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Like **Hubbell Inc.**, but for a broader range of critical electrical, mechanical, and safety infrastructure components used in construction.

The **Corning Inc.** of building infrastructure, manufacturing the foundational conduits, cables, and structural framing that power and secure modern facilities.

A specialized **3M**, providing essential electrical, safety, and infrastructure components for construction and industrial projects.

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• Electrical Conduits: Products designed to protect and route electrical wiring.
• Electrical Cables: Wires used for transmitting electricity or data.
• Electrical Installation Accessories: Components essential for the proper installation of electrical systems.
• Metal Framing: Structural components used for support systems in various applications.
• Mechanical Pipe: Piping solutions for diverse mechanical and industrial uses.
• Perimeter Security: Products and systems aimed at securing the boundaries of properties and facilities.
• Cable Management: Solutions for organizing, routing, and protecting electrical and data cables.

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Atkore (ATKR) sells primarily to other companies (B2B) rather than directly to individuals. Based on the provided background information, Atkore serves a group of end markets through various types of business customers. While specific major customer company names are not disclosed in the public description, Atkore's direct customers are primarily:

• Electrical contractors
• Industrial contractors
• Mechanical contractors
• Original equipment manufacturers (OEMs)

These customers then utilize Atkore's products in end markets such as new construction; maintenance, repair, and remodel; infrastructure; diversified industrials; alternative power generation; healthcare; data centers; and government.

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Mr. Waltz became a Director and the President and Chief Executive Officer of Atkore Inc. in 2018. Prior to that, he served in several other executive roles within Atkore, including Chief Operating Officer and Group President of Atkore Electrical. From 2009 until joining Atkore in 2013, Mr. Waltz was Chairman and Chief Executive Officer at Strategic Materials, Inc., a glass recycling company. Before that, he spent 15 years in various divisions of Pentair plc, including serving as President-Pentair Flow Technologies. Mr. Waltz began his career at General Electric Company and as a Deloitte management consultant. He also serves as a Director of Quanex Building Products Corporation and a Governor for the National Electrical Manufacturers Association (NEMA).

Mr. Deitzer was promoted to Vice President, Chief Financial Officer in August 2024, after serving as Vice President of Finance – Electrical business unit. He joined Atkore in 2019, initially as Vice President of Investor Relations, and later oversaw Environmental, Social and Governance (ESG) initiatives and Treasury responsibilities. Prior to Atkore, Mr. Deitzer spent four years at Alcoa Corporation in Investor Relations and Management Consulting & Strategy roles. He also gained experience as Segment Manager and Global Account Manager at PPG Industries and held investor relations and corporate strategy roles at H.J. Heinz Company.

Mr. Pregenzer was promoted to Chief Operating Officer in January 2025, while retaining his role as President-Electrical, which he has held since October 2020. He joined Atkore in July 2015 and previously held positions as President for the Conduit & Fittings business unit and Vice President and General Manager of the Plastic Pipe and Conduit strategic business unit. Before joining Atkore, Mr. Pregenzer spent the majority of his career in executive sales, marketing, and operations positions with Georg Fischer AG, a Swiss-based industrial products manufacturer, where his roles included President and Managing Director for Georg Fischer Piping Systems LLC and Georg Fischer Sloane, Inc.

Mr. Kelly joined Atkore in September 2013. For the 20 years prior, he worked in strategic legal officer roles within various businesses of ITT Corporation and Xylem, Inc., which spun off from ITT in 2011. At Xylem, he served as acting General Counsel and also held the role of Deputy General Counsel, Litigation and Contracts. Earlier in his career at ITT, he was Vice President and General Counsel of ITT Fluid and Motion Control and Vice President and General Counsel of ITT Defense Electronics and Services. Mr. Kelly began his career at Sidley & Austin with an antitrust and commercial litigation practice.

Mr. Lamps serves as the President of Safety & Infrastructure at Atkore. He is also listed as Group President-Security & Infrastructure.

