Group 1 - Janus International Group, Inc. reported quarterly earnings of $0.20 per share, exceeding the Zacks Consensus Estimate of $0.15 per share, but down from $0.21 per share a year ago, representing an earnings surprise of +33.33% [1] - The company posted revenues of $228.1 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 7.04%, although this is a decrease from year-ago revenues of $248.4 million [2] - Janus International Group shares have increased approximately 18.1% since the beginning of the year, outperforming the S&P 500's gain of 7.9% [3] Group 2 - The company's earnings outlook is crucial for investors, including current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The estimate revisions trend for Janus International Group was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] - The current consensus EPS estimate for the upcoming quarter is $0.19 on revenues of $226.6 million, and for the current fiscal year, it is $0.65 on revenues of $881 million [7] Group 3 - The outlook for the Building Products - Miscellaneous industry, where Janus International Group operates, is currently in the bottom 37% of over 250 Zacks industries, which may impact the stock's performance [8]

[Second Quarter 2025 Financial Results Overview](index=1&type=section&id=Second%20Quarter%202025%20Financial%20Results%20Overview) This section provides an overview of Janus International Group's second quarter 2025 financial performance, including key highlights, CEO commentary, and company description [Key Financial Highlights](index=1&type=section&id=1.1%20Key%20Financial%20Highlights) Janus International Group reported a decrease in total revenue and net income for Q2 2025 compared to Q2 2024, primarily due to softness in the self-storage business, yet deployed $10.1 million into share repurchases and reaffirmed its full-year 2025 guidance | Metric | Q2 2025 (million) | Q2 2024 (million) | Change ($ million) | Change (%) | | :-------------------------- | :---------------- | :---------------- | :----------------- | :--------- | | Total Revenue | $228.1 | $248.4 | ($20.3) | (8.2)% | | Net Income | $20.7 | $27.6 | ($6.9) | (25.0)% | | Diluted EPS | $0.15 | $0.19 | ($0.04) | (21.1)% | | Adjusted Net Income* | $28.2 | $36.1 | ($7.9) | (21.9)% | | Adjusted EPS* | $0.20 | $0.25 | ($0.05) | (20.0)% | | Adjusted EBITDA* | $49.0 | $64.5 | ($15.5) | (24.0)% | | Adjusted EBITDA Margin* | 21.5% | 26.0% | (4.5)% | | - Repurchased approximately **1.2 million shares** of common stock for **$10.1 million**, with **$81.3 million** remaining capacity on the share repurchase authorization[1](index=1&type=chunk)[4](index=4&type=chunk) [CEO Commentary](index=1&type=section&id=1.2%20CEO%20Commentary) CEO Ramey Jackson highlighted strong Q2 results despite a dynamic operating environment, noting softness in domestic self-storage due to elevated interest rates but positive trends in commercial and international markets, while reaffirming full-year 2025 guidance based on a strong balance sheet and robust cash flow - Domestic self-storage business experienced softness due to elevated interest rates and macroeconomic uncertainty[3](index=3&type=chunk) - Positive trends observed in the commercial business and international markets[3](index=3&type=chunk) - Reaffirmed full-year 2025 revenue and Adjusted EBITDA outlook, citing solid year-to-date results and market visibility[3](index=3&type=chunk) [Company Description](index=2&type=section&id=1.3%20Company%20Description) Janus International Group, Inc. is a leading global manufacturer and supplier of turn-key building solutions for the self-storage, commercial, and industrial sectors, offering products such as roll-up and swing doors, hallway systems, relocatable storage units, and facility/door automation technologies - Janus International Group is a leading global manufacturer and supplier of turn-key self-storage, commercial, and industrial building solutions[6](index=6&type=chunk) - Product offerings