ATKR - Earnings call transcript Q3 2018

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Operator

Greetings and welcome to the Atkore International Fiscal Third Quarter 2018 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to Keith Whisenand, Vice President, Investor Relations. Please go ahead.

Keith Whisenand

Thank you, and good morning, everyone. John and and Officer. Jim are Chief Bill today Officer; Operating Mallak, me Williamson, CEO; President Waltz, With Chief Financial would forward-looking everyone may remind of the or like this performance I we call future that financial make regarding statements during or company. future events projections to results statements Such actual risks materially. uncertainties and differ involve that such may or to refer forward-looking in that could factors to identify which important contained our Please those actual statements. XX-Q differ results release, our from and projections today's press materially cause

when year we’re information period. John. or the turn Finally, runs year referring to relating which through the fiscal year, a October we to I'll during it are September. is over a quarter fiscal that, a Any corresponding referring to a reference to call, full this to With

John Williamson

At $XX good of earnings net and delivered Atkore a and execution. through last versus of strong sales per performance and of Keith, up morning, year. EBITDA third million, focused adjusted delivered XX%, quarter Thanks, XX% $X.XX, XX%, We respectively share adjusted $XXX million, everyone.

we delivered year-over-year customer due industrial strengthening traction addition, and volume organic continued the key verticals to of growth initiatives. X% In

the of During freight to and through market. the all the inflation quarter, passed we commodity

first solid three Based XXXX year-to-date this in XXXX. made expect of be to XX% in recent XXXX. and the experience XXXX mentioned of we’re critical capability, higher around XXXX the in dollars track XXX% we PVC cost quarters for allowed the As publicized inflation freight increase to environment total steel, on the you we’ve and perspective on highlights that would forecast our results normally share least than and give the than contributed deal more guidance, we progress all available, to at few of give the last be pass-through an we we will we copper, of us inflation to key created a Jim our pass-through quarter, quicker through that latest did details I pass-through successfully than on of nature that performance. to new and in first the able quarters financial will you Bill but will most to inflation walk

Electrical the our last and EBITDA, net as raw months higher to net as and our adjusted in due primarily increases to double-digit completed sales segment in acquisitions freight First, successful XX impacted the favorably market. the sales delivered of pass-through Raceway the material costs well by being

of the pricing Our curves input year-to-date. ahead activities now are cost

Products delivered volumes XX% increase Second, and from the segment higher prices. and average an selling Solutions of Mechanical net sales in

the quarter, with up is trend due that decreased adjusted $XX million pricing prices. go up in the increase to expect business EBITDA curve cost However, inflation and our selling in we to this Even starting continue. to to momentum the inflation exceeding in to though average continues catch

Atkore value to initiatives to organization. have continue been incremental M&A our well of impact and accretive creation the Acquisitions and EBITDA have the across big favorably as our the completed contributed part and as a driven Third, synergies results. over have enhancements be will continue last portfolio Acquisitions story. year margins

successful EPS Additionally, executed input to growth quarter. revenue We million results. and retirement strong, and stock double EBITDA and material the diligence Overall, cost raw by of during shares. the adjusted was subsequent repurchase exceeded maintain driven year-over-year sales, Net pass-through delivered solid Organic quarter our for quarter, a the markets. customers. the Atkore of the guidance are up increased another digits of Atkore industrial X.X around

and capital acquisitions we our shares. integrate deployed successfully to to repurchase continued We

and of our our and insights XXXX. near to call Our provide remain turn system through over more walk into Jim, provided the discipline I'll we the have commitment that, on will we who detail goals end the us team, to With culture the business our additional and deliver as quarter. financials focused in

James Mallak

and John, to everyone. good Thanks, morning

on volume acquisitions sequentially was of than increasing Acquisitions increases after was impact Moving added the $XXX initiatives. material is impacted the up X% XX% quarter and MP&S X X, up net a and as sales row Net quarter Raceway and freight to prices from foreign sales well up line million, X% strong the for cost the year-to-date. industrial volume mix organic excluding double-digit exchange. delivered average quarter and for organically and selling growth. environment year-over-year. through our were Electrical The results normalizing favorably XX% of Volume of Slides third MP&S by XX% in for reflecting passing growth consolidated our was XX% organic more stable and second to top year-to-date. volume up acquisitions and as net

