Atkore Inc. (NYSE:ATKR) Q1 2024 Earnings Conference Call February 1, 2024 8:00 AM ET

Company Participants

John Deitzer - VP, Treasury and IR

Bill Waltz - President and CEO

David Johnson - CFO

Conference Call Participants

Andy Kaplowitz - Citigroup

Deane Dray - RBC

Chris Moore - CJS Securities

Alex Rygiel - B. Riley

Chris Dankert - Loop Capital

Operator

Good morning. My name is Rob, and I will be your conference operator today. At this time, I would like to welcome everyone to Atkore's First Quarter Fiscal Year 2024 Earnings Conference Call. [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 and 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. And any reference to EPS or adjusted EPS means adjusted diluted earnings per share. Adjusted EBITDA and adjusted diluted earnings per share are non-GAAP measures. Reconciliations of non-GAAP measures in the presentation of the most comparable GAAP measures are available in the appendix to today's presentation.

With that, I'll turn it over to Bill.

Bill Waltz

Thanks, John, and good morning, everyone.

Starting on Slide 3, Atkore is off to a strong start for FY '24, and we are demonstrating the structural improvements and transformation that we made to our business over the past several years. I'm proud to share that volumes for the quarter were up 13%, driven by contributions across all key product areas. We're focused on executing our capital deployment model as evidenced by the $96 million in shares repurchased in the first quarter and the continued activity in January.

In addition, I'm very pleased to announce that we've officially declared our first quarterly dividend, a very exciting achievement for our company. I also want to highlight the release of our fiscal year 2023 Sustainability Report, which was published last month. This report provides an update on the progress against our 2025 targets and covers additional important topics and initiatives.