include roll-up and swing doors, hallway systems, relocatable storage units, and facility and door automation technologies[6](index=6&type=chunk) [Financial Outlook](index=2&type=section&id=Financial%20Outlook) This section provides Janus International Group's reaffirmed full-year 2025 financial guidance for revenue and Adjusted EBITDA [Full-Year 2025 Guidance](index=2&type=section&id=2.1%20Full-Year%202025%20Guidance) Janus International Group reaffirmed its full-year 2025 financial guidance for both revenue and Adjusted EBITDA, indicating confidence in its business outlook despite current market conditions | Metric | Range (Millions) | | :-------------- | :--------------- | | Revenue | $860 - $890 | | Adjusted EBITDA | $175 - $195 | - The company has excluded a quantitative reconciliation for Adjusted EBITDA guidance due to the 'unreasonable efforts' exception under Regulation S-K[5](index=5&type=chunk) [Corporate Information and Disclosures](index=2&type=section&id=Corporate%20Information%20and%20Disclosures) This section provides details on the conference call, forward-looking statements, non-GAAP financial measures, and investor/media contacts [Conference Call Details](index=2&type=section&id=3.1%20Conference%20Call%20Details) Janus International Group hosted a conference call and webcast on August 7, 2025, to discuss its second-quarter results, with details provided for live access and archived replay - Conference call and webcast held on Thursday, August 7, 2025, at 10:00 a.m. Eastern Time[7](index=7&type=chunk) - Live webcast and archived replay available on the Investors section of the Company's website[7](index=7&type=chunk) [Forward-Looking Statements](index=2&type=section&id=3.2%20Forward-Looking%20Statements) This section outlines the nature of forward-looking statements, including the 2025 financial outlook, detailing various risks and uncertainties that could cause actual results to differ materially from projections, and emphasizing that these statements are based on current expectations and are not guarantees of future performance - Statements regarding the **2025 financial outlook** and demand for Janus's products are considered forward-looking[8](index=8&type=chunk) - Risks include the competitive nature of the self-storage industry, litigation, tariffs, cyber incidents, and the effectiveness of the share repurchase program[8](index=8&type=chunk)[9](index=9&type=chunk) - The company disclaims any obligation to update or revise forward-looking statements, except as required by law[9](index=9&type=chunk) [Non-GAAP Financial Measures Explanation](index=3&type=section&id=3.3%20Non-GAAP%20Financial%20Measures%20Explanation) Janus International Group utilizes non-GAAP financial measures like Adjusted EBITDA, Adjusted Net Income, and Adjusted EPS to supplement GAAP information, providing additional insights into operating performance and aiding strategic decisions, while defining these measures and highlighting their limitations, emphasizing they should not be considered in isolation - Non-GAAP measures (e.g., Adjusted EBITDA, Adjusted Net Income, Adjusted EPS) are used to evaluate operating performance, generate future plans, and make strategic decisions[11](index=11&type=chunk) - Adjusted EBITDA is defined as net income excluding interest expense, income taxes, depreciation, amortization, and other non-operational, non-recurring items[11](index=11&type=chunk) - Limitations include the exclusion of non-cash expenses (depreciation/amortization), interest expense, income tax provisions, and potential incomparability with other companies' non-GAAP measures[14](index=14&type=chunk) [Investor and Media Contacts](index=12&type=section&id=3.4%20Investor%20and%20Media%20Contacts) Contact information is provided for investor relations and media inquiries at Janus International Group - Investor Contact: Sara Macioch, Senior Director, Investor Relations, IR@janusintl.com[32](index=32&type=chunk) - Media Contact: Suzanne