In the versus the Looking XXXX our XX% up quarter, PVC, X% our quarter costs the up flat third P&L steel of the XX% the up about sequentially. material XX% of up X% was in was of XXXX on and sequentially. at sequentially. and up quarter was versus quarter resin and impacts versus third key of Copper third XXXX,

quarter, million. X. incremental the mix and year-over-year, pricing $XX EBITDA cost of Through material freight During other increases and items on the inflation adjusted we bridge successfully broken on initiatives, we those million. cost prices million of and $XX out increased input incurred Slide We've approximately $X

equal up cost our or driven million we quarter, and XXXX, mix for $XX million was increased volume the previously, compared EBITDA to percentages. third margin in or and we versus up these XX% in period of versus million million cost. XX% As year. Adjusted the same was price sold impacting primarily last by unfavorably net $XX $XX when mentioned sales and costs customers $XXX pass the to in amounts Gross goods through resulting profit price, have

million organic the added differences. of completed and were XX months account increases business to EBITDA net the productivity $X These by within for Our last investments million. activity $X partially in and M&A our variable and offset increase adjusted the volume compensation

third versus on quarter quarter income of the XXXX. million XXXX. was net of basis up $XX third $X.XX, the was $X Our Adjusted million, a EPS XX% from GAAP up

Raceway the all months sales our or increased Slide acquisitions of to X, net reported $X our net which $XX by million million up impact are Electrical $XX cost XX% average to $XX EBITDA Raceway, increased sales mix Higher XX Moving adjusted or completed execution, year. about XXX strong a compared segment, $X XX% by selling margins half, million and When million, $XXX account or to improvement. increase. last segment by favorable on prices our in The Electrical million. EBITDA and with EBITDA increased favorable to in so basis increases through flat quarter margin our about million, expectations. the $XX the of down Adjusted combined about with in million were volumes quarter. were last about or line to XX%.Organic year-to-date in first The and the had was of the mix revenue volumes X% driven up with by pricing $XX million the of Adjusted customers products XX%. in points for acquisition passing driving acquisitions accretive

Adjusted sprinkler by is the revenue the year, quarter decreased of $X million compared industrial strength, segment to XXX index-based business basis the of almost EBITDA of in quarter versus quarter Moving by we timing as and to due the versus X%. million business, below million. traction, passing Slide or our the on volume is Solutions latest the all by by in and with flexible units XX% lagging points, were customers $XXX by which divestiture commodity price of flexible the X% OEM XXXX headwinds increased driven about sales the pricing margin net cost Products our in up impacted our reduced last Mechanical of offset the EBITDA X, on Volumes added by the $XX sprinkler primarily business strong this continued divestiture our third the & business to quarter price million show markets net headwinds increases XX% Adjusted through $XX under in sales pricing. to the partially to strategic cost segment. last to to see by

acceleration that curve versus the half did the flattens. traction quarter the pricing continue and the as cost in in a significant we However, to expect first our of year see

cash balance balance cash the Slide sheet of Turning X, on to cash and flow the our end quarter and million. $XXX equivalents at of the was

Net total $XXX at for this million, the million time. was nine year-to-date. year last a from double spent months flow about operating of first $XX activities have in CapEx We cash

our debt to Finally, net was X.Xx. of net trailing the as debt $XXX leverage ratio, month million define we which XX EBITDA adjusted in

direction. move range As to low we've that communicated goal moving in the past, this our long-term the metric to in back and we're is back Xx

for the turn to will I call Bill guidance our over Now update.

William Waltz

Jim. Thanks,

earnings Moving X, activity, Slide full-year guidance. to with and are confidence our quarter guidance the increasing another market on in we strong our

be will in as single-digit these updating expect range. industrial expect up volume for strong to continue into to adjusted low segment, low to we Taking to the After up million Electrical our range our the the volumes and $XXX XX%. XXXX are full-year be another the follows: $XXX EBITDA construction range in factors, be quarter, now increasing markets guidance we in We up single-digit about between million. Raceway expect in we're our be consideration and markets

XX segment, between million. expected volume guidance and MP&S we're million are fully be our $XX share million to be now we For increasing estimate to million. million XXXX diluted expense our to up million our shares. $X.XX adjusted will be and count between In EPS be EBITDA $X.XX. We our we're $XX $XXX increasing between be total, be to adjusted adjusted expecting our and $XX will Interest XX% $XXX and approximately EBITDA and

$XX for to be is back will be about now the year. full-year QX. million expected for final rate for XX% XX% for the comments. to tax CapEx John, about you Our and

