Atkore Inc.

Good morning. My name is Rain, and I will be your conference operator today. At this time, I would like to welcome everyone to ADCOR's first quarter fiscal year 2022 earnings conference call. All lines have been placed in a listen-only mode. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw a question, press the county. As a reminder, this conference call is being recorded. Thank you. I would now like to turn the conference over to your host, John Deitzer, Vice President of Treasury and Investment Relations. Thank you. You may begin.

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

Thanks, John, and good morning, everyone. Starting on slide three, I'm pleased to report that Accor again delivered outstanding performance and record results in the first quarter. Despite continued challenges across the entire value chain and macroeconomic environment, we increased sales and profitability in the quarter. Our businesses are performing well, and we continue to execute our plans for capital deployment. During the quarter, we completed two acquisitions, one in the U.S. and one in Canada that I'll speak about in a moment, and we returned $105 million to shareholders via share repurchases. Given the outstanding performance and results in Q1, we are also increasing our expectations for adjusted EBITDA and adjusted EPS in fiscal 2022. Turning to slide four, we are increasing our expectations for adjusted EBITDA to a range of $875 to $925 million. This is up $225 million from our previous expectation as we continue to expect profitability levels in our PVC-related products and other parts of the business to remain strong in fiscal 2022. This now puts us in line with our outstanding FY21 performance. Given our robust cash position, we are now planning to repurchase at least $200 million in stock this year. We are committed to prudently using our capital to deliver value to our shareholders and plan to spend at least $1 billion over the next several years on capital expenditures, share repurchases, and M&A. With that, I'd like to turn to slide five and discuss our two most recent acquisitions. In December, we acquired Sasko Tubes and Roll Farming in Canada and Four Star Industries in South Carolina. Both of these acquisitions will increase our capabilities and help us better serve our customers. I'd like to welcome the employees from both companies, and we are very excited to have each of you become part of Accor. SASCO is a well-regarded brand in the industry, having been in operation for over 60 years. This acquisition complements Accor's existing product portfolio and enables us to provide a broader range of solutions for our customers in the U.S. and Canada. Four Star Industries is another strong performing company and increases our capabilities in the HDPE conduit space. We are very excited about adding this brand to our portfolio, and we expect this category to grow over the next several years with the recent infrastructure legislation and focus on expanding broadband internet access. HDP conduit is often the product of choice to protect power and data cables, and we believe Four Star will provide Accor with a great platform to grow in this market. At Accor, we are constantly looking forward, and while we are very pleased with our recent performance, we're even more excited about what's to come for the rest of the year and beyond. As we look to the future, we are committed to growing sustainably, and I'll give a brief update on some of our activities in that area at the end of today's call. As I mentioned before, all the success takes the whole team, and we are thankful for the hard work and dedication from our entire organization and grateful for everything they do to support our customers. With that, I'll turn the call over to David to discuss the quarter.