Atkore Inc. (NYSE:ATKR) Q4 2023 Earnings Call Transcript

Chris Moore: Got it. I appreciate that. And on the HDPE side, obviously, lots of talk about the telecom softness from multiple avenues. Beyond that, in terms of the end markets you’re seeing, kind of some thoughts there perhaps?

Bill Waltz: I think they’re good. I mean, it was good with the following things. I would say low-single-digit growth in general, not now us as a manufacturer, in fact, that’s the end market, like what is being installed? From there, we won’t have some of the de-stocking that occurred earlier in our fiscal year. So, therefore, that will help Atkore. As you kind of almost did my own CEO bridge, so to speak, to go, how do you go from low-single-digit to double-digit — low-double-digit growth. You have that headwind of last year going away, so that’s going to help. And then, as David and I mentioned, every investor should understand, but you won’t see if you just looked at square feet or some other metric. Is the electrification — I think every one of our peers, no matter where you are in the electrical industry, this is going to be the best decade ever with just everything from [PGD] (ph), I think just yesterday in the Wall Street Journal, we announced a thousand miles or some number around there of varying electrical cables, the grid hardening in general, the BEAD act when it comes.

There’s just so many different things to go. The intensity of a data center for the matter of electrical products that we will put into that would be more than what a hotel would cost to put up, period. I mean, so like when you win one of these jobs, it’s intense. So I think it’s, at our conduits of growth, self-help, on a really good just secular trends tailwind that we have that kind of bridges us from the markets of low-single-digit to Atkore we’re aspiring to be low-double-digit growth this year.

Chris Moore: Got it. Very helpful. I’ll leave it there. Thanks, guys.

Bill Waltz: Thank you, Chris.

David Johnson: Thank you, Chris.

Operator: This concludes the question-and-answer session. I would now like to turn the call back over to Bill Waltz for closing remarks.

Bill Waltz: Before we conclude, let me summarize my three key takeaways from today’s discussion. First, fiscal 2023 was a very good year for Atkore. Second, we are well positioned to build on our positive business momentum and have a strong outlook for fiscal year 2024. Third, our strategy will drive further value creation into the future as we continue to execute on our growth opportunities and deliver on our updated capital deployment model. With that, thank you for your support and interest in our company, and we look forward to speaking with you during our next quarterly call. This concludes the call for today.

Operator: This concludes today’s conference call. Thank you for your participation, and you may now disconnect.