John Williamson

success organic In growth well performance business All acquisitions Bill. third as to is completed successful efficiencies costs better earnings This due during our models, gained right. of net with our share. increased Atkore's to initiatives. growth raw quarter customer industrial per sales, and performing based proud than EBITDA from Thanks, verticals, as productivity material the pass-through adjusted on strengthening double-digit in the strong summary, report I’m

confident I’d value. capabilities of momentum to future. its to pleased in been Atkore. I’m part Atkore's I've operator, for been team It's pleased of to many ability and Atkore's delivered I’ve of As call time, to place last for team, upon Atkore, investment delivering ourselves, our for of in business to We customers ever-changing and the results. are to before, forward thank community look true. the that, recognizing is continue future and open shareholders. more Atkore's in like system questions. and foundation support their said that core the our are put culture, I’m strong. our also Since to for excited interest about have With successes. to this fundamentals an environment I you lines never earnings my the our hearing see manage these our is business our this at and the commitments want our true

Operator

Thank you. you. [Operator Instructions] Thank

is question first of with the Our line Citi question. Kaplowitz Bank. with proceed Please your Andrew coming from

Andrew Kaplowitz

Hey, good John, morning, guys. luck. good Nice quarter.

John Williamson

thank Yes, you.

Andrew Kaplowitz

you Electrical obviously, It just, the focused strong did quarter, to in Can this lags about improvement terms MP&S on XX% Raceway. forward? the visibility of So result. stay environment, sustainable is on incremental -- we moving talk Raceway, how then strong margins talk maybe is pricing in ahead. in focusing about you your ability like of the looks know which in the a margin into And performance kind

we is reason can't catch as that there get So segment into any FYXX? why up

John Williamson

a feel get high Jim drive quarter hit as Bill. some the We confident will a business we you’re I Yes, quarter, in at different from to to our going ability input to continue and and level get have. pass-through. the to from Obviously, pretty

lag may little changeover we well quarter next that a bit in and MP&S will in and bit. a little Raceway This pass-through quarter

Atkore month-to-month, the always the the period, time -- customers the to fluctuation the But results, day, every there's what and foundation mix how a the all about quarter-to-quarter. feel to better So confident first how our new worse business And about delivering we not we product of that's are pretty into manufacture system at it's in our large that a day, or processes. base getting delivering that it's these products in that about capabilities at getting It's new share it. products on just it into lot on keep growth we we're a getting a on, put the whether price, customers improving we and those how based we make -- market how particular sustainable meeting we and integrate processes about customers' improve using information decision, needs. our our we business more of We given work need. we're of or continually around mind

a and these little material feel bit. and costs ability continue timing we about freight So caveat strong raw of that the our to of pass-through results ebb with can flow the with

William Waltz

Yes, point. emphasize I couple will just very much, of Andrew, John's

down always commodity helped Atkore, all and a a of fluctuation Diving hallmark our period. faster lag, have bit Raceway little even the continue Andrew, keep now get So we we is the that time quarter, price that quarter. the information last side, to up on then that to And obviously, expect price. there. within there some There's over tweets public pass-through costs, us in this for but mechanical,

think contracts. we we’re business can with system But pricing margin and I on realize the index John Atkore how you with improve going forward. mentioned focused the as

Andrew Kaplowitz

John I -- shift you Obviously, quarter. wonder Raceway you EBITDA ask gears a about and good volume. had

from you as think you there? looked I if about demand Any sort we all you push for talk talk you all all. year. growth higher FYXX Raceway you’re quarter, said seeing low seeing could do look single-digits pricing initiatives last maybe give underlying to now, down us? how volume -- as the you are of at mid color I at you getting last moment? at much to this slowing at think maybe you at at the markets, And issue or quarter are could the getting, about you If Are guidance with low what single-digits, nonres the Is

John Williamson

Yes.

different bit let pretty framed activity -- underlying -- I that but So, about and mean, that will in do than the being volume kind we see competitors a well, It's a construction in our do Raceway I be going Andy. in Bill you bit as do the volume Keep way its sees little and way he activity what the of talk XXXX business little feet. forward, we We mind there the out might favorable. that volume. our

very if that the -- especially usually one weight a really to market, market a shift mix light and there's value and So the a in the off or thing a is, in low products from point add, trade out commoditized away cheap will if I there's a feet. higher cable there's copper

add could be in some letting sales, terms you strategically footage better be serve you go in footage much doing you and be could it of can as and much will value because of better So it's off volume. dollars, giving -- terms

a getting example an But rigid thing of we see in bit So for in little markets. heavier the higher that conduit might trading actually share actually the same we where just even of be difference if pipe, be cable that’s and feet pounds some -- or we’re a steel heavier footage. our conduit as can of off

So we're doing less of the lightweight conduit and more of the heavyweight.

to mind, an true, we've in way by a it. effect it do very way numbers So give keep it. we will feet. our you It's have meaningful number but we and done that the good a are and on consistent always It's do that. It's mix

underlying seeing might there some low add, think based though strong. to value some of business That I -- on we're as be giving you is be in highlights So footage. mix the you terms actually activity go what would There single-digit are impact off is higher is now.

