Atkore Inc.

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 your question, again press star one. As a reminder, this conference is being recorded. Thank you. I would now like to turn the conference over to your host, Matt Klein, 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, John Deitzer, Chief Financial Officer, and John Pergenzer, Chief Operating Officer and President of Electrical. We will take questions at the conclusion of the call. I would like to remind everyone that during this call, we may make projections or forward-looking statements regarding future events or from 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 releases, 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. Reconciliation of non-GAAP measures and a 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.

Thanks, Matt, and good morning to everyone. Thank you for joining us today for our fiscal 2025 third quarter earnings call. Before I address our third quarter results, I want the announcement made earlier today. I've informed the board of my decision to retire from ACOR. After much reflection, I know that now is the time to start a new phase of my life with my family. I've had the privilege of spending 12 years with ACOR, including seven as CEO as part of a 40-year career. I'm proud of all the accomplishments the team has achieved. Although the work is never fully complete, it is time for the board to engage their succession planning process. The board supports me in this decision. I am focused on a seamless transition and plan to lead ACOR in my current role until a successor is appointed. Our strength as a company has always come from our strategy, process, and most importantly, our people. And that will not change. Our ACOR business system is about the team. And I have the utmost confidence in what our teams can achieve going forward. While we are making this announcement today, I am committed as ever to our strategy, our nearly 5,600 employees, and our shareholders until the next CEO is appointed. With that, I'll turn to our third quarter results starting on slide three. We delivered strong performance in the quarter, achieving net sales, adjusted EBITDA, and adjusted EPS toward the top end of the ranges we presented in May. Our net sales of $735 million included 2% organic volume growth. Beyond our volume growth, results were supported by continued productivity gains. Particularly in our S&I segment. -over-year declines in average selling prices were in line with our expectations. And we are pleased to see a second consecutive quarter of sequential pricing improvement in our steel conduit products. As we started our third quarter this past April, we were just beginning to operate in a new tariff environment. Over the last 90 days, the environment has continued to evolve with multiple modifications to initial tariffs and the introduction of new ones. Notably, imported steel conduit and PVC conduit volumes have both declined -over-year in the third quarter compared to the prior year. As we started the third quarter, the Dodge Momentum Index indicated a slowdown in planning activity across several non-residential categories.