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1. Exposure to General Economic Conditions and End-Market Cyclicality: Atkore's financial performance is highly sensitive to broad economic conditions, including recessions, interest rate fluctuations, and credit market conditions. Demand for its products, which serve non-residential and residential construction, diversified industrials, and infrastructure markets, is particularly vulnerable to cyclical downturns in these sectors. Any significant decline in these key end markets, especially non-residential construction, could materially and adversely affect Atkore's business.
2. Raw Material Price Volatility: The company is heavily reliant on key commodities such as copper, steel, polyvinyl chloride (PVC) resin, zinc, and aluminum for its product lines. Fluctuations in the prices of these raw materials can lead to higher input costs, which Atkore may not always be able to pass on to its customers, thereby negatively impacting its profitability and margins.
3. Legal, Regulatory, and Trade Policy Risks: Atkore faces potential risks from ongoing legal proceedings and antitrust investigations, specifically a grand jury subpoena from the Department of Justice concerning the pricing of PVC pipe and conduit products. Additionally, the company is exposed to increased competition from foreign imports, particularly from Mexico, and the potential imposition of trade tariffs, which could affect its market competitiveness and demand for its domestically produced products.

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Atkore Inc. (ATKR) operates within several significant addressable markets for its electrical, safety, and infrastructure products.

Electrical Products

• Electrical Conduits: The global electrical conduit market was valued at approximately USD 11 billion in 2024 and is estimated to reach USD 22 billion by 2034, growing at a CAGR of 6.9% from 2025 to 2034. In the U.S., the electrical conduit market was valued at USD 1.87 billion in 2024 and is expected to reach USD 3.89 billion by 2033, with a CAGR of 8.5% from 2025 to 2033.
• Wires and Cables: The global wire and cable market was valued at USD 267.8 billion in 2024 and is projected to grow at a CAGR of 7.3% from 2025 to 2034. The U.S. wires and cables market size was valued at USD 31.93 billion in 2024 and is expected to reach USD 44.54 billion by 2030, growing at a CAGR of 5.9% from 2025.

Safety and Infrastructure Solutions

• Metal Framing (Steel Framing): The global steel framing market was valued at USD 35.03 billion in 2023 and is anticipated to exceed USD 58.12 billion by 2033, growing at a CAGR of 5.19% from 2023 to 2033. The U.S. steel framing market size was USD 24.6 billion in 2024 and is expected to reach USD 35.7 billion by 2032, with a CAGR of 4.9% during 2025–2032.
• Mechanical Pipe and Pipe Fittings: The global piping and fittings market size was approximately USD 345.13 billion in 2024 and is predicted to surpass USD 493.97 billion by 2034, exhibiting a CAGR of 3.65% from 2025 to 2034. Specifically for pipe fittings, the global market is estimated to be valued at USD 88.10 billion in 2025 and is expected to reach USD 132.92 billion by 2032, exhibiting a CAGR of 6.1% from 2025 to 2032. The U.S. mechanical tube & pipe market was valued at USD 2.44 billion in 2023 and is projected to grow from USD 2.49 billion in 2024 to USD 2.99 billion by 2032, with a CAGR of 2.3%.
• Perimeter Security: The global perimeter security market size was valued at USD 82.36 billion in 2025 and is set to exceed USD 189.68 billion by 2035, expanding at over 8.7% CAGR during the forecast period of 2026-2035. North America is predicted to hold 42% of the market share by 2035.
• Cable Management: The global cable management market size was valued at USD 20.9 billion in 2024 and is estimated to reach USD 44.3 billion by 2034, registering a CAGR of 8.1% from 2025 to 2034. Another estimate places the global cable management market at USD 27.6 billion in 2023, projected to reach USD 64.7 billion by 2032, growing at a CAGR of 10% from 2024 to 2032. The U.S. cable management system market dominated the regional industry in 2024.

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Atkore Inc. (ATKR) is poised for revenue growth over the next 2-3 years, driven by several strategic initiatives and favorable market trends.

