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Atkore Inc.
2/4/2020
Greetings. Welcome to the Accor International First Quarter Earnings Conference Call. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, John Deitzer, Vice President of Investor Relations. Thank you, sir. You may now begin.
Thank you, and good morning, everyone. With me today are Bill Waltz, President and CEO, as well as David Johnson, Chief Financial Officer. 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 risk 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. With that, I'll turn it over to Bill.
Thanks, John, and good morning, everyone. I'm pleased to report that ACOR is off to a great start for the year. For the first quarter, we are continuing to build upon the momentum and strong operational performance that we drove in 2019. Let me begin with a few highlights and David will go over the quarter and segment results in more detail. In the first quarter, we increased adjusted EBITDA by 11% driven by solid volume growth in both segments. We grew adjusted EPS by 27% and drove our net debt to EBITDA position down to 2.1 times. The solid financial results in the quarter are an output from the hard work and dedication of all our PACCOR employees. Our team continues to focus on taking care of our customers and delivering value for our stockholders. As a result of this focus and consistent execution from the team, we're excited to increase our outlook for the year for adjusted EBITDA and adjusted EPS. We anticipate full year 2020 adjusted EBITDA to be between $340 to $350 million, and adjusted EPS to be between $3.95 and $4.05. With that, I'll turn the call over to David, who will walk us through our financials for the first quarter in more detail.
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