Latest news with #RameyJackson
Yahoo
28-05-2025
- Business
- Yahoo
Commercial Building Products Stocks Q1 Teardown: Janus (NYSE:JBI) Vs The Rest
Looking back on commercial building products stocks' Q1 earnings, we examine this quarter's best and worst performers, including Janus (NYSE:JBI) and its peers. Commercial building products companies, which often serve more complicated projects, can supplement their core business with higher-margin installation and consulting services revenues. More recently, advances to address labor availability and job site productivity have spurred innovation. Additionally, companies in the space that can produce more energy-efficient materials have opportunities to take share. However, these companies are at the whim of commercial construction volumes, which tend to be cyclical and can be impacted heavily by economic factors such as interest rates. Additionally, the costs of raw materials can be driven by a myriad of worldwide factors and greatly influence the profitability of commercial building products companies. The 5 commercial building products stocks we track reported a strong Q1. As a group, revenues beat analysts' consensus estimates by 1.9% while next quarter's revenue guidance was 2% above. Luckily, commercial building products stocks have performed well with share prices up 13.9% on average since the latest earnings results. Standing out with its digital keyless entry into self-storage room technology, Janus (NYSE:JBI) is a provider of easily accessible self-storage solutions. Janus reported revenues of $210.5 million, down 17.3% year on year. This print exceeded analysts' expectations by 2%. Overall, it was a very strong quarter for the company with an impressive beat of analysts' adjusted operating income estimates and a solid beat of analysts' EPS estimates. 'We delivered first quarter results that were largely in-line with our expectations,' said Ramey Jackson, Chief Executive Officer. Janus delivered the slowest revenue growth of the whole group. The stock is up 16% since reporting and currently trades at $8.29. Is now the time to buy Janus? Access our full analysis of the earnings results here, it's free. Growing from a small wire manufacturer to one of the largest in the U.S., Insteel (NYSE:IIIN) provides steel wire reinforcing products for concrete. Insteel reported revenues of $160.7 million, up 26.1% year on year, outperforming analysts' expectations by 7.2%. The business had an incredible quarter with an impressive beat of analysts' EPS estimates and a solid beat of analysts' EBITDA estimates. Insteel achieved the biggest analyst estimates beat and fastest revenue growth among its peers. The market seems happy with the results as the stock is up 37.1% since reporting. It currently trades at $36.58. Is now the time to buy Insteel? Access our full analysis of the earnings results here, it's free. Responsible for projects like nuclear facilities, AZZ (NYSE:AZZ) is a provider of metal coating and power infrastructure solutions. AZZ reported revenues of $351.9 million, down 4% year on year, falling short of analysts' expectations by 4.3%. It was a slower quarter as it posted a miss of analysts' EBITDA estimates and full-year revenue guidance meeting analysts' expectations. AZZ delivered the weakest performance against analyst estimates and weakest full-year guidance update in the group. Interestingly, the stock is up 17.4% since the results and currently trades at $91.26. Read our full analysis of AZZ's results here. Involved in the design of the Apple Store on Fifth Avenue in New York City, Apogee (NASDAQ:APOG) sells architectural products and services such as high-performance glass for commercial buildings. Apogee reported revenues of $345.7 million, down 4.5% year on year. This number surpassed analysts' expectations by 4.2%. Overall, it was a strong quarter as it also logged a solid beat of analysts' EBITDA estimates and full-year revenue guidance beating analysts' expectations. Apogee pulled off the highest full-year guidance raise among its peers. The stock is down 14.5% since reporting and currently trades at $39.21. Read our full, actionable report on Apogee here, it's free. Founded after patenting the electric room thermostat, Johnson Controls (NYSE:JCI) specializes in building products and technology solutions, including HVAC systems, fire and security systems, and energy storage. Johnson Controls reported revenues of $5.68 billion, up 1.4% year on year. This result topped analysts' expectations by 0.7%. It was a strong quarter as it also put up a solid beat of analysts' organic revenue estimates and an impressive beat of analysts' adjusted operating income estimates. The stock is up 13.3% since reporting and currently trades at $100.55. Read our full, actionable report on Johnson Controls here, it's free. In response to the Fed's rate hikes in 2022 and 2023, inflation has been gradually trending down from its post-pandemic peak, trending closer to the Fed's 2% target. Despite higher borrowing costs, the economy has avoided flashing recessionary signals. This is the much-desired soft landing that many investors hoped for. The recent rate cuts (0.5% in September and 0.25% in November 2024) have bolstered the stock market, making 2024 a strong year for equities. Donald Trump's presidential win in November sparked additional market gains, sending indices to record highs in the days following his victory. However, debates continue over possible tariffs and corporate tax adjustments, raising questions about economic stability in 2025. Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. 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Associated Press
19-05-2025
- Business
- Associated Press
Janus International Announces Jason Williams as President, Janus International Group LLC ('Janus Core')
TEMPLE, Ga.--(BUSINESS WIRE)--May 19, 2025-- Janus International Group, Inc. (NYSE: JBI) ('Janus' or the 'Company'), a leading provider of access control technologies and building product solutions for the self-storage and other commercial and industrial sectors, today announced the appointment of Jason Williams as President of Janus International Group, LLC (' Janus Core '). He will report directly to Janus's Chief Executive Officer, Ramey Jackson. Mr. Williams will be responsible for the Janus Core strategy including oversight of sales, marketing, financial performance, and product development for the self-storage and commercial door and hallway business. Jason brings over 15 years of experience in leading and growing businesses in the access control space. Jason joined Janus from Fortune Brands Innovations (NYSE: FBIN) where he was President of the Security business unit following the Yale and August acquisition from ASSA ABLOY (STO: ASSA-B). Prior to that, he served as the President of Smart Residential for ASSA ABLOY leading the business since the inception of its first smart lock in 2011. Mr. Jackson commented, 'Jason has an impressive background at technologically advanced industrial companies and brings a wealth of knowledge and experience in leading cross-functioning teams. We look forward to his contributions as we continue to build the Janus Core business.' Mr. Williams stated, 'I am excited to join the Janus team and am grateful for the opportunity to lead Janus Core to continue building out industry-leading offerings and solutions across the self-storage and commercial markets. I also look forward to partnering with the talented Janus leadership team as we work to achieve our financial objectives.' About Janus International Group Janus International Group, Inc. ( ) is a leading global manufacturer and supplier of turn-key self-storage, commercial and industrial building solutions, including roll-up and swing doors, hallway systems, relocatable storage units and facility and door automation technologies. The Janus team operates out of several U.S. and international locations. Forward-Looking Statements Certain statements in this communication may be considered 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this communication are forward-looking statements, including, but not limited to statements regarding Janus's positioning in the industry, Janus's ability to strengthen its pipeline and deliver on its objectives, the anticipated impact of this appointment, and Janus's belief regarding the demand outlook for Janus's products and the strength of the industrials markets. When used in this communication, words such as 'plan,' 'believe,' 'expect,' 'anticipate,' 'intend,' 'outlook,' 'estimate,' 'forecast,' 'project,' 'continue,' 'could,' 'may,' 'might,' 'possible,' 'potential,' 'predict,' 'should,' 'would,' and other similar words and expressions or the negative of such terms or other similar expressions, as they relate to the management team, identify forward-looking statements. The forward-looking statements contained in this communication are based on our current expectations and beliefs concerning future developments and their potential effects on us. We cannot assure you that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Some factors that could cause actual results to differ materially from forward-looking statements or historical performance: (i) risks of the self-storage industry; (ii) the highly competitive nature of the self-storage industry and Janus's ability to compete therein; (iii) litigation, complaints, and/or adverse publicity; (iv) cyber incidents or directed attacks that could result in information theft, data corruption, operational disruption, and/or financial loss; (v) the risk that our share repurchase program will be fully consummated or that it will enhance shareholder value; and (vi) the risk that the demand outlook for Janus's products may not be as strong as