Here are 3-5 expected drivers of future revenue growth for Atkore:

1. Expansion into High-Growth End Markets: Atkore is strategically expanding its presence in burgeoning sectors such as data centers, renewable energy (particularly solar), and broadband/telecommunications. The company is actively scaling its High-Density Polyethylene (HDPE) conduit and solar mounting solutions to meet demand in broadband and utility-scale solar markets. Furthermore, manufacturing capacity is being increased in the Western U.S. and Mexico to cater to the growing demand from data centers and solar farms. Data centers, healthcare, manufacturing, and multi-family housing are anticipated to drive mid-single-digit growth, with the solar business expected to continue performing well and growing into 2026 and 2027. The demand for data centers, especially those supporting artificial intelligence, is a significant tailwind, requiring Atkore's electrical infrastructure products. The municipal water segment is also ramping up and presents potential for substantial growth from a smaller base.
2. Strategic Acquisitions and Portfolio Optimization: Atkore's growth strategy for 2025 includes a focus on strategic acquisitions that can enhance technical capabilities or fill geographic gaps in North America. The company is also undergoing a strategic review, exploring divestitures of non-core assets, such as its HDPE pipe and conduit business that primarily serves the telecommunications sector, to concentrate on its core electrical infrastructure portfolio. These divestitures of underperforming businesses are expected to improve margins and return on invested capital.
3. Leveraging Infrastructure Spending and Electrification Trends: Atkore's initiatives are designed to capitalize on broader digitalization and electrification trends. Government support for infrastructure development, including the bipartisan Infrastructure Law, is expected to be a significant driver of growth, particularly for electrical solutions. The company anticipates low to mid-single-digit volume growth for fiscal year 2025, linked to market expectations and the contributions from these growth initiatives.
4. Productivity Gains and Operational Efficiency: Atkore is committed to cost reduction, evidenced by plans to consolidate three manufacturing facilities by 2026. Productivity gains have played a role in offsetting pricing pressures. The company's technology roadmap supports growth through the integration of digital tools, automation, and sustainable product development, aiming for operational savings and new revenue streams. Improved operational performance within its Safety & Infrastructure (S&I) segment and facilities like Hobart, Indiana, also contribute to efficiency.

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Share Repurchases

• Atkore completed a share repurchase program in the first quarter of fiscal year 2026, totaling $171.86 million for 2,074,812 shares.
• In fiscal year 2025, Atkore deployed $144 million towards share repurchases and dividend payments, with $100 million specifically allocated to share buybacks year-to-date as of the third quarter.
• The company executed $96 million in share repurchases during the first quarter of fiscal year 2024.

Share Issuance

• Atkore's number of outstanding shares generally decreased from 46.76 million in 2021 to 34.09 million in 2025, reflecting a net reduction over this period.
• Net common stock issuance, after accounting for taxes withheld, resulted in a negative cash flow of $6.214 million in fiscal year 2025 and $17.824 million in fiscal year 2024.

Outbound Investments

• In November 2022, Atkore acquired Elite Polymer Solutions, a manufacturer of HDPE conduit, for $91.6 million.
• During 2022, the company completed several acquisitions, including United Poly Systems, Cascade Poly Pipe, Northwest Polymers, and Talon Cable Cleats, to enhance its HDPE pipe and conduit manufacturing capacity, expand its product portfolio, and strengthen its position in recycling markets.
• In 2021, Atkore acquired Four Star Industries and FRE Composites Group, broadening its offerings in metal framing and fiberglass conduit solutions.

Capital Expenditures

• Capital expenditures for fiscal year 2025 amounted to $107.1 million, primarily directed towards equipment for routine operations and growth initiatives, including water pipe and Global Megaprojects.
• The company reported $44 million in capital expenditures during the first quarter of fiscal year 2024.
• Atkore has indicated a modest reduction in its capital expenditure expectations for fiscal year 2026, with a focus on ensuring investments are made in the right strategic projects.