Atkore : Q2 2026 Earnings Call Presentation

Published: 2026-05-05 06:13:22 ET ATKR

Published on 05/05/2026 at 06:13 am EDT

May 5, 2026

+11%

Net Sales

656

702

Net Income/(Loss)

-927%

-50

731

Adjusted EBITDA1

Diluted EPS/(Loss) Per Share

-930%

0.44

-1.46

$/share

Adjusted Diluted EPS1

$/share

+48%

1.23

0.83

2.04

Q2 2025 Q1 2026 Q2 2026

-124

Q2 2025 Q1 2026 Q2 2026

-3.65

116

+17%

Q2 2025 Q1 2026 Q2 2026

Business Updates

1. See non-GAAP reconciliation in appendix. 3

($'s in millions)

Q2 2026

Q2 2025

Y/Y Change

Y/Y %

Change

Net Sales

$731.4

$701.7

$29.7

4.2%

Operating Income

$10.4

($51.8)

$62.2

120.0%

Net (Loss)/Income

($124.1)

($50.1)

($74.0)

(147.7%)

Adjusted EBITDA1

$81.1

$116.4

($35.3)

(30.3%)

Adjusted EBITDA Margin2

11.1%

16.6%

(550 bps)

Tax Rate

21.8%

24.7%

290 bps

Net (Loss)/Income Per Share (Diluted)

($3.65)

($1.46)

($2.19)

(150.0%)

Adjusted Diluted EPS1

$1.23

$2.04

($0.81)

(39.7%)

2026

Net Sales % Change

Volume/Mix

4.6%

Price

1.5%

Divestiture

(1.8%)

Other1

(0.1%)

Total

4.2%

Net Sales Bridge

$702M

$32

$10

$731M

$13 $0

2025 Volume/Mix Price Divestiture Other1 2026

Adjusted EBITDA Bridge2

$116M

$11

$81M

$62

$10

Adjusted Diluted EPS Bridge2

$0.01

$1.23

$0.74

$0.09

$2.04

2025 Volume/Mix Price Cost

Changes

Divestiture Other1 2026

2025 Quarterly Results

Divestiture Share Count Other1 2026

FY 2026 YTD Net Sales by Key Product Area1

Year-over-Year Volume/Mix % Change

Product Area Trends & Portfolio Updates

Metal Framing,

Cable Management & Construction Services

Plastic Pipe, Conduit & Fittings

Metal Electrical Conduit & Fittings

Electrical Cable & Flexible Conduit

Mechanical Tube & Other

27%

22%

17%

12%

$1,387M

FY 2026 YTD vs.

FY 2025 YTD

+ LSD%

+ HSD%

+ MSD%

- MSD%

+ DD%

+ 3.5%

FY 2025 YTD vs.

FY 2024 YTD

+ HSD%

- MSD%

Flat

+ LSD%

- DD%

Flat

Electrical Safety & Infrastructure

($'s in millions)

Q2 2026

Q2 2025

Y/Y Change

($'s in millions)

Q2 2026

Q2 2025

Y/Y

Change

Net Sales

$532.5

$492.7

8.1%

Net Sales

$199.1

$209.3

(4.9%)

Adjusted EBITDA

$74.4

$90.9

(18.2%)

Adjusted EBITDA

$17.3

$36.1

(52.1%)

Adjusted EBITDA Margin

14.0%

18.5%

(450 bps)

Adjusted EBITDA Margin

8.7%

17.2%

(850 bps)

Q2 Net Sales Bridge Q2 Net Sales Bridge

$493M

$28

$533M

$209M

$199M

$10

2025 Volume/Mix Price Divestiture Other1 2026 2025 Volume/Mix Price Divestiture Other1 2026

1. "Other" may include items such as F/X, M&A, productivity, solar tax credits, investments, interest and tax rate. 7

FY26 YTD Cash Bridge

$507M

$18

$46

$442M

$26

$22

$19

Debt Maturity Profile

$400

$373

$325

FY25 YE

Cash Flow

March AR

Capital

Divestiture

Dividend

Net Other

FY26 YTD

FY 2026

FY 2027

FY 2028

FY 2029

FY 2030

FY 2031

FY 2032

Cash

Balance

From

Operating

Receipts

Timing

Expenditures

Payment

Uses of

Cash

Balance

Undrawn

Asset Based

Loan S

enior Secured Term Loan

Senior Notes

Activities

FY 2026 Outlook underpinned by anticipated mid-single digit percentage volume growth in FY 2026

Outlook Summary

Outlook Items for Consolidated Atkore

FY 2026

Outlook

Updates to FY 2026 Outlook Midpoint

FY 2026

Comments & Perspective

Net Sales

$2.90B - $2.95B

Removes 2H HDPE

Reduction reflects ~($75M) from 2H for HDPE and Belgium divestiture;

Tectron divestiture impact reflected at end of Q1

We expect Q3 operating results to increase sequentially versus Q2, and Q4 to be slightly higher than Q3

Tax rate for Adj. EPS expected to be in range of 22-24% in the 2H

Adjusted EBITDA1

$340M - $360M

N/A

Adjusted Diluted EPS1

$5.05 - $5.55

N/A

Interest Expense

$31M - $34M

N/A

Capital Expenditures

$80M - $90M

N/A

1. Reconciliations of the forward-looking quarterly and full-year 2026 outlook for Adjusted EBITDA and Adjusted Diluted EPS is not being provided as the Company does not currently have sufficient data to 9

accurately estimate the variables and individual adjustments for such reconciliation. Accordingly, we are relying on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K to exclude these reconciliations.