anticipated. There can be no assurance that the events, results, or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Janus is not under any obligation and expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. This communication is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Janus and is not intended to form the basis of an investment decision in Janus. All subsequent written and oral forward-looking statements concerning Janus or other matters and attributable to Janus or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above and under the heading 'Risk Factors' in Janus's most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q, as updated from time to time in amendments and its subsequent filings with the SEC. View source version on CONTACT: Investor Contact Sara Macioch Senior Director, Investor Relations (770) 562-6399 [email protected] Contact Suzanne Reitz Vice President of Marketing 770-746-9576 [email protected] KEYWORD: UNITED STATES NORTH AMERICA GEORGIA INDUSTRY KEYWORD: OTHER CONSTRUCTION & PROPERTY MANUFACTURING COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY BUILDING SYSTEMS OTHER MANUFACTURING SOURCE: Janus International Group, Inc. Copyright Business Wire 2025. PUB: 05/19/2025 06:55 AM/DISC: 05/19/2025 06:54 AM
Yahoo
08-05-2025
- Business
- Yahoo
Janus's (NYSE:JBI) Q1 Sales Beat Estimates, Stock Jumps 12%
Self-storage and building solutions company Janus (NYSE:JBI) reported revenue ahead of Wall Street's expectations in Q1 CY2025, but sales fell by 17.3% year on year to $210.5 million. The company expects the full year's revenue to be around $875 million, close to analysts' estimates. Its non-GAAP profit of $0.13 per share was 79.3% above analysts' consensus estimates. Is now the time to buy Janus? Find out in our full research report. Revenue: $210.5 million vs analyst estimates of $206.4 million (17.3% year-on-year decline, 2% beat) Adjusted EPS: $0.13 vs analyst estimates of $0.07 (79.3% beat) Adjusted EBITDA: $38.4 million vs analyst estimates of $37.18 million (18.2% margin, 3.3% beat) The company reconfirmed its revenue guidance for the full year of $875 million at the midpoint EBITDA guidance for the full year is $185 million at the midpoint, above analyst estimates of $182.6 million Operating Margin: 12%, down from 21.8% in the same quarter last year Free Cash Flow Margin: 19.9%, down from 69% in the same quarter last year Market Capitalization: $1.00 billion 'We delivered first quarter results that were largely in-line with our expectations,' said Ramey Jackson, Chief Executive Officer. Standing out with its digital keyless entry into self-storage room technology, Janus (NYSE:JBI) is a provider of easily accessible self-storage solutions. A company's long-term sales performance is one signal of its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. Thankfully, Janus's 13% annualized revenue growth over the last four years was excellent. Its growth beat the average industrials company and shows its offerings resonate with customers. We at StockStory place the most emphasis on long-term growth, but within industrials, a stretched historical view may miss cycles, industry trends, or a company capitalizing on catalysts such as a new contract win or a successful product line. Janus's recent performance marks a sharp pivot from its four-year trend as its revenue has shown annualized declines of 6% over the last two years. This quarter, Janus's revenue fell by 17.3% year on year to $210.5 million but beat Wall Street's estimates by 2%. Looking ahead, sell-side analysts expect revenue to decline by 4.7% over the next 12 months, similar to its two-year rate. While this projection is better than its two-year trend, it's tough to feel optimistic about a company facing demand difficulties. Software is eating the world and there is virtually no industry left that has been untouched by it. That drives increasing demand for tools helping software developers do their jobs, whether it be monitoring critical cloud infrastructure, integrating audio and video functionality, or ensuring smooth content streaming. Click here to access a free report on our 3 favorite stocks to play this generational megatrend. Janus has been a well-oiled machine over the last five years. It demonstrated elite profitability for an industrials business, boasting an average operating margin of 17.4%. This result isn't surprising as its high gross margin gives it a favorable starting point. Looking at the trend in its profitability, Janus's operating margin decreased by 4.8 percentage points over the last five years. This raises questions about the company's expense base because its revenue growth should have given it leverage on its fixed costs, resulting in better economies of scale and profitability. This quarter, Janus generated an operating profit margin of 12%, down 9.8 percentage points year on year. Since Janus's