Reitz, Vice President of Marketing, Marketing@Janusintl.com[32](index=32&type=chunk) [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) This section presents Janus International Group's unaudited consolidated statements of operations, balance sheets, and cash flows for the reported periods [Consolidated Statements of Operations and Comprehensive Income](index=5&type=section&id=4.1%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income) For the three months ended June 28, 2025, total revenues decreased by 8.2% year-over-year, leading to a 25.0% decrease in net income, while for the six months ended June 28, 2025, total revenues decreased by 12.8% and net income decreased by 46.0% compared to the prior year period Consolidated Statements of Operations (Unaudited) | Metric | Three Months Ended June 28, 2025 (million) | Three Months Ended June 29, 2024 (million) | Six Months Ended June 28, 2025 (million) | Six Months Ended June 29, 2024 (million) | | :------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Total Revenues | $228.1 | $248.4 | $438.6 | $502.9 | | Gross Profit | $93.2 | $109.0 | $175.1 | $219.4 | | Income From Operations | $36.0 | $51.6 | $61.3 | $107.1 | | Net Income | $20.7 | $27.6 | $31.5 | $58.3 | | Diluted EPS | $0.15 | $0.19 | $0.22 | $0.40 | - Product revenues decreased by **13.5%** for the three months and **18.2%** for the six months ended June 28, 2025, while service revenues increased by **17.4%** and **14.9%** respectively[16](index=16&type=chunk) [Consolidated Balance Sheets](index=6&type=section&id=4.2%20Consolidated%20Balance%20Sheets) As of June 28, 2025, Janus International Group reported a slight increase in total assets and stockholders' equity compared to December 28, 2024, driven by higher cash and contract assets, while total liabilities decreased Consolidated Balance Sheets (Unaudited) | Metric | June 28, 2025 (million) | December 28, 2024 (million) | | :-------------------------- | :------------ | :---------------- | | Cash and cash equivalents | $173.6 | $149.3 | | Total Current Assets | $397.8 | $385.5 | | Total Assets | $1,302.5 | $1,301.3 | | Total Current Liabilities | $152.4 | $136.8 | | Long-term debt, net | $543.2 | $583.2 | | Total Liabilities | $758.7 | $782.5 | | Total Stockholders' Equity | $543.8 | $518.8 | - Accounts receivable decreased from **$136.5 million** to **$114.4 million**, while contract assets increased from **$23.2 million** to **$28.9 million**[17](index=17&type=chunk) [Consolidated Statements of Cash Flows](index=7&type=section&id=4.3%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 28, 2025, net cash provided by operating activities significantly increased to **$99.7 million** from **$59.6 million** in the prior year, while cash used in investing activities decreased due to no major acquisitions, and cash used in financing activities increased, primarily due to higher principal payments on long-term debt and common stock repurchases Consolidated Statements of Cash Flows (Unaudited) | Cash Flow Activity | Six Months Ended June 28, 2025 (million) | Six Months Ended June 29, 2024 (million) | | :--------------------------------- | :----------------------------- | :----------------------------- | | Net cash provided by operating activities | $99.7 | $59.6 | | Net cash used in investing activities | ($13.2) | ($70.4) | | Net cash used in financing activities | ($62.8) | ($50.7) | | Net increase (decrease) in cash | $24.3 | ($61.6) | | Cash, end of period | $173.6 | $110.1 | - Principal payments on long-term debt increased to **$43.0 million** from **$23.4 million** year-over-year[18](index=18&type=chunk) - Repurchase of common stock amounted to **$15.0 million** for the six months ended June 28, 2025[18](index=18&type=chunk) [Supplemental Financial Data and Reconciliations](index=8&type=section&id=Supplemental%20Financial%20Data%20and%20Reconciliations) This section provides detailed financial data by sales channel and reconciliations of non-GAAP