William Waltz

given frankly of add, indicators just Dodge, focused whether yet, we on Andrew, low and single-digit as customer, I the it's voice year. that of haven't continuation all fiscal XXXX, but next just from numbers of our guidance the really we think we into or go ABI, Yes, quite see to

Andrew Kaplowitz

Congratulations and good guys. luck

William Waltz

Thanks.

John Williamson

Thanks, Andrew.

Operator

Deane comes your line of Capital Please question from Markets. proceed next questions. with The Dray with the RBC

Deane Dray

everyone. morning, Good you. Thank

John Williamson

Deane. morning, Good

William Waltz

Deane. morning, Good

Deane Dray

not color here, the your sure could but quarter. all expectations in maybe Appreciate you on actions there's on just about And if the change impacts. comment the tariffs just pricing current I’m any

John Williamson

Yes, yes.

product. and making we consistently. we On said we on level fundamentally day-to-day where We product tariffs, sell. six basis, where basically we're operate sell manufacture this countries a we high the So, in very

types business day-to-day to their our though Basically a have So tariffs neutral. down could tend now us. everybody tariffs to and float will customers longer our driving affect extent are to general period hurt And extent solutions, of out driving on obviously be that our the to their and the a tariffs to impact it And then side. or either volume the the are over else's customers more different would or slightly that economy prospects, same an in -- we hurting we'd that the negative on play does. boat on time that

tariffs as generally impact be from we quickly, such a take the it's away pretty I might moves So could timing if very of it us. neutral There steel same is, in up not recover think, all commodity to across has, our businesses all timing. the

quicker through up through. it on quickly, little conduit to So very within we're goes pass MP&S. in steel a than takes seeing business pass our that that Steel it MP&S longer we

then to timing about some businesses. what neutral there's customers Atkore are to on do net, the our does and day-to-day, impact, tariffs we worry it So but

William Waltz

I unless Yes, has follow-up. don't, any he

Deane Dray

it. Jim do be a on the then an catch-up thought I timing, just you say mechanical the cost heard have that can that guys And And And cost when Got there you share us? curve in crystal I a lag of flattens. ball about the flattening? would curve with regarding terms is expectation

John Williamson

-- bit but yes, everybody. we’re it's same in we a crystal as little Well, ball, cloudy boat the

you If at over there in time, summer late flattening and the is usually steel a look fall.

is, bit we so see shape MP&S. something that seen. to expect adjustment to lines a up is be of a allow along seasonal or profound little that will some But that there's we’d And new those will how size us would and say on coming that it catch remain up how onset we

Deane Dray

nice go this just I a want the And is, say, bang first last and with it. all best, John, big you all, to you it's out quarter. point to Got wish of see

with CEO? named Chairman? to expect your focus working So bit high-level And Schrock, share share a about with on priorities for Mike us as with is just could that. maybe who then then you Bill, congrats experience new prior the you And us what on a of at

William Waltz

Thanks, cool. Okay, Deane.

much leadership priorities, path For it's down that John, the and myself, seven the years. rest team of has very continue Jim the over set the

business focused fundamental. consistent Atkore values on theme the our people So system of the are process strategy,

on the leadership that’s can much focus experience specific markets. system worked Atkore our I Mike the the specific to we sure and very on nVent. There same as culture outwork how From I again, also, off that and at XX% policy XX, Pentair and Mike with other only think thanks we as at have employees. think he deployment. on had growing electrical that with we on not same fits as thing more an So Schrock, all probably but XX we very electrical Deane, talent. with the of as and growth being of though both is our he to above initiatives, focused time an very brings focused very obviously, the as on focused the very that time are make for but a foundation, PIM system additional now good business Pentair people. and the Mike products customers Atkore, of even The more the and will be head with the contractor spend I is growing segments pricing, focus Atkore an value adds individual Atkore, much with part target years. Mike They're over team and But the wasn't nice talent much then externally

board forward. going and of have overall know the that unique I as to his the excited So we're Chairman skills set

Deane Dray

Thank you.