operating margin decreased more than its gross margin, we can assume it was less efficient because expenses such as marketing, R&D, and administrative overhead increased. We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company's growth is profitable. Sadly for Janus, its EPS declined by 15.2% annually over the last four years while its revenue grew by 13%. This tells us the company became less profitable on a per-share basis as it expanded. Like with revenue, we analyze EPS over a shorter period to see if we are missing a change in the business. For Janus, its two-year annual EPS declines of 20.3% show it's continued to underperform. These results were bad no matter how you slice the data. In Q1, Janus reported EPS at $0.13, down from $0.21 in the same quarter last year. Despite falling year on year, this print easily cleared analysts' estimates. We also like to analyze expected EPS growth based on Wall Street analysts' consensus projections, but there is insufficient data. We were impressed by how significantly Janus blew past analysts' revenue, EPS, and EBITDA expectations this quarter. We were also glad its full-year EBITDA guidance topped Wall Street's estimates. Overall, we think this was a solid quarter with some key areas of upside. The stock traded up 12% to $8.01 immediately following the results. Janus may have had a good quarter, but does that mean you should invest right now? When making that decision, it's important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here, it's free. Sign in to access your portfolio
Business Wire
08-05-2025
- Business
- Business Wire
Janus International Group Reports First Quarter 2025 Financial Results
TEMPLE, Ga.--(BUSINESS WIRE)--Janus International Group, Inc. (NYSE: JBI) ('Janus' or the 'Company'), a leading provider of building product solutions and cutting-edge access control technologies for the self-storage and other commercial and industrial sectors, today announced financial results for its fiscal first quarter ended March 29, 2025. First Quarter 2025 Highlights Revenues of $210.5 million, a 17.3% decrease compared to $254.5 million for the first quarter of 2024, as total Self-Storage revenues were down 23.1% and Commercial and Other declined 1.0%. The 2024 acquisition of TMC contributed $3.5 million to revenue to the Commercial and Other sales channel. Net income of $10.8 million, or $0.08 per diluted share, a 64.8% decrease compared to $30.7 million, or $0.21 per diluted share in the first quarter of 2024. Adjusted Net Income* (defined as net income plus the corresponding tax-adjusted add-backs shown in the Reconciliation of Net Income to Adjusted Net Income tables below) of $17.7 million, down 51.6% compared to $36.6 million in the first quarter of 2024. Adjusted Net Income per diluted share of $0.13, a 48.0% decrease compared to $0.25 per diluted share in the first quarter of 2024. Adjusted EBITDA* of $38.4 million, a 42.1% decrease compared to $66.3 million for the first quarter of 2024. Adjusted EBITDA Margin (defined as Adjusted EBITDA divided by Total Revenues) was 18.2%, a decrease of approximately 790 basis points from the prior year period. Repurchased 0.6 million shares of common stock for $5.1 million (including commissions and excise taxes). At quarter end, the Company had $16.3 million of remaining capacity on its share repurchase authorization. 'We delivered first quarter results that were largely in-line with our expectations,' said Ramey Jackson, Chief Executive Officer. 'While macroeconomic volatility and concerns around inflation and tariffs are top of mind, we believe we are well-prepared to deliver solid results across a wide range of scenarios.' Mr. Jackson continued, 'We are an industry leader in self-storage, offering purpose built, diversified and ever-evolving solutions for our customers. We remain focused on investing in the business and enhancing our market share through continued expansion of our suite of offerings and capabilities. Armed with our strong balance sheet and resilient cash flow, we will continue our efforts to seek out and deliver accretive, shareholder value-enhancing opportunities. The strategic alignment and resilience of our business model are reflected in our re-affirmed 2025 guidance, and position us to deliver long-term shareholder value.' 