1. Hubbell for electrical raceway.

2. Johnson Controls for electrical conduits.

• Steel, PVC, and Aluminum Conduit: Pipes and tubes used to protect and route electrical wiring in buildings and structures.
• Conduit Fittings: Components like elbows, couplings, and connectors used to join and terminate conduit sections.
• Strut Channel Systems: Support frameworks used in various construction and industrial applications for mounting, hanging, and supporting electrical and mechanical components.
• Cable Management Solutions: Products such as cable trays, wire baskets, and strut accessories designed to organize and support electrical cables.
• Wires and Cables: Insulated conductors used for transmitting electricity, often supplied pre-installed within conduit.

Atkore (ATKR) sells primarily to other companies (B2B).

According to Atkore's financial filings, including their most recent 10-K report, the company serves a diverse customer base. No single customer accounted for more than 10% of their consolidated net sales for the fiscal years ended September 29, 2023, September 30, 2022, or September 24, 2021. Therefore, Atkore does not have individual "major customers" in terms of revenue concentration that are publicly disclosed.

Atkore's direct customers are primarily various types of distributors who then sell Atkore's products to a wide array of end-users such as contractors, data center operators, original equipment manufacturers, and other businesses. The primary categories of these direct customer companies include:

• Electrical Distributors
• Mechanical Distributors
• Industrial Distributors

As Atkore does not disclose specific major customer companies due to their diversified customer base and the lack of concentration with any single client, specific names and stock symbols of individual customer companies cannot be provided.

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William E. Waltz, President and Chief Executive Officer

Mr. Waltz has served as the President and Chief Executive Officer of Atkore since 2018. Prior to his role as CEO, he held several executive positions at Atkore, including Chief Operating Officer and Group President of its electrical business. From 2009 until joining Atkore in 2013, Mr. Waltz was Chairman and Chief Executive Officer at Strategic Materials, Inc., North America's largest 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.

John Deitzer, Vice President, Chief Financial Officer

Mr. Deitzer was appointed as Vice President, Chief Financial Officer, effective August 9, 2024. He joined Atkore in 2019, serving as Vice President of Investor Relations and later overseeing Environmental, Social, and Governance (ESG) initiatives and Treasury responsibilities. Prior to Atkore, he spent four years at Alcoa Corporation in investor relations and management consulting and strategy roles. Mr. Deitzer also held investor relations and corporate strategy roles at H.J. Heinz Company and began his management career at PPG Industries, overseeing global sales for the Industrial Coatings business.

Daniel S. Kelly, Vice President, General Counsel and Secretary

Mr. Kelly joined Atkore in September 2013. For 20 years prior, he held strategic legal officer roles within various businesses of ITT Corporation and Xylem, Inc., a 2011 spinoff from ITT. His roles included acting General Counsel at Xylem and Vice President and General Counsel of ITT Fluid and Motion Control and ITT Defense Electronics and Services.

John W. Pregenzer, Chief Operating Officer and President, Electrical

Mr. Pregenzer was promoted to Chief Operating Officer in January 2025. He joined Atkore in July 2015 as Vice President and General Manager of the Plastic Pipe and Conduit strategic business unit. He spent the majority of his career in executive sales, marketing, and operations positions with Georg Fischer AG, a Swiss-based industrial products manufacturer.

Matthew D. Kline, Vice President, Treasury and Investor Relations

Mr. Kline was appointed to his current role in February 2024. Previously, he held dual responsibilities at Atkore as Vice President & General Manager for the Fiberglass Conduit business and Vice President – Finance for the Electrical business unit. He joined Atkore in 2014 as Corporate Controller and played a critical role in the company's initial public offering. Before Atkore, Mr. Kline was Director-Finance and Corporate Controller at Coleman Cable, Inc. and Segment Controller at Young Innovations, Inc.

Atkore (ATKR) operates primarily in electrical, safety, and infrastructure solutions. The addressable market sizes for its main products and services are as follows:

• Electrical Conduit Systems: The global electrical conduit market was estimated to be USD 6.5 billion in 2021 and is projected to reach USD 9.1 billion by 2026, growing at a compound annual growth rate (CAGR) of 6.9% from 2021 to 2026. The worldwide electrical conduit systems market also stood at a revenue of US$6,139.2 million in 2019 and was expected to expand with a CAGR of 10.1% from 2020 to 2028. The Asia-Pacific (APAC) region led the global electrical conduit market in 2020, accounting for a 37.8% share.
• Cable and Cable Management Systems: null
• Metal Framing, Mechanical Pipe, Perimeter Security, and Construction Services (Safety and Infrastructure Segment): null

Atkore (ATKR) Expected Drivers of Future Revenue Growth

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

1. Growth in Data Centers and Solar Markets: Atkore is optimistic about significant growth opportunities within the data center and solar markets. The company's product portfolio is strategically aligned with the robust expansion expected in these end markets, which are anticipated to drive increased demand for its electrical products and solutions.
2. Strategic Focus on Core Electrical Infrastructure: Atkore is actively realigning its business to concentrate on its core electrical infrastructure portfolio, which encompasses both its Electrical and Safety & Infrastructure segments. This strategic focus includes evaluating the divestiture of non-core assets, such as its HDPE pipe and conduit business, to streamline operations and enhance long-term shareholder value by dedicating resources to its most promising areas.
3. Organic Volume Growth: The company has demonstrated consistent organic volume growth, reporting 2% in the third quarter of fiscal year 2025 and 5% in the second quarter of fiscal year 2025. Atkore anticipates continued modest volume growth, reflecting sustained demand for its products.
4. "Buy America" Policies and Domestic Manufacturing Advantage: Atkore's strong focus on U.S. production positions it favorably in light of "Buy America" policies. This domestic manufacturing footprint provides a regulatory advantage and is expected to drive increased demand, particularly for federally funded infrastructure projects.
5. Category Expansion Initiatives and Innovation: Atkore is pursuing category expansion initiatives, including ramping up facilities for solar-related torque tube capacity and developing regional service centers. The company also emphasizes innovation in its electrical products. These efforts are expected to contribute to revenue growth in fiscal year 2025 and beyond.

Capital Allocation Decisions (Last 3-5 Years)

Share Repurchases

• Atkore repurchased $381 million of its common stock in fiscal year 2024.
• Between 2016 and Q1 2025, Atkore allocated $2.1 billion to share buybacks, resulting in an approximate 42.5% reduction in its share count.
• In Q3 2025, Atkore returned approximately 75% of cash generated from operating activities to shareholders through dividends and share repurchases.

Inbound Investments

• Bayforest Capital Ltd made a new investment in Atkore in Q2 2025, acquiring 15,346 shares valued at approximately $1.083 million.
• Several large institutional investors, including Dogwood Wealth Management LLC and Harbor Capital Advisors Inc., significantly increased their holdings in Atkore during Q1 and Q2 2025.

Outbound Investments

• Atkore has been active in acquisitions, including Elite Polymer Solutions in November 2022, Cascade Poly Pipe & Conduit in August 2022, and United Poly Systems in June 2022.
• The acquisition of Cascade Poly Pipe & Conduit and Northwest Polymers in August 2022 had a total purchase price of $62.1 million.

Capital Expenditures

• Capital expenditures were $218.9 million in fiscal year 2023 and $149.861 million in fiscal year 2024.
• For fiscal year 2025, projected capital expenditures are $109 million.
• The primary focus of these investments is to enhance capabilities and capacity for product growth, including Regional Service Centers, solar torque tube manufacturing, and HDPE related products.