Slide 1: First Quarter 2021 Earnings Presentation
First Quarter 2021 Earnings Presentation February 2, 2021 1
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 Q1 2021
Record Quarterly Earnings in Q1 2021 Revenue, $M Net Income, $M Adjusted EBITDA1, $M Adjusted EPS1, $/share +14% +145% +76% +100% 511.1 85.1 137.0 1.88 447.4 77.7 0.94 34.8 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 Review Outstanding results in Q1 supported by leading positi
Slide 4: Recent Events & Business Update
Recent Events & Business Update Renamed and redefined reportable segments to “Electrical” and “Safety & Infrastructure” to better reflect our value proposition to the market; plan to officially rename the company as “Atkore Inc.” within the quarter Received approval for a new two-year $100M stock re
Slide 5: Q1 Income Statement Summary
Q1 Income Statement Summary Y/Y Y/Y % Q1 2021 Q1 2020 ($’s in millions) Change Change Net Sales $511.1 $447.4 $63.7 14.2% Operating Income $119.9 $52.5 $67.4 128.2% Net Income $85.1 $34.8 $50.3 144.5% Adjusted EBITDA1 $137.0 $77.7 $59.3 76.3% Adjusted EBITDA Margin2 26.8% 17.4% +940 bps - Net Income
Slide 6: Consolidated Atkore Q1 2021 Bridges
Consolidated Atkore Q1 2021 Bridges Q1 Net Sales Bridge Net Sales % Change $81 $10 $511 $447M Volume/Mix (6.2%) $28 Price +18.2% Acquisitions / F/X / Other +2.2% Total +14.2% 2020 Volume/Mix Price M&A / F/X / Other 2021 Q1 Adjusted EBITDA Bridge Highlights $5 $137M $81 Tremendous execution of the At
Slide 7: Q1 2021 Segment Results
Q1 2021 Segment Results Electrical1 Safety & Infrastructure1 Q1 Q1 Y/Y Q1 Q1 Y/Y ($’s in millions) 2021 2020 Change ($’s in millions) 2021 2020 Change Net Sales $387.1 $324.5 19.3% Net Sales $124.8 $123.5 1.0% Adjusted EBITDA $133.3 $68.1 95.6% Adjusted EBITDA $14.3 $18.7 (23.9%) Adjusted EBITDA Mar
Slide 8: Cash, Leverage Ratio & Other Key Metrics
Cash, Leverage Ratio & Other Key Metrics Cash & Cash Equivalents, $M +$116M vs. Prior Year ($’s in millions) Q1 2021 284.5 280.4 Net cash from operating activities $86.3 237.3 Capital expenditures ($8.2) 164.1 Free cash flow1 $78.0 123.4 137.2 100.7 Debt Repayment ($40.0) 75.9 51.5 Stock repurchases
Slide 9: Strong PVC Electrical Conduit Business
Strong PVC Electrical Conduit Business Track Record of Successful Acquisitions 2013 2014 2015 2016 2017 2018 2019 2020 2021 Fiscal Year Excellent Geographic Coverage Network of nine facilities across the U.S. Distribution range optimized at ~500 miles or less Support growing markets such as resident
Slide 10: 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 Outlook Summary Outlook Items for Q2 2021 FY2021 Changes to Prior Initial FY2022 Consolidated Atkore Outlook Outlook FY2021 Outlook Perspec
Slide 11: Appendix
A Atkore Appendix
Slide 12: Segment Adjusted Information
SegmentAdjusted Information Earnings Per Share Reconciliation Three months ended December 25, 2020 December 27, 2019 Adjusted Adjusted Adjusted EBITDA Adjusted EBITDA (in thousands) Net sales EBITDA Margin Net sales EBITDA Margin Electrical $ 387,145 $ 133,273 34.4 % $ 324,547 $ 68,119 21.0 % Safety
Slide 13: Adjusted Earnings Per Share Reconciliation
Adjusted Earnings Per Share Reconciliation Consolidated Atkore International Group Inc. Three months ended December 25, December 27, (in thousands, except per share data) 2020 2019 Net income $ 85,066 $ 34,790 Stock-based compensation 5,522 3,123 Intangible asset amortization 8,260 8,113 Other (a) (
Slide 14: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation Consolidated Atkore International Group Inc. Three months ended December 25, December 27, (in thousands) 2020 2019 Net income $ 85,066 $ 34,790 Interest expense, net 8,254 10,620 Income tax expense 26,964 7,340 Depreciation and amortization 19,044 18,730
Slide 15: Trailing Twelve Month Adjusted EBITDA Reconciliation
Trailing Twelve AdjustedMonth Adjusted Earnings Per ShareEBITDA Reconciliation Reconciliation Consolidated Atkore International Group Inc. TTM Three months ended December December September June 26, March 27, (in thousands) 25, 2020 25, 2020 30, 2020 2020 2020 Net income $ 202,578 $ 85,066 $ 54,241
Slide 16: Net Debt and Leverage Ratio Reconciliation
Net DebtAdjusted to TotalEarnings Debt andPer Leverage Ratio Share Reconciliation Consolidated Atkore International Group Inc. December September June 26, March 27, December September June 28, March 29, December ($ in thousands) 25, 2020 30, 2020 2020 2020 27, 2019 28, 2019 2019 2019 28, 2018 Short-
Slide 17: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation Consolidated Atkore International Group Inc. Three months ended (in thousands) December 25, 2020 December 27, 2019 Net cash provided by operating activities $ 86,276 $ 52,173 Capital expenditures $ (8,229) $ (9,809) Free Cash Flow: $ 78,047 $ 42,364 17
Slide 18: Other Segment Results Information
Other Segment Results Information Fiscal Year Ended Historical Organization September 30, 2020 September 30, 2019 Adjusted Adjusted Adjusted EBITDA Adjusted EBITDA (in thousands) Net sales EBITDA Margin Net sales EBITDA Margin Electrical Raceway $ 1,331,275 $ 299,485 22.5 % $ 1,443,493 $ 292,585 20.
Slide 19: Thank You!
Thank You! atkore.com 16100 South Lathrop Avenue, Harvey, IL 60426