2025 Financial Outlook Based on the Company's current business outlook, Janus is reaffirming its full year 2025 guidance as follows: The estimates set forth above were prepared by the Company's management and are based upon a number of assumptions. See 'Forward-Looking Statements.' The Company has excluded a quantitative reconciliation with respect to the Company's 2025 guidance under the 'unreasonable efforts' exception in Item 10(e)(1)(i)(B) of Regulation S-K. See 'Non-GAAP Financial Measures' below for additional information. About Janus International Group Janus International Group, Inc. ( is a leading global manufacturer and supplier of turn-key self-storage, commercial and industrial building solutions, including: roll-up and swing doors, hallway systems, relocatable storage units and facility and door automation technologies. The Janus team operates out of several U.S and international locations. Conference Call and Webcast The Company will host a conference call and webcast to review first quarter results and conduct a question-and-answer session on Thursday May 8, 2025 at 10:00 a.m. Eastern time. The live webcast and archived replay of the conference call can be accessed on the Investors section of the Company's website at For those unable to access the webcast, the conference call will be accessible domestically or internationally, by dialing 1-800-267-6316 or 1-203-918-9783, respectively. Upon dialing in, please request to join the Janus International Group First Quarter 2025 Earnings Conference Call. To access the replay of the call, dial 1-844-512-2921 (Domestic) and 1-412-317-6671 (International) with pass code 11158538. Forward-Looking Statements Certain statements in this communication, including the estimated guidance provided under '2025 Financial Outlook' herein, may be considered 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this communication are forward-looking statements, including, but not limited to statements regarding Janus's belief regarding the demand outlook for Janus's products and the strength of the industrials markets. When used in this communication, words such as 'plan,' 'believe,' 'expect,' 'anticipate,' 'intend,' 'outlook,' 'estimate,' 'forecast,' 'project,' 'continue,' 'could,' 'may,' 'might,' 'possible,' 'potential,' 'predict,' 'should,' 'would,' and other similar words and expressions or the negative of such terms or other similar expressions, as they relate to the management team, identify forward-looking statements. The forward-looking statements contained in this communication are based on our current expectations and beliefs concerning future developments and their potential effects on us. We cannot assure you that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Some factors that could cause actual results to differ materially from forward-looking statements or historical performance: (i) risks of the self-storage industry; (ii) the highly competitive nature of the self-storage industry and Janus's ability to compete therein; (iii) litigation, complaints, and/or adverse publicity; (iv) cyber incidents or directed attacks that could result in information theft, data corruption, operational disruption, and/or financial loss; (v) the risk that our share repurchase program will be fully consummated or that it will enhance shareholder value; and (vi) the risk that the demand outlook for Janus's products may not be as strong as anticipated. There can be no assurance that the events, results, trends or guidance regarding financial outlook identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Janus is not under any obligation and expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. This communication is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Janus and is not intended to form the basis of an investment decision in Janus. All subsequent written and oral forward-looking statements concerning Janus or other matters and attributable to Janus or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above and under the heading 'Risk Factors' in Janus's most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q, as updated from time to time in amendments and its subsequent filings with the SEC. Non-GAAP Financial Measures Janus uses measures of performance that are not required by or presented in accordance with GAAP in the United States. Non-GAAP financial performance measures are used to supplement the financial information presented on a GAAP basis. These non-GAAP financial measures should not be considered in isolation or as a substitute for the relevant GAAP measures and should be read in conjunction with information presented on a GAAP basis. Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, and Adjusted Earnings Per Share (EPS) are non-GAAP financial measures used by Janus to evaluate its operating performance, generate future operating plans, and make strategic decisions, including those relating to operating expenses and the allocation of internal resources. Accordingly, Janus believes Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, and Adjusted EPS provide useful information to investors and others in understanding and evaluating Janus's operating results in the same manner as its management and board of directors and in comparison with Janus's peer group companies. In addition, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, and Adjusted EPS provide useful measures for period-to-period comparisons of Janus's business, as they