Operator

of Kwas Instructions] proceed Fargo. Wells Rich you. Thank from Our with is [Operator with coming Please questions. the line your next question

Deepa Raghavan

John Good luck. Deepa tenure Raghavan good and Kwas. is your Rich morning. Congratulations, This for on

than and have timeline? realization about are please from versus made the are acquisition of me. you synergy in we’d we synergy be? on come. couple you questions to in how where Could talk I’m Raceway. that you synergies expected. cost in are synergies You So just point these the long harping this can synergies better at much timeline? Where acquisitions The Electrical a revenue time, on three cost are still assuming yet And revenue tail

John Williamson

many the call now might or a Atkore in a help savings, where cost are, a much Deepa, the portfolio. and is into really -- making X pretty doing of lot bit driver initiatives but commercial but natural history the focused to to we on we’ve acquisitions, for do that and The I the they effort has been year, little of over a the those lead been managing killing and of who put they Atkore business side. It's achieve made the getting factor that finally we part and and cost what so cases of you think acquisitions know, would last giving general, Yes, we synergies say, are is something the commercially. what bought Waltz each here, part performing funding businesses can question better. thank businesses sure driving. you've short of right to the been very them growth these between business out. they portfolio Atkore little of answer well commercial into have Yes. our be commercial you that. on wishes. they ripping we not big also of companies our in a are are we’re integration, It's bit Bill the on without We the letting at by that would we in and synergies this, integrate I our It

opportunities. robust more a little probably global nature pipeline the the have very than we’ve heavily bit slate a pipeline a of We very Raceway. see continue to is good weighted And but accretive past, maybe towards in strong of a

you’ve any synergies drive to in we fits us of they're something well things investment that? early cost knows, think in the things focus through know, some acquisitions. or we the from the ilk do doing have us the Bill if be control everyone same with that fiscal would you in and in not Commercial as Atkore, As Jim, additions don't the got we're really what we to year, with the go fiscal the commercially, have to process. timing past. that of can year, seen and which next there's accelerate close. market. you potential bring process Certainly Yes, in to We

James Mallak

No.

William Waltz

me. for not No,

it you think I covered well.

I think summary. a that’s good

Deepa Raghavan

before, strength, I quarter? looks us give in this in the Okay. the color My should some Raceway can And follow-up vertical asked versus commercial quarter least mean, have for strength the is institutional curious, segment. been if versus was on -- favorable weather question just nonresidential at industrial you like

John Williamson

start will there. I Yes.

our on year where single the there we're and and some execution seeing that. think the what a like the six overall -- months, I average. we’ve get of our projects by largest is couple is everything for guidance again, education, we’re pretty areas up actually light our strength with comfortable -- I in when with with until offices towards are the segments And low is digits. of start But higher single-digit going year track is in above we think that the been some but on business focused

Deepa Raghavan

is Got My final on question margin MP&S recovery. you.

a going about -- it's do how we probably dynamics on. if be think back incremental at we I’m to to comes you. equation So half I margins more really to the And once yet Is cost segment to that But negative, next mean be that that current cost cost? turn and price over prices 'XX that going it's around probably to be here, what should price positive, to starting when mean, negative mean, normal? for Thank to it like quarter improve trying were price stay to phenomenon? steel cadence at from be rates, when we like is expect price positive? looks I I second do get

James Mallak

here. Jim Deepa,

go a will on mix the when think the through indexing. But take season you verticals, about the -- as it the we lag look, So go a through you as got I change. products of then XX-day different

come we XXXX, into depend and what the take to as does. the going we margins I on its product lot go the as mix start a commodities the of look, a of we So will think seeing back and what

So …

John Williamson

that in synergies Mechanical do it inflation of the pass-through you segment -- initiatives Schulte with the mind, for how getting team and we is a number worst as Mike regards just but focusing great in of his is see we’re us. are It's for But trend & improving that the Solutions on stick kind keep the cost direction Products right really end to business, there's well. commercial of in number driving of a that a and that us.

for us. So good business

right have We going the and very business direction. our positions. It's we operationally that synergistic with leadership like. we a It's business see really Raceway in

things, far guessing that etcetera, the Products a & flattening trend couple for as of timeframe, up that as notwithstanding such is but would out Mechanical on As we're pointing I say Solutions. steel the

