Slide 1: Fourth Quarter and Full Year 2024 Earnings Presentation and Business Update
Fourth Quarter and Full Year 2024 Earnings Presentation and Business Update November 21, 2024 © 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: Today's Discussion
Today’s Discussion 1. FY 2024 Results & FY 2025 Outlook 2. Business Update 3. Capital Deployment Update & Long-term Trends © Atkore 3
Slide 4: FY 2024 Year in Review
FY 2024 Year in Review Achieved 3.5% organic Initiated new quarterly Maintained strong volume growth with dividend program and balance sheet with contributions across all returned ~75% of Total Debt Leverage key product areas operating cash flow to Ratio of ~1x; no shareholders through repayments un
Slide 5: Q4 and Full Year 2024 Review & Long-term Trends
Q4 and Full Year 2024 Review & Long-term Trends Organic volume grew over 3% with strong contributions from both segments; electrical cable and flexible conduit, metal framing, cable management and construction services Net sales, Adjusted EBITDA and Adjusted EPS within our range of expectations Low
Slide 6: Q4 and Full Year 2024
Q4 and Full Year 2024 Q4 Q42024 2023 Net Sales Net Income Adjusted EBITDA1 Diluted EPS Adjusted Diluted EPS1 $M $M $M $/share $/share -9% -48% -40% -44% -42% 870 141 232 3.63 4.21 788 140 2.02 2.43 73 Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 2024 FY 2024 -9% -32% -2
Slide 7: Consolidated Atkore Bridges
Consolidated Atkore Bridges Q4 2024 Net Sales Bridge Adjusted EBITDA Bridge1 Adjusted Diluted EPS Bridge1 $870M $27 $232M $8 $4.21 $0 $788 $104 $5 $18 $140M $0.49 $0.16 $2.43 $104 $1 $0.11 $13 $2.32 2023 Volume Price Solar Other2 2024 2023 Volume Price Cost Solar Other2 2024 2023 Quarterly Solar Sha
Slide 8: Key Product Area Trends & Review
Key Product Area Trends & Review FY 2024 Net Sales by Year-over-Year Volume/Mix % Change Product Area Trends & Key Key Product Area1 Comments FY 2024 vs. FY 2023 vs. Growth in PVC related products driven by double-digit growth FY 2023 FY 2022 in PVC water products in FY 2024 and expected growth for
Slide 9: Segment Bridges
Segment Bridges Electrical Safety & Infrastructure Y/Y ($’s in millions) Y/Y ($’s in millions) Q4 2024 Q4 2023 Q4 2024 Q4 2023 Change Change Net Sales $564.5 $649.8 (13.1%) Net Sales $224.5 $220.2 1.9% Adjusted EBITDA $145.7 $237.6 (38.7%) Adjusted EBITDA $14.9 $15.1 (1.6%) Adjusted EBITDA Margin 25
Slide 10: Initial FY 2025 Outlook
Initial FY 2025 Outlook Initial FY 2025 Outlook underpinned by anticipated low to mid single digit percentage volume growth in FY 2025 driven by projected growth across all key product areas Outlook Summary Outlook Items for Q1 2025 FY 2025 FY 2025 Consolidated Atkore Outlook Outlook Comments & Pers
Slide 11: Key Bridging Assumptions FY 2025 vs. FY 2024
Key Bridging Assumptions FY 2025 vs. FY 2024 We expect continued normalization of average selling prices in key product lines such as PVC electrical conduit, and expect a portion of the prior pricing outperformance to continue to normalize in FY 2025 Assumptions Summary – FY 2025 vs. FY 2024 Net Sal
Slide 12: Business Update
Business Update © Atkore 12
Slide 13: Atkore: a Compelling Investment
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 portfolio of electrical infrastructure products that support a wide range of end market ap
Slide 14: Strong Financial Profile Supports Future Growth
Strong Financial Profile Supports Future Growth Cash Flow from Operating Activities FY 2024 Cash Flow Bridge $M $M $787 $808 $549 $573 $549 $150 $6 $388M $351M $249 $381 $210 $34 $15 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2023 Cash Flow Capital M&A Stock Dividend Net Other FY 2024 Cash f
Slide 15: Portfolio Updates
Portfolio Updates Atkore’s extensive portfolio supports growth across diverse construction end markets and electrification megatrends; Regional Service Centers and co-load capabilities provide additional value unmatched in the industry Key Product Area Key Portfolio Updates Focused on expanding pres
Slide 16: Exposed to Strong Electrical Megatrends
Exposed to Strong Electrical Megatrends Megatrends supported by federal programs with incentives to drive demand across the portfolio Renewable Energy Grid Hardening Build America, Buy America | Inflation Reduction Act Build America, Buy America | Infrastructure Investment and Jobs Act Digital Infra
Slide 17: Data Centers Top Atkore's Product Density Scale
Data Centers Top Atkore’s Product Density Scale Atkore provides a comprehensive suite of products needed to power data centers Atkore Product Use Density Above Average Illustrative Example of Atkore’s Data Data Center Center Solutions Manufacturing Healthcare Lodging Average Use Density1 Education M
Slide 18: Capital Deployment Update & Long-term Trends
Capital Deployment Update & Long-term Trends © Atkore 18