remove the effect of certain non-recurring events and other non-recurring charges, such as acquisitions, and certain variable or non-recurring charges. Adjusted EBITDA is defined as net income excluding interest expense, income taxes, depreciation expense, amortization, and other non-operational, non-recurring items. Adjusted Net Income is defined as net income plus the corresponding tax-adjusted add-backs shown in the Adjusted EBITDA reconciliation. Please note that the Company has not provided the most directly comparable GAAP financial measure, or a quantitative reconciliation thereto, for the Adjusted EBITDA forward-looking guidance for 2025 and long-term outlook included in this communication in reliance on the 'unreasonable efforts' exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. Due to the forward-looking nature of projected Adjusted EBITDA, providing the most directly comparable GAAP financial measure, or a quantitative reconciliation thereto, cannot be done without unreasonable effort due to the inherent uncertainty and difficulty in predicting certain non-cash, material and/or non-recurring expenses or benefits, legal settlements or other matters, and certain tax positions. Because these adjustments are inherently variable and uncertain and depend on various factors that are beyond the Company's control, the Company is also unable to predict their probable significance. The variability of these items could have an unpredictable, and potentially significant, impact on our future GAAP financial results and amounts excluded from these non-GAAP measures in future periods could be significant. Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, and Adjusted EPS should not be considered in isolation of, or as an alternative to, measures prepared in accordance with GAAP. There are a number of limitations related to the use of Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, and Adjusted EPS rather than net income (loss), which is the nearest GAAP equivalent of Adjusted EBITDA and Adjusted Net Income. These limitations include that the non-GAAP financial measures: exclude depreciation and amortization, and although these are non-cash expenses, the assets being depreciated may be replaced in the future; do not reflect interest expense, or the cash requirements necessary to service interest on debt, which reduces cash available; do not reflect the provision for or benefit from income tax that may result in payments that reduce cash available; exclude non-recurring items (i.e., the extinguishment of debt); and may not be comparable to similar non-GAAP financial measures used by other companies, because the expenses and other items that Janus excludes in the calculation of these non-GAAP financial measures may differ from the expenses and other items, if any, that other companies may exclude from these non-GAAP financial measures when they report their operating results. Because of these limitations, these non-GAAP financial measures should be considered along with other operating and financial performance measures presented in accordance with GAAP. Janus International Group, Inc. Consolidated Balance Sheets (In millions, except share and per share data - Unaudited) March 29, 2025 December 28, 2024 ASSETS Current assets Cash and cash equivalents $ 140.8 $ 149.3 Accounts receivable, less allowance for credit losses of $15.1 and $18.1, as of March 29, 2025 and December 28, 2024, respectively 120.6 136.5 Contract assets 28.2 23.2 Inventories 53.3 53.3 Prepaid expenses 7.5 7.2 Other current assets 10.9 16.0 Total current assets $ 361.3 $ 385.5 Property, plant, and equipment, net 61.1 56.8 Right-of-use assets, net 59.1 59.7 Intangible assets, net 365.7 373.5 Goodwill 383.4 383.1 Deferred tax assets, net 36.0 36.9 Other assets 5.2 5.8 Total assets $ 1,271.8 $ 1,301.3 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 57.8 $ 53.9 Contract liabilities 17.9 17.9 Current maturities of long-term debt 7.5 8.8 Accrued expenses and other current liabilities 56.1 56.2 Total current liabilities $ 139.3 $ 136.8 Long-term debt, net 544.5 583.2 Deferred tax liabilities, net 1.7 1.7 Other long-term liabilities 59.5 60.8 Total liabilities $ 745.0 $ 782.5 STOCKHOLDERS' EQUITY Common stock, 825,000,000 shares authorized, $0.0001 par value, 148,164,578 and 147,280,524 shares issued as of March 29, 2025 and December 28, 2024, respectively $ — $ — Treasury stock, at cost, 8,230,011 and 7,276,549 shares as of March 29, 2025 and December 28, 2024, respectively (89.1 ) (81.4 ) Additional paid-in capital 303.7 299.7 Accumulated other comprehensive loss (2.9 ) (3.8 ) Retained earnings 315.1 304.3 Total stockholders' equity $ 526.8 $ 518.8 Total liabilities and stockholders' equity $ 1,271.8 $ 1,301.3 Expand Janus International Group, Inc. Consolidated Statements of Cash Flows (In millions - Unaudited) Three Months Ended March 30, 2024 Cash flows