Quarterly Financial Beats
Net sales of $656 million and adjusted EBITDA of $69 million both came in above the company's outlook range for Q1; adjusted EPS was $0.83, also above the top end of the outlook range.
Productivity and Cost Savings
Company delivered over $30 million of year-over-year productivity savings, driven largely by the S&I segment and operational improvements across plants.
Volume Growth
Organic volumes increased 2% in Q1, driven primarily by metal electrical conduit and plastic pipe conduit benefiting from healthy nonresidential end-market demand.
Fiscal 2026 Guidance Reaffirmed
Full-year FY'26 guidance reaffirmed: net sales $2.95B–$3.05B (net of an estimated ~$40M annual sales related to the Tectron divestiture), adjusted EBITDA $340M–$360M, and adjusted EPS $5.05–$5.55.
Strategic Portfolio Actions
Completed divestiture of the Tectron mechanical tube product line to sharpen focus on electrical infrastructure; announced exit of three manufacturing facilities as part of 80/20 initiative to reallocate capacity to electrical end markets.
Favorable Balance Sheet and Cash Receipts
Ended the quarter in a favorable cash position, recognized approximately $18 million of cash proceeds from the Tectron sale with an additional ~$7 million expected in Q2; no debt maturities due until 2030.
Segment-Level Wins
S&I segment: adjusted EBITDA and margins increased year-over-year due to productivity; Hobart solar torque-tube facility contributed materially to productivity gains and improved operational rates.
Positive End-Market Indicators
Company cites favorable forward indicators including a strong Dodge Momentum Index and large near-term data center investment opportunity (Moody's estimate of $3 trillion over 5 years) supporting long-term demand for conduit, cable management and metal framing.