Operator

Thank you.

question the UBS. with next is your with from Our line of questions. proceed Please Steve coming Winoker

Steven Winoker

Thanks morning all. and good

John Williamson

Steve. morning, Good

Steven Winoker

cash -- to start wanted start flow maybe just I that with and free let's well, with one.

quarter Just how to to a this you the guys previously, think here, playing XXX puts I about see do you even that out but you from have talked XXX closer for that full-year.

the year? this point through move of the So do number as you see rest at you higher any

James Mallak

normally is $XXX somewhere I think strong, we’ve seeing our fourth been quarter the XXXX. in range $XXX that for very quarter flow million for cash to -- the fourth Yes, so million

Steven Winoker

operating cash CapEx on stable a again, flow just And side, improvement? great. Okay, so mostly

James Mallak

up about CapEx, Correct. We guidance up million. our did to $XX for

some ahead you that projects able why the increase, that's but have pretty were productivity right get pull flow cash into this to that to opportunity so we're year, of type comfortable that We with now. we we're the generating see

Steven Winoker

I And you terms that enveloping work M&A in the or X prior, you’re about given the capacity guess, compared doing of to on Okay, helpful. that that how all XXX, front? that’s to thinking that then, are

James Mallak

M&A? the On

Steven Winoker

M&A. on just Yes, Yes.

here. envelope additional Just from

James Mallak

saw so two to tango those in those, on bring have the ability have to funnel been we’ve that that and that be million. we’re and we robust going Yes, to driving one million are very to pursuing It different to projects targeting we’re different close still to think still working -- are targeted $XXX Obviously, on, $XXX I them. we John takes very we the a closure. active, that mentioned that

Steven Winoker

Okay.

go Sorry ahead.

William Waltz

I If a just as $XXX from to around $XXX intend add, standpoint, strategic Jim to can so John -- million million. we spend do mentioned,

is responsible, from the we funnel strategic, forward. right accretive, a is robust debt And it a it we have bandwidth the go as then have have we criteria time. of management do at do We is it set

or continue our not drive but we're sense do we methodically, rush to make to for So going will acquisitions shareholders that or go doesn't we forward. company, anything as

Steven Winoker

Okay. that? other And more when you you one segment or mentioned leaning towards are the

William Waltz

that Raceway. preference either be John we European towards And footprint. the North probably Yes, expand I as alluded, think our would a America to slight Electrical or that continue there's as

last think in acquisitions you Europe. we If year two did

we're we sense. to parameters great as in like European U.S, opening have acquisitions they consider management kind our We Europe do there in the a team over up of make

Steven Winoker

And versus to the in or footage segment in tie offices, seeing education earlier what I’m underlying by trying on the industrial, some institutional, of just you're square Raceway Electrical construction, etcetera. volume comments

in versus that to any was link footage So of the particular in quarter lightweight the you segments? a just couple that saw growth additional heavy itself,

John Williamson

then preferences how to to some and also think or decisions linked regards I we To bit degree, yes, little we make with and have choices it's we a price.

levels. So low diminished of very price the and on that sake at volume the counterproductive end in for interested chasing not volume we're

impact And measure so volume, an the that footage. the that of terms in on has in especially

Steven Winoker

and congrats All best good and right. That’s all wishes luck. helpful. John,

John Williamson

Thank you very Steve. much,

Operator

Williamson floor this I At John you. for time, Instructions] will remarks. [Operator turn back Thank the to closing

John Williamson

I to want everyone. you things. couple reiterate of Thank Great.

say it. The on. ability have ability take measure environment work quite with I’m of happy with those be counting the can every like us of care customers on it investors to the that single be the I today, capability. and we would that ability came be should and the X,XXX we especially business do First into thank take are you us. would And every Atkore the each believe from of on the the day. we would when day CD&R business, Those taking care count of us on. moved are the Build frankly other the when day a involvement over people business people seven single and done of are years you and and long-term getting pretty capability. all, in to of with the of terms better to that focused most are I'd one gives to the we the do nearly people that what that employees to manage, and handful work. when a There's better number ago Atkore at then business customers, the And Atkore, exposed

look in So, quarter. community the thanks update my to on to the all interest my our and and an the to business end in another thanks forward investment Atkore we getting Thank your employees That’s you. call. of

Operator

concluded. conference you. Thank has Today’s

your You at this you disconnect participation. lines for your time. Thank may

Atkore (ATKR) 7 Aug 182018 Q3 Earnings call transcript