Slide 1: Second Quarter 2021 Earnings Presentation
Second Quarter 2021 Earnings Presentation April 29, 2021 © Atkore Inc.
Slide 2: Cautionary Statements
Cautionary Statements This presentation contains forward-looking statements that are subject to known and unknown risks and uncertainties, many of which are beyond our control. All statements other than statements of historical fact included in this presentation are forward-looking statements. Forwa
Slide 3: Record Quarterly Earnings in Q2 2021
Record Quarterly Earnings in Q2 2021 Revenue Net Income Adjusted EBITDA1 Adjusted EPS1 Business Review $M $M $M $/share Outstanding results in Q2 +219% +122% +182% +40% supported by leading position in PVC electrical conduit and 639.5 124.9 193.4 2.79 strength of key end-markets such as residential
Slide 4: Recently Acquired FRE Composites
Recently Acquired FRE Composites® A Canadian based manufacturer of fiberglass conduit solutions with two operating locations [Canada & US] that expands Atkore’s electrical product portfolio into an adjacent category and increases our exposure to the growing infrastructure market Strategic Attractive
Slide 5: Q2 Income Statement Summary
Q2 Income Statement Summary $’s in millions Y/Y Y/Y % Q2 2021 Q2 2020 Change Change Net Sales $639.5 $455.7 $183.9 40.4% Operating Income $164.4 $61.2 $103.2 168.8% Net Income $124.9 $39.2 $85.7 218.8% Adjusted EBITDA1 $193.4 $87.0 $106.4 122.2% Adjusted EBITDA Margin2 30.2% 19.1% +1,110 bps - Net I
Slide 6: Consolidated Atkore Q2 2021 Bridges
Consolidated Atkore Q2 2021 Bridges Q2 Net Sales Bridge Net Sales % Change $163 $20 $640 Volume/Mix +0.1% $456M $1 Price +35.6% Acquisitions / F/X / Other +4.7% Total +40.4% 2020 Volume/Mix Price M&A / F/X / Other 2021 Q2 Adjusted EBITDA Bridge Highlights $163 $7 $193M Outstanding execution of the A
Slide 7: Q2 2021 Segment Results
Q2 2021 Segment Results Electrical Safety & Infrastructure ($’s in millions) ($’s in millions) Y/Y Y/Y Q2 2021 Q2 2020 Q2 2021 Q2 2020 Change Change Net Sales $487.5 $323.2 50.8% Net Sales $152.7 $133.1 14.7% Adjusted EBITDA $188.8 $77.2 144.5% Adjusted EBITDA $16.2 $17.9 (9.5%) Adjusted EBITDA Marg
Slide 8: Cash Flow Review
Cash Flow Review FY21 YTD Cash Flow Bridge, $M $153M $20 $133 $44 $40 $35 $6 $20 Cash Flow From Capital Free Cash Flow1 M&A Activities Debt Repayment Stock Repurchases Net Other Net Increase in Operating Activities Expenditures Sources of Cash Cash vs. Q4 20 Disciplined & Balanced Approach to Capita
Slide 9: Raising FY2021 Outlook
Raising FY2021 Outlook Increasing FY21 estimates for Net Sales, Adjusted EBITDA and Adjusted EPS, driven by stronger than expected PVC conduit trends in 1H 2021 and expectations for the remainder of the fiscal year. Note, prior year performance in Q3 2020 significantly impacted by the temporary shut
Slide 10: Track Record Of Growth
Track Record Of Growth Adjusted EBITDA Outlook Comments & Perspective $M Atkore Base Business Anticipate >10% CAGR Outperformance in FY21 Between FY20-FY22 Anticipate recent supply demand $700 - $750 trends to normalize as we approach the fall / winter months of calendar 2021 400 Current FY22 perspe
Slide 11: Appendix
Appendix © Atkore.
Slide 12: Segment Information
Segment Information Three months ended March 26, 2021 March 27, 2020 Adjusted Adjusted Adjusted EBITDA Adjusted EBITDA (in thousands) Net sales EBITDA Margin Net sales EBITDA Margin Electrical $ 487,500 $ 188,826 38.7 % $ 323,218 $ 77,233 23.9 % Safety & Infrastructure 152,700 16,193 10.6 % 133,130
Slide 13: Adjusted Earnings Per Share Reconciliation
Adjusted Earnings Per Share Reconciliation Consolidated Atkore Inc. Three months ended (in thousands, except per share data) March 26, 2021 March 27, 2020 Net income $ 124,933 $ 39,193 Stock-based compensation 4,868 4,523 Intangible asset amortization 8,096 8,071 Other (a) (2,855) (1,503) Pre-tax ad
Slide 14: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation Consolidated Atkore Inc. Three months ended March 26, March 27, (in thousands) 2021 2020 Net income $ 124,933 $ 39,193 Interest expense, net 8,416 10,564 Income tax expense 38,304 13,100 Depreciation and amortization 19,265 18,478 Stock-based compensation
Slide 15: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation Consolidated Atkore Inc. Fiscal Year Ended September 30, September 30, September 30, September 30, September 30, September 30, (in thousands) 2020 2019 2018 2017 2016 2015 Net income $ 152,302 $ 139,051 $ 136,645 $ 84,639 $ 58,796 $ (4,955) Income tax exp
Slide 16: Trailing Twelve Month Adjusted EBITDA
Trailing Twelve Month Adjusted EBITDA Consolidated Atkore Inc. TTM Three months ended March 26, March 26, December September June 26, (in thousands) 2021 2021 25, 2020 30, 2020 2020 Net income $ 288,318 $ 124,933 $ 85,066 $ 54,241 $ 24,078 Interest expense, net 35,548 8,416 8,254 9,457 9,421 Income
Slide 17: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation Consolidated Atkore Inc. Six months ended (in thousands) March 26, 2021 March 27, 2020 Net cash provided by operating activities $ 153,246 $ 49,284 Capital expenditures $ (20,374) $ (17,139) Free Cash Flow: $ 132,872 $ 32,145 © Atkore 17
Slide 18: Thank you!
Thank you! atkore.com 16100 South Lathrop Avenue, Harvey, IL 60426 © Atkore Inc.