Atkore Inc.

Good morning. My name is Brent and I will be your conference operator today. At this time, I would like to welcome everyone to ATCOR's second 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'd like to ask, telephone keypad. If you'd like to withdraw your question, again, press star 1. 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.

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 announce that the Commission delivered outstanding performance and strong results in the second quarter of 2022. Despite continued challenges across the macro environment, we increased sales and profitability. Our businesses are performing well, and we continue to execute our plans for capital employment. During the quarter, we repurchased $157 million in stock and continue to invest in our business for the future. Given the outstanding performance and results in the first half of the year, we've increased the size of our share repurchase authorization from $400 million to $800 million, and we are increasing our expectations for fiscal year 2022. Turning to slide four, we are increasing our outlook for full-year adjusted EBITDA to a range of $1.25 billion to $1.3 billion. This is up $375 million from our previous expectation as we continue to expect profitability levels and our PVC-related products in other parts of the business to remain strong. We are also now planning to repurchase at least $400 million in stock this year. With our increased expectations for FY22, we also thought it would be helpful to provide some preliminary perspective on FY23. Our initial expectations for adjusted EBITDA in FY23 are in the range of $800 to $900 million. There are many variables and market conditions that could cause this range to fluctuate, but we believe this is a good estimate for next year. With that, I'll turn the call to David to discuss the quarter.