Atkore Inc. · NYSE:ATKR
Atkore — Investor Presentation (September 2023)
19 slides from Atkore's investor presentation, Sep 1, 2023
Slide 1: Investor Presentation & Company Overview September 2023
© Atkore Investor Presentation & Company Overview September 2023
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 Disciplined Operational Focus Values-based organization driven by the Atkore Business System Track Record of Success Strong track record of earnings growth, increasing free cash flow and excellent return on capital Market Leadership Leading market share in k
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 & Liquid Tight Electrical Conduit Industrial Flexible Electrical C
Slide 6: Our Business Has Transformed Since IPO
6© Atkore Transformed sales mix to drive significant revenue growth and profitability through organic and inorganic activities while increasing our total addressable market opportunity Our Business Has Transformed Since IPO 1. See non-GAAP reconciliation in appendix. 2. Sales of “Other Electrical pr
Slide 7: New Large Tube Capacity & Capabilities Provide Opportunity
7© Atkore New Large Tube Capacity & Capabilities Provide Opportunity Solar megatrend represents a growth and category expansion opportunity — leveraging recent capability and capacity investments for mechanical tubing products that can be used in renewable energy applications. In May 2022, unveiled
Slide 8: Solid Results in Q3 2023
8© Atkore Solid Results in Q3 2023 1. See non-GAAP reconciliation in appendix. 493.5 384.9 853.7 1,061.6 895.9 919.1 Q3 2019 Q3 2020 Q3 2021 Q3 2022 Q2 2023 Q3 2023 +2.6% 88.5 63.7 274.3 377.5 276.0 270.3 Q3 2019 Q3 2020 Q3 2021 Q3 2022 Q2 2023 Q3 2023 -2.1% 1.04 0.67 3.96 6.07 4.87 5.72 Q3 2019 Q3
Slide 9: Solar Credit Accounting Treatment Explanation
9© Atkore Solar Credit Accounting Treatment Explanation 1. For additional details, see Note 2, “Revenue from Contracts with Customers” in our forms 10-Q filed May 9, 2023 and August 8, 2023. 2. See non-GAAP reconciliation in appendix Adjusted EBITDA2 Net Sales Adjusted Diluted EPS2 $5.22 $5.72$0.50
Slide 10: Cash Flow from Operating Activities
10© Atkore Cash Flow from Operating Activities Q3 2023 YTD Cash Bridge Cash Flow Summary $564 $123 $83 $416 $13 FY22 YE Cash Balance Cash Flow From Operating Activities Capital Expenditures M&A Stock Repurchases Net Other Uses of Cash Q3 2023 YTD Cash Balance $389M $318M $372M $564M Q3 2022 YTD Q3 2
Slide 11: Capital Deployment Framework
11© Atkore Capital Deployment Framework 1. Plan announced in November 2021. Capital Deployment Focused on Driving Growth in Adjusted Diluted EPS Capital Deployment Model – FY 2023 & Forward Capital Expenditures, Organic Growth, and Capacity Investments M&A Stock Repurchases Priority Uses for Capital
Slide 12: Appendix
12© Atkore Appendix
Slide 13: Net Income to Adjusted EBITDA Reconciliation
13© Atkore Net Income to Adjusted EBITDA Reconciliation Consolidated Atkore Inc. Fiscal Year Ended (in thousands) September 30, 2022 September 30, 2021 September 30, 2020 September 30, 2019 September 30, 2018 September 30, 2017 Net income $ 913,434 $ 587,857 $ 152,302 $ 139,051 $ 136,645 $ 84,639 In
Slide 14: Net Income to Adjusted EBITDA Reconciliation (Three Months)
14© Atkore Net Income to Adjusted EBITDA Reconciliation Three months ended (in thousands) June 30, 2023 March 31, 2023 June 24, 2022 June 25, 2021 June 26, 2020 June 28, 2019 Net income $ 201,288 $ 174,194 $ 254,313 $ 175,297 $ 24,078 $ 36,550 Interest expense, net 8,682 8,475 7,243 8,090 9,421 12,7
Slide 15: Net Income to Adjusted EBITDA Reconciliation (Government Grant Accounting Model)
15© Atkore Net Income to Adjusted EBITDA Reconciliation (Under Government Grant Accounting Model) (in thousands) June 30, 2023 Income before income taxes (as reported) $ 220,219 Total solar credits generated (a) 20,248 Income before income taxes (adjusted for solar credits) 240,467 Income tax expens
Slide 16: Earnings Per Share Reconciliation (Government Grant Accounting Model)
16© Atkore Earnings Per Share Reconciliation (Under Government Grant Accounting Model) (in thousands) June 30, 2023 Income before income taxes (as reported) $ 220,219 Total solar credits generated (a) 20,248 Income before income taxes (adjusted for solar credits) 240,467 Income tax expense (at 24.4%
Slide 17: Adjusted Diluted EPS Reconciliation
17© Atkore Adjusted Diluted EPS Reconciliation (Adjusted Net Income Per Diluted Share) Three months ended (in thousands, except per share data) June 30, 2023 March 31, 2023 June 24, 2022 June 25, 2021 June 26, 2020 June 28, 2019 Net income $ 201,288 $ 174,194 $ 254,313 $ 175,297 $ 24,078 $ 36,550 St
Slide 18: Adjusted Diluted EPS Reconciliation (Government Grant Accounting Model)
18© Atkore Adjusted Diluted EPS Reconciliation Consolidated Atkore Inc. (Adjusted Net Income Per Diluted Share, Under Government Grant Accounting Model) (in thousands) June 30, 2023 Income before income taxes (as reported) $ 220,219 Total solar credits generated (a) 20,248 Income before income taxes
Slide 19: Atkore - Building Better Together
A Atkore atkore.com BUILDING BETTER TOGETHER A Atkore Atkore 19