Atkore Inc. (NYSE:ATKR) Q2 2023 Results Conference Call May 9, 2023 8:00 AM ET

Company Participants

John Deitzer - Vice President of Investor Relations

William Waltz - President and Chief Executive Officer

David Johnson - Chief Financial Officer

Conference Call Participants

Deane Dray - RBC

Christopher Dankert - Loop Capital

Andy Kaplowitz - Citigroup

Chris Moore - CJS Securities

Alex Rygiel - B. Riley

Operator

Good morning. My name is Mandeep, and I will be your conference operator today. At this time, I would like to welcome everyone to Atkore’s Second Quarter Fiscal Year 2023 Earnings Conference Call. All lines will be placed in a listen-only mode. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]

As a reminder, this conference is being recorded. Thank you. I would now like to turn the conference over to your host, John Deitzer, Vice President of Treasury and Investor Relations. Thank you. You may begin.

John Deitzer

Thank you, and good morning, everyone. I’m joined today by Bill Waltz, President and CEO as well as David Johnson, Chief Financial Officer. We will take your questions after comments by Bill and David.

I would like to remind everyone that during this call, we may make projections or Forward-Looking Statements regarding future events or financial performance of the Company. Such statements involve risks and uncertainties such that actual results may differ materially.

Please refer to our SEC filings in today’s press release, which identify important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements.

In addition, any reference in our discussion today to EBITDA means adjusted EBITDA. Adjusted EBITDA is a non-GAAP measure. Reconciliations of non-GAAP measures and a presentation of the most comparable GAAP measures are available in the appendix to today’s presentation.

With that, I will turn it over to Bill.

William Waltz

Thanks John, and good morning, everyone. Starting on Slide 3 and our results in the second quarter. I’m pleased to share our earnings performance, which was slightly better than our expectations and reflects the strength of our business model.

At a high level, volume in the quarter was up 4% in line with our expectations for mid-single digit volume growth for the full-year. As expected, pricing contingents to normalize versus the record highs of last year, which drove the year-over-year change. Net sales, adjusted EBITDA, and adjusted EPS all increase sequentially from the first quarter. Overall, the team delivered solid results.