Slide 19: Capital Deployment Model
Capital Deployment Model Balanced Capital Deployment Model Focused on Growth & Returns to Stockholders Updated Capital Deployment Model Status Update Capital $100M - $125M in expected capital expenditures in FY 2025; Target Cash Flow from Investments includes further investment in our growth initiat
Slide 20: Investing In Our Future
Investing In Our Future FY 2024 Capital Expenditures FY 2025 & Future Planning Investments to grow capabilities to support Existing Growth Initiatives (Solar, RSCs & HDPE) global megaprojects and compete in water- ~20% related end markets for PVC and HDPE Routine ~33% Continue to invest and grow ser
Slide 21: Growth Area: PVC & HDPE Water Pipe
Growth Area: PVC & HDPE Water Pipe Expanding our water-related PVC and HDPE offerings allows us to complement our existing conduit product offering, leverage our national footprint, and expand into key end markets Broad Product Leverage Our Expand into Offering of PVC National Key End and HDPE Water
Slide 22: Growth Area: Global Construction Services
Growth Area: Global Construction Services Supporting growth in data centers, semi-conductor manufacturing and other global megaproject categories through scalable and modular off-site manufacturing (OSM) services Integration of Complete Systems including non- Atkore Products Agile Off-Site Value Agi
Slide 23: Focused Strategy to Deliver Future Performance
Focused Strategy to Deliver Future Performance We expect our Growth Initiatives and Capital Deployment Model to help drive future performance while acknowledging various factors that may influence FY 2025 Illustrative Adjusted Diluted EPS1 Bridge, $/share $14.48 $7.80 - $8.90 FY 2024 Base Business V
Slide 24: Key Takeaways
Key Takeaways Outstanding Financial Profile Strong liquidity position with a balance sheet ready to support and help drive future growth Differentiated & Diversified Product Portfolio Diverse portfolio of electrical infrastructure products that support a wide range of end market applications through
Slide 25: Appendix
Appendix © Atkore 25
Slide 26: Q4 Income Statement Summary
Q4 Income Statement Summary Y/Y Y/Y % ($’s in millions) Q4 2024 Q4 2023 Change Change Net Sales $788.3 $869.9 ($81.6) (9.4%) Operating Income $102.1 $189.4 ($87.3) (46.1%) Net Income $73.1 $140.9 ($67.8) (48.1%) Adjusted EBITDA1 $140.2 $232.0 ($91.8) (39.6%) Adjusted EBITDA Margin2 17.8% 26.7% (890
Slide 27: FY 2024 Income Statement Summary
FY 2024 Income Statement Summary Y/Y Y/Y % ($’s in millions) FY 2024 FY 2023 Change Change Net Sales $3,202.1 $3,518.8 ($316.7) (9.0%) Operating Income $624.8 $893.5 ($268.7) (30.1%) Net Income $472.9 $689.9 ($217.0) (31.5%) Adjusted EBITDA1 $771.7 $1,042.1 ($270.4) (25.9%) Adjusted EBITDA Margin2 2
Slide 28: Segment Information
Segment Information Three Months Ended September 30, 2024 September 30, 2023 Adjusted Adjusted Adjusted EBITDA Adjusted EBITDA (in thousands) Net sales EBITDA Margin Net sales EBITDA Margin Electrical $ 564,535 $ 145,662 25.8 % $ 649,787 $ 237,577 36.6 % Safety & Infrastructure 224,507 14,898 6.6 %
Slide 29: Segment Information
Segment Information Fiscal Year Ended September 30, 2024 September 30, 2023 Adjusted Adjusted Adjusted EBITDA Adjusted EBITDA (in thousands) Net sales EBITDA Margin Net sales EBITDA Margin Electrical $ 2,354,978 $ 728,341 30.9 % $ 2,675,074 $ 1,004,853 37.6 % Safety & Infrastructure 849,077 89,982 1
Slide 30: Adjusted Diluted EPS Reconciliation
Adjusted Diluted EPS Reconciliation (Adjusted Net Income Per Diluted Share) Consolidated Atkore Inc. Three Months Ended Fiscal Year Ended September 30, September 30, September 30, September 30, (in thousands, except per share data) 2024 2023 2024 2023 Net income $ 73,119 $ 140,925 $ 472,872 $ 689,89
Slide 31: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation Consolidated Atkore Inc. Three Months Ended Fiscal Year Ended September 30, September 30, September 30, September 30, (in thousands) 2024 2023 2024 2023 Net income $ 73,119 $ 140,925 $ 472,872 $ 689,899 Income tax expense 18,759 39,537 114,365 160,391 Dep
Slide 32: Total Debt to Net Debt and Leverage Ratio
Total Debt to Net Debt and Leverage Ratio Consolidated Atkore Inc. September 30, September 30, September 30, September 30, September 30, September ($ in thousands) 2024 2023 2022 2021 2020 30, 2019 Short-term debt and current maturities of long-term debt $ — $ — $ — $ — $ — $ — Long-term debt 764,83
Slide 33: Glossary of Terms
Glossary of Terms Abbreviations listed in alphanumeric order Abbreviation Description Abbreviation Description 1H First Half LSD% Low Single Digit Percentage 2H Second Half M Million ABS Atkore Business System M&A Mergers & Acquisitions Adj. Adjusted MSD% Mid Single Digit Percentage AI Artificial In
Slide 34: atkore.com
A Atkore A Atkore atkore.com BUILDING BETTER TOGETHER