provided by operating activities Net income $ 10.8 $ 30.7 Adjustments to reconcile net income to net cash provided by operating activities Depreciation of property, plant, and equipment 2.9 2.8 Noncash lease expense 1.9 1.7 Provision for inventory obsolescence 0.6 0.2 Amortization of intangibles 8.3 7.4 Deferred income taxes, net 0.9 2.5 Deferred finance fee amortization 1.2 0.5 Provision for expected losses on accounts receivable 0.2 0.5 Share-based compensation 4.0 1.9 Loss on equity investment 0.1 — Changes in operating assets and liabilities, excluding effects of acquisition Accounts receivable 15.8 (18.4 ) Contract assets (4.9 ) 14.3 Prepaid expenses and other current assets 4.7 3.0 Inventories (0.4 ) (2.9 ) Other assets 0.3 0.3 Accounts payable 3.2 1.5 Contract liabilities (0.2 ) 3.0 Accrued expenses and other current liabilities 0.4 (18.9 ) Other long-term liabilities (1.5 ) (1.5 ) Net cash provided by operating activities $ 48.3 $ 28.6 Cash flows used in investing activities Purchases of property, plant, and equipment $ (6.4 ) $ (4.6 ) Net cash used in investing activities $ (6.4 ) $ (4.6 ) Cash flows used in financing activities Principal payments on long-term debt $ (41.5 ) $ (1.6 ) Principal payments under finance lease obligations (0.7 ) (0.2 ) Cash paid for common stock withheld for taxes (2.6 ) — Excise taxes paid for repurchase of common stock (0.8 ) — Repurchase of common stock (5.0 ) (15.3 ) Net cash used in financing activities $ (50.6 ) $ (17.1 ) Effect of exchange rate changes on cash and cash equivalents $ 0.2 $ (0.2 ) Net (decrease) increase in cash $ (8.5 ) $ 6.7 Cash, beginning of period $ 149.3 $ 171.7 Cash, end of period $ 140.8 $ 178.4 Supplemental cash flows information Interest paid $ 7.6 $ 18.8 Income taxes paid $ 0.3 $ 0.9 Cash paid for operating leases included in operating activities $ 2.5 $ 2.1 Non-cash investing and financing activities: Right-of-use assets obtained in exchange for operating lease obligations $ — $ 1.0 Right-of-use assets obtained in exchange for finance lease obligations $ 1.2 $ — RSU shares withheld included in accrued employee taxes $ 0.2 $ 0.9 Excise taxes from common share repurchase included in accrued expenses $ 0.1 $ — Purchases of property, plant, and equipment in accounts payable $ 0.7 $ — Expand Janus International Group, Inc. Reconciliation of Net Income to EBITDA* and Adjusted EBITDA* (In millions, except percentages) Three Months Ended Variance March 29, 2025 March 30, 2024 $ % Net income $ 10.8 $ 30.7 $ (19.9 ) (64.8 )% Interest, net 10.2 14.4 (4.2 ) (29.2 )% Income taxes 4.6 10.5 (5.9 ) (56.2 )% Depreciation 2.9 2.8 0.1 3.6 % Amortization 8.3 7.4 0.9 12.2 % EBITDA* $ 36.8 $ 65.8 $ (29.0 ) (44.1 )% Restructuring charges (1) 0.4 0.4 — — % Acquisition expense (2) 0.9 0.1 0.8 800.0 % Other 0.3 — 0.3 100.0 % Adjusted EBITDA* $ 38.4 $ 66.3 $ (27.9 ) (42.1 )% Expand (1) Restructuring charges consist of the following: 1) facility relocations, 2) severance and hiring costs associated with our strategic transformation, including executive leadership team changes, and 3) strategic business assessment and transformation projects. (2) Expenses or income related to various professional fees, acquisition related compensation, net working capital finalization, legal settlements and various acquisition related activities. *Janus uses measures of performance that are not required by or presented in accordance with GAAP in the United States. Non-GAAP financial performance measures are used to supplement the financial information presented on a GAAP basis. These non-GAAP financial measures should not be considered in isolation or as a substitute for the relevant GAAP measures and should be read in conjunction with information presented on a GAAP basis. The Company has excluded a quantitative reconciliation of Adjusted EBITDA with respect to the Company's 2025 guidance in the '2025 Financial Outlook' section under the 'unreasonable efforts' exception in Item 10(e)(1)(i)(B) of Regulation S-K. Providing the most directly comparable GAAP financial measure, or a quantitative reconciliation thereto, cannot be done without unreasonable effort due to the inherent uncertainty and difficulty in predicting certain non-cash, material and/or non-recurring expenses or benefits, legal settlements or other matters, and certain tax positions. Because these adjustments are inherently variable and uncertain and depend on various factors that are beyond the Company's control, the Company is also unable to predict their probable significance. The variability of these items could have an unpredictable, and potentially significant, impact on our future GAAP financial results. Expand (1) Net income adjustments for the three months ended March 29, 2025 include $0.4 restructuring charges, $0.9 acquisition expenses, and $0.3 of other. Net Income Adjustments for the three months ended March 30, 2024 include $0.4 