
17 slides from Atkore's earnings presentation, Feb 1, 2023
Slide 1: First Quarter 2023 Earnings Presentation and Business Update
First Quarter 2023 Earnings Presentation and Business Update February 1, 2023 © Atkore
Slide 2: Cautionary Statements
Cautionary Statements This presentation is provided for general informational purposes only and it does not include every item which may be of interest, nor does it purport to present full and fair disclosure with respect to Atkore Inc. (the “Company” or “Atkore”) or its operational and financial in
Slide 3: Solid Start to FY23
Solid Start to FY23 Q1 Net Sales $M Net Income $M Adjusted EBITDA1 $M Diluted EPS $/share Adjusted Diluted EPS1 $/share 2023 +1% -1% -15% -10% -3% 840.8 833.8 204.8 293.0 4.32 4.20 4.58 4.61 173.5 263.8 511.1 447.4 85.1 137.0 1.75 1.88 77.7 34.8 0.71 0.94 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1
Slide 4: Q1 Income Statement Summary
Q1 Income Statement Summary ($’s in millions) Y/Y Y/Y % Q1 2023 Q1 2022 Change Change Net Sales $833.8 $840.8 ($7.0) (0.8%) Operating Income $231.6 $268.4 ($36.8) (13.7%) Net Income $173.5 $204.8 ($31.4) (15.3%) Adjusted EBITDA1 $263.8 $293.0 ($29.2) (10.0%) Adjusted EBITDA Margin2 31.6% 34.8% (320
Slide 5: Consolidated Atkore Bridges
Consolidated Atkore Bridges Q1 Net Sales Bridge Net Sales % Change 2023 $46 $841M $61 $834M Volume/Mix +5.2% $6 $108 Price (12.4%) Acquisitions +7.0% F/X / Other (0.6%) Total (0.8%) 2022 Volume/Mix Price M&A F/X / Other 2023 Adjusted EBITDA Bridge1 Highlights $293M $14 $108 $16 Volume growth led by
Slide 6: Segment Results
Segment Results Electrical Safety & Infrastructure ($’s in millions) Y/Y ($’s in millions) Y/Y Q1 2023 Q1 2022 Q1 2023 Q1 2022 Change Change Net Sales $638.7 $641.7 (0.5%) Net Sales $195.3 $200.5 (2.6%) Adjusted EBITDA $243.8 $279.5 (12.8%) Adjusted EBITDA $33.4 $27.4 21.8% Adjusted EBITDA Margin 38
Slide 7: Updated FY2023 Outlook
Updated FY2023 Outlook Increasing FY2023 Outlook for Adjusted EBITDA and Adjusted EPS. Continue to expect mid- single digit percentage volume/mix growth for full year Net Sales versus prior year. Outlook Summary Outlook Items for Q2 2023 FY2023 Updates to FY2023 FY2023 Consolidated Atkore Outlook Ou
Slide 8: Achieving Progress on our ESG Goals
Achieving Progress on our ESG Goals Published 2022 Sustainability Report Climate, Carbon and GHG Emissions Goal: Reduce Scope 1 and Scope 2 GHG intensity by 10% by 20251 2020 Baseline 2022 Progress 2025 Target 58.2 Metric Tons CO2e / Million $ 54.1 Metric Tons CO2e / Million $ 52.4 Metric Tons CO2e
Slide 9: Recent Recognition & Accolades
Recent Recognition & Accolades Ranked #195 out of 500 Ranked #8 in Forbes’ Great Place to Work® Top Workplaces largest U.S. public corporations 2023 Top 100 Best Mid-Sized Certified for USA Award for for Newsweek’s Companies 3rd year in a row 2nd year in a row 2023 America’s Most Responsible Compani
Slide 10: Appendix
Appendix © Atkore 10
Slide 11: Segment Information
Segment Information Three months ended December 30, 2022 December 24, 2021 Adjusted Adjusted Adjusted EBITDA Adjusted EBITDA (in thousands) Net sales EBITDA Margin Net sales EBITDA Margin Electrical $ 638,705 $ 243,836 38.2 % $ 641,683 $ 279,547 43.6 % Safety & Infrastructure 195,259 33,404 17.1 % 2
Slide 12: Adjusted Earnings Per Share Reconciliation
Adjusted Earnings Per Share Reconciliation Consolidated Atkore Inc. Three months ended December December December December (in thousands, except per share data) 30, 2022 24, 2021 25, 2020 27, 2019 Net income $ 173,492 $ 204,843 $ 85,066 $ 34,790 Stock-based compensation 5,270 3,427 5,522 3,123 Intan
Slide 13: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation Consolidated Atkore Inc. Three months ended December December December June 28, (in thousands) 30, 2022 24, 2021 25, 2020 2019 Net income $ 173,492 $ 204,843 $ 85,066 $ 34,790 Interest expense, net 9,488 6,918 8,254 10,620 Income tax expense 48,559 56,975
Slide 14: Trailing Twelve Month Adjusted EBITDA
Trailing Twelve Month Adjusted EBITDA Consolidated Atkore Inc. TTM Three months ended December 30, December 30, September March 25, June 24, 2022 (in thousands) 2022 2022 30, 2022 2022 Net income $ 882,084 $ 173,492 $ 220,802 $ 254,313 $ 233,477 Interest expense, net 33,245 9,488 9,000 7,243 7,514 I
Slide 15: Net Debt to Total Debt
Net Debt to Total Debt Consolidated Atkore Inc. December 30, September March 25, December 24, September June 24, 2022 ($ in thousands) 2022 30, 2022 2022 2021 30, 2021 Long-term debt 761,074 760,537 759,999 759,461 758,924 758,386 Total debt 761,074 760,537 759,999 759,461 758,924 758,386 Less cash
Slide 16: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation Consolidated Atkore Inc. Three months ended December December (in thousands) 30, 2022 24, 2021 Net cash provided by operating activities $ 198,851 $ 97,192 Capital expenditures (35,006) (9,358) Free Cash Flow: $ 163,845 $ 87,834 © Atkore 16
Slide 17: atkore.com
atkore.com © Atkore © Atkore 17