Significant progress underway to achieve strategic priorities

FEBRUARY 2025

Divested Northwest Polymers

DECEMBER 2025

Divested Tectron Tube

MARCH 2026

Exited 3 manufacturing facilities

APRIL 2026

Divested HDPE business

APRIL 2026

Divested surface protection and powder coating business in Belgium

ONGOING

Implementing 80/20 initiatives within certain product categories

Decisive actions to enable future shareholder value creation

Prioritize portfolio of domestically manufactured

electrical infrastructure products

Maintain strong financial profile

Drive operational excellence with the Atkore Business System

Meet secular demand for

focusing on shareholder returns

expected growth in core electrical end markets

Appendix

(in thousands, except per share data)

Three months ended

March 27,

2026

December 26, 2025

March 28,

2025

Net income

$ (124,073) $

15,034

$ (50,057)

(Adjusted Net Income Per Diluted Share) Consolidated Atkore Inc.

Stock-based compensation

12,848

4,020

7,713

Intangible asset amortization

6,282

6,310

10,166

(Gain) Loss on sale of business

(2,275)

6,101

Accelerated depreciation (b)

9,739

8,165

Loss on assets held for sale

25,664

281

Impairment of assets

11,553

127,733

Restructuring (c)

4,128

Transaction costs (c)

4,020

Litigation settlement expense

136,500

Other (a)

4,745

1,086

2,822

Pre-tax adjustments to net income

215,479

17,306

154,816

Tax effect

(49,560)

(4,327)

(38,704)

Additional tax expense related to divestiture of a business

3,946

Adjusted net income

$ 41,846

$ 28,013

$ 70,001

Weighted-average diluted common shares outstanding

33,959

33,905

34,290

Net income per diluted share

$ (3.65)

$ 0.44

$ (1.46)

Adjusted net income per diluted share

$ 1.23

$ 0.83

$ 2.04

Represents other items, such as inventory reserves and adjustments, loss on disposal of property, plant and equipment, insurance recovery related to damages of property, plant and equipment, release of indemnified uncertain tax positions and realized or unrealized gain (loss) on foreign currency impacts of intercompany loans and related forward currency derivatives.

Additional depreciation related to plant closures.

Beginning in the second quarter of fiscal 2026, restructuring charges and transaction costs will be included as adjustments to adjusted net income. These charges have historically been included as adjustments to adjusted EBITDA.

Consolidated Atkore Inc.

March 27,

December

September

June 27,

March 28,

December

($ in thousands)

2026

26, 2025

30, 2025

2025

27, 2024

Short-term debt and current maturities of long-term debt

$ 3,730

$ -

Long-term debt

756,911

757,323

756,802

764,387

765,913

765,375

Total debt

760,641

761,053

760,532

764,387

765,913

765,375

Less cash and cash equivalents

442,336

443,771

506,699

331,017

$ 330,385

310,444

Net debt

$ 318,305

$ 317,282

$ 253,833

$ 433,370

$ 435,528

$ 454,931

TTM Adjusted EBITDA (a)

$ 321,035

$ 356,390

$ 386,356

$ 455,629

$ 561,833

$ 657,338

Total debt/TTM Adjusted EBITDA

2.4

2.1

2.0

1.7

1.4

1.2

Net debt/TTM Adjusted EBITDA

1.0

0.9

0.7

1.0

0.8

0.7

(a) Leverage ratio and TTM Adjusted EBITDA reconciliations for all periods above can be found either in the appendix, or in Exhibit 99.1 to Form 8-K filed on February 3, 2026, November 26, 2025, August 5, 2025, May 6, 2025, February 4, 2025.

Consolidated Atkore Inc.

(in thousands)

Six months ended

March 27,

2026

March 28,

2025

Net cash provided by operating activities

$ (27,231)

$ 160,941

Capital expenditures

(26,226)

(63,635)

Free Cash Flow

$ (53,457) $

97,306

Abbreviation

Description

First Half

Second Half

ABS

Atkore Business System

Adj.

Adjusted

Billion

Capex

Capital Expenditures

Calendar Year

DD%

Double Digit Percentage

EBITDA

Earnings Before Interest, Taxes, Depreciation, & Amortization

EPD

Environmental Product Declaration

EPS

Earnings Per Share

ESG

Environment, Social, and Governance

Est.

Estimated

Excl.

Excluding

FX or F/X

Foreign Exchange

Fiscal Year

HDPE

High Density Polyethylene

HSD%

High Single Digit Percentage

IRA

Inflation Reduction Act

Thousand

Abbreviation

Description

LDD%

Low Double Digit Percentage

LSD%

Low Single Digit Percentage

Million

M&A

Mergers & Acquisitions

MSD%

Mid Single Digit Percentage

N/A

Not Applicable

PVC

Polyvinyl Chloride

First Fiscal Quarter

Second Fiscal Quarter

Third Fiscal Quarter

Fourth Fiscal Quarter

RSC

Regional Service Center

S&I

Safety & Infrastructure

TTM

Trailing Twelve Months

United Kingdom

U.S.

United States of America

USD

United States Dollar

Number of Times

Year End

YTD

Year to Date

atkore.com

Disclaimer

Atkore Inc. published this content on May 05, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 05, 2026 at 10:11 UTC.