restructuring charges and $0.1 acquisition expenses. Refer to the adjusted EBITDA table above for further details. (2) The effective tax rate of 29.9% was used for the three months ended March 29, 2025. The effective tax rate of 25.5% was used for the three months ended March 30, 2024. *Janus uses measures of performance that are not required by or presented in accordance with GAAP in the United States. Non-GAAP financial performance measures are used to supplement the financial information presented on a GAAP basis. These non-GAAP financial measures should not be considered in isolation or as a substitute for the relevant GAAP measures and should be read in conjunction with information presented on a GAAP basis. Expand Janus International Group, Inc. Adjusted EPS* (In millions, except share and per share data) Three Months Ended March 29, 2025 March 30, 2024 Numerator: GAAP Net Income $ 10.8 $ 30.7 Non-GAAP Adjusted Net Income $ 17.7 $ 36.6 Denominator: Weighted average number of shares: Basic 140,050,632 146,604,142 Adjustment for Dilutive Securities 219,862 442,070 Diluted 140,270,494 147,046,212 GAAP Basic EPS $ 0.08 $ 0.21 GAAP Diluted EPS $ 0.08 $ 0.21 Non-GAAP Adjusted Basic EPS $ 0.13 $ 0.25 Non-GAAP Adjusted Diluted EPS $ 0.13 $ 0.25 *Janus uses measures of performance that are not required by or presented in accordance with GAAP in the United States. Non-GAAP financial performance measures are used to supplement the financial information presented on a GAAP basis. These non-GAAP financial measures should not be considered in isolation or as a substitute for the relevant GAAP measures and should be read in conjunction with information presented on a GAAP basis. Expand Trailing Twelve-Months Ended March 29, 2025 March 30, 2024 Cash Flow from Operating Activities $ 173.7 $ 193.3 Less: Purchases of property, plant and equipment (21.9 ) (17.6 ) Free Cash Flow $ 151.8 $ 175.7 Non-GAAP Adjusted Net Income 1 $ 89.1 $ 165.4 Free Cash Flow Conversion of Non-GAAP Adjusted Net Income 170 % 106 % Expand (1) Trailing Twelve-month Adjusted Net Income for the period ended March 29, 2025 consists of the sum of Adjusted Net Income, of $36.1, $21.8, $13.5 and $17.7 for the periods ended June 29, 2024, September 28, 2024, December 28, 2024 and March 29, 2025, respectively. Trailing Twelve-month Adjusted Net Income for the period ended March 30, 2024 consists of the sum of Adjusted Net Income of $42.7, $44.6, $41.5 and $36.6 for the periods ended July 1, 2023, September 30, 2023, December 30, 2023 and March 30, 2024, respectively. *Janus uses measures of performance that are not required by or presented in accordance with GAAP in the United States. Non-GAAP financial performance measures are used to supplement the financial information presented on a GAAP basis. These non-GAAP financial measures should not be considered in isolation or as a substitute for the relevant GAAP measures and should be read in conjunction with information presented on a GAAP basis. Expand Janus International Group, Inc. Non-GAAP Net Leverage Ratio* (In millions, except ratios) March 29, 2025 December 28, 2024 Note payable - First Lien $ 557.0 $ 598.5 Less: Cash 140.8 149.3 Net Debt* $ 416.2 $ 449.2 Net Income (Trailing Twelve-Month periods ended) 1 $ 50.5 $ 70.4 Adjusted EBITDA (Trailing Twelve-Month periods ended) 2 $ 180.6 $ 208.5 Long-Term Debt to Net Income 11.0 8.5 Non-GAAP Net Leverage Ratio* 2.3 2.2 Expand (1) Trailing Twelve-months Net Income for the period ended March 29, 2025 consists of the sum of Net Income as reported in the Company's Quarterly and Annual Reports, as applicable of $27.6, $11.8, $0.3 and $10.8 for the periods ended June 29, 2024, September 28, 2024, December 28, 2024 and March 29, 2025, respectively. Trailing Twelve-months Net Income for the period ended December 28, 2024 is Net Income as reported in the Company's Annual Report on Form 10-K for the year ended December 28, 2024. (2) Trailing Twelve-months Adjusted EBITDA for the period ended March 29, 2025 consists of the sum of Adjusted EBITDA as reported in the Company's Quarterly or Annual Reports, as applicable of $64.5, $43.1, $34.6 and $38.4 for the three month periods ended June 29, 2024, September 28, 2024, December 28, 2024 and March 29, 2025, respectively. Trailing Twelve-month Adjusted EBITDA for the period ended December 28, 2024 is Adjusted EBITDA as reported in the Company's Annual Report on Form 10-K for the year ended December 28, 2024. *Janus uses measures of performance that are not required by or presented in accordance with GAAP in the United States. Non-GAAP financial performance measures are used to supplement the financial information presented on a GAAP basis. These non-GAAP financial measures should not be considered in isolation or as a substitute for the relevant GAAP measures and should be read in conjunction with information presented on a GAAP basis. Expand
