Atkore Inc. · NYSE:ATKR
Atkore — Investor Presentation (May 2024)
23 slides from Atkore's investor presentation, May 17, 2024
Slide 1: Investor Presentation & Company Overview May 2024
© Atkore Investor Presentation & Company Overview May 2024
Slide 2: Forward-looking statements disclaimer
2© Atkore 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 information. A
Slide 3: Atkore: A Compelling Investment
3© Atkore Atkore: A Compelling Investment Outstanding Financial Profile Strong liquidity position with a balance sheet ready to support and help drive future growth Differentiated & Diversified Product Portfolio Diverse catalog of must-stock products for electrical distributors including electrical
Slide 4: Our Foundation Is the Atkore Business System
4© Atkore Our Foundation Is the Atkore Business System
Slide 5: Our Products Are All Around You
5© Atkore Our Products Are All Around You HDPE Conduit Wire Basket Cable Tray & Fittings Telescoping Sign Support System Cable Tray, Ladder & Fittings Steel Conduit & Fittings PVC and Metal Trunking Electrical Prefabrication Flexible & Liquidtight Electrical Conduit Industrial Flexible Electrical Co
Slide 6: Structurally Improved Our Business Since IPO
6© Atkore Structurally Improved Our Business Since IPO Annual Net Sales & Adjusted EBITDA, $M 1. See non-GAAP reconciliation in appendix for full year 2017 to 2023 actual results. 2. Reconciliations of the forward-looking quarterly and full-year 2024 outlook for Adjusted EBITDA and Adjusted Diluted
Slide 7: Strong Financial Profile to Support Future Growth
7© Atkore Strong Financial Profile to Support Future Growth 1. See non-GAAP reconciliation in appendix. 1,504 1,835 1,917 1,765 2,928 3,914 3,519 2017 2018 2019 2020 2021 2022 2023 +15% CAGR Net Sales $M 228 272 324 327 898 1,342 1,042 2017 2018 2019 2020 2021 2022 2023 +29% CAGR Adjusted EBITDA1 $M
Slide 8: Buildings Need Electricity, Our Portfolio Delivers
8© Atkore Portfolio of Electrical Infrastructure products support a broad range of construction projects and are installed at various stages throughout a project’s lifecycle Buildings Need Electricity, Our Portfolio Delivers Over 90% of Atkore is “Electrical Infrastructure” CommercialIndustrial Inst
Slide 9: Exposed to Strong Electrical MegaTrends
9© Atkore Exposed to Strong Electrical MegaTrends MegaTrends supported by long-term federal programs with incentives to drive demand across Atkore’s five key product areas Plastic Pipe, Conduit & Fittings Metal Electrical Conduit & Fittings Metal Framing, Cable Management & Construction Services Ele
Slide 10: Product Portfolio Aligned to Strong Growth Trends
10© Atkore Product Portfolio Aligned to Strong Growth Trends 1. Atkore estimated analysis of electrical products installed per project type. 2. Atkore analysis based on expected change in total construction starts from industry sources such as Dodge Construction Network for 2019-2023 baseline compar
Slide 11: Conduits of Growth: Category Expansion Initiatives
11© Atkore Ramping Indiana facility Driving growth in FY 2024 Building out Texas and Georgia sites Expect benefits in FY 2025 & beyond Short-term channel & demand issues Anticipate growth rebound in FY 2025 Solar Related Torque Tube Capacity Regional Service Centers HDPE Power & Telecommunications C
Slide 12: Updated Capital Deployment Model
12© Atkore Updated Capital Deployment Model 1. Plan announced in November 2021. Balanced Capital Deployment Model Focused on Growth & Returns to Stockholders Updated Capital Deployment Model Capital Investments Stock Repurchases M&A Priority Uses for Capital Maintain Total Debt to normalized Adj. EB
Slide 13: Investing In Our Future: Capital Expenditures
13© Atkore FY 2023 Capital Expenditures FY 2024 & Future Planning Investing In Our Future Plan to further grow new Indiana facility with capabilities to support global mega projects Continue to invest and grow service capabilities with strategically located warehousing operations Expect continued in
Slide 14: Focused on Key Markets with Growth Opportunities
14© Atkore Critical mass in served markets Value creation Stewardship & Atkore values Focused on Key Markets with Growth Opportunities Seek growth in core product categories for scale in key markets Diligent assessment of macro growth trends and competitive landscape Unlock access to attractiv
Slide 15: Strategy On Track to Deliver Future Performance
15© Atkore Our Conduits of Growth and Capital Deployment Model to help drive future performance Strategy On Track to Deliver Future Performance Illustrative Adjusted Diluted EPS1,2 Bridge, $/share 1. See appendix for reconciliation for the full year 2017 to 2023 actual results. 2. Reconciliations of
Slide 16: Key Takeaways
16© Atkore Key Takeaways Outstanding Financial Profile Strong liquidity position with a balance sheet ready to support and help drive future growth Differentiated & Diversified Product Portfolio Diverse catalog of must-stock products for electrical distributors including electrical conduit, cable an
Slide 17: Appendix
17© Atkore Appendix
Slide 18: Adjusted Diluted EPS Reconciliation
18© Atkore Consolidated Atkore Inc. Adjusted Diluted EPS Reconciliation (Adjusted Net Income Per Diluted Share) (in thousands, except per share data) Fiscal Year Ended September 30, 2023 September 30, 2022 September 30, 2021 September 30, 2020 September 30, 2019 September 30, 2018 September 30, 2017
Slide 19: Net Income to Adjusted EBITDA Reconciliation
19© Atkore Net Income to Adjusted EBITDA Reconciliation Fiscal Year Ended (in thousands) September 30, 2023 September 30, 2022 September 30, 2021 September 30, 2020 September 30, 2019 September 30, 2018 September 30, 2017 Net income $ 689,899 $ 913,434 $ 587,857 $ 152,302 $ 139,051 $ 136,645 $ 84,63
Slide 20: Total Debt to Net Debt and Leverage Ratio
20© Atkore Total Debt to Net Debt and Leverage Ratio Consolidated Atkore Inc. ($ in thousands) September 30, 2023 September 30, 2022 September 30, 2021 September 30, 2020 September 30, 2019 September 30, 2018 September 30, 2017 Short-term debt and current maturities of long- term debt $ — $ — $ — $
Slide 21: Free Cash Flow Reconciliation
21© Atkore Free Cash Flow Reconciliation Consolidated Atkore Inc. Fiscal Year Ended (in thousands) September 30, 2023 September 30, 2022 September 30, 2021 September 30, 2020 September 30, 2019 September 30, 2018 September 30, 2017 Net cash provided by operating activities $ 807,634 $ 786,835 $ 572,
Slide 22: Glossary of Terms
22© Atkore Abbreviations listed in alphanumeric order Glossary of Terms Abbreviation Description 1H First Half 2H Second Half ABS Atkore Business System Adj. Adjusted AI Artificial Intelligence B Billion Capex Capital Expenditures DD% Double Digit Percentage EBITDA Earnings Before Interest, Taxes, D
Slide 23: Atkore - Building Better Together
A Atkore atkore.com BUILDING BETTER TOGETHER A Atkore Atkore 23