financial measures to their most directly comparable GAAP measures [Revenue by Sales Channel](index=8&type=section&id=5.1%20Revenue%20by%20Sales%20Channel) Janus International Group experienced a significant decline in Self-storage revenue for both the three and six months ended June 28, 2025, while Commercial and Other revenues showed growth, partially offsetting the decline Revenue by Sales Channel (Three Months Ended) | Sales Channel | June 28, 2025 (million) | % of Total Sales | June 29, 2024 (million) | % of Total Sales | Change ($ million) | Change (%) | | :------------------------ | :---------------------- | :--------------- | :---------------------- | :--------------- | :----------------- | :--------- | | Self-storage - new construction | $93.9 | 41.2% | $110.7 | 44.6% | ($16.8) | (15.2)% | | Self-storage - R3 | $52.9 | 23.2% | $61.5 | 24.8% | ($8.6) | (14.0)% | | Total self-storage | $146.8 | 64.4% | $172.2 | 69.3% | ($25.4) | (14.8)% | | Commercial and other | $81.3 | 35.6% | $76.2 | 30.7% | $5.1 | 6.7% | | Total revenues | $228.1 | 100.0% | $248.4 | 100.0% | ($20.3) | (8.2)% | Revenue by Sales Channel (Six Months Ended) | Sales Channel | June 28, 2025 (million) | % of Total Sales | June 29, 2024 (million) | % of Total Sales | Change ($ million) | Change (%) | | :------------------------ | :---------------------- | :--------------- | :---------------------- | :--------------- | :----------------- | :--------- | | Total self-storage | $290.3 | 66.2% | $359.4 | 71.5% | ($69.1) | (19.2)% | | Commercial and other | $148.3 | 33.8% | $143.5 | 28.5% | $4.8 | 3.3% | | Total revenues | $438.6 | 100.0% | $502.9 | 100.0% | ($64.3) | (12.8)% | - Inorganic revenue in the Commercial and Other sales channel totaled **$3.8 million** for Q2 2025, reflecting a partial quarter contribution from the TMC acquisition in May 2024[4](index=4&type=chunk) [Reconciliation of Net Income to EBITDA and Adjusted EBITDA](index=9&type=section&id=5.2%20Reconciliation%20of%20Net%20Income%20to%20EBITDA%20and%20Adjusted%20EBITDA) The reconciliation shows a decrease in both EBITDA and Adjusted EBITDA for the three and six months ended June 28, 2025, compared to the prior year, with key adjustments including restructuring charges and acquisition expenses, and a notable decrease in loss on extinguishment and modification of debt Reconciliation of Net Income to EBITDA and Adjusted EBITDA (Unaudited) | Metric | Three Months Ended June 28, 2025 (million) | Three Months Ended June 29, 2024 (million) | Six Months Ended June 28, 2025 (million) | Six Months Ended June 29, 2024 (million) | | :------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net income | $20.7 | $27.6 | $31.5 | $58.3 | | EBITDA* | $47.4 | $61.1 | $84.2 | $127.0 | | Adjusted EBITDA* | $49.0 | $64.5 | $87.4 | $130.8 | - Adjustments for Q2 2025 included **$0.8 million** in restructuring charges and **$0.8 million** in acquisition expenses[20](index=20&type=chunk) - Loss on extinguishment and modification of debt was **$0** for Q2 2025, down from **$1.7 million** in Q2 2024[20](index=20&type=chunk) [Reconciliation of Net Income to Adjusted Net Income](index=10&type=section&id=5.3%20Reconciliation%20of%20Net%20Income%20to%20Adjusted%20Net%20Income) This reconciliation details the adjustments made to GAAP Net Income to arrive at non-GAAP Adjusted Net Income, including the tax effect of these adjustments, showing a decrease in Adjusted Net Income for both the three and six months ended June 28, 2025, compared to the prior year Reconciliation of Net Income to Adjusted Net Income (Unaudited) | Metric | Three Months Ended June 28, 2025 (million) | Three Months Ended June 29, 2024 (million) | Six Months Ended June 28, 2025 (million) | Six Months Ended June 29, 2024 (million) | | :------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net income | $20.7 | $27.6 | $31.5 | $58.3 | | Net Income Adjustments | $1.6 | $3.4 | $3.2 | $3.8 | | Amortization | $8.2 | $8.0 | $16.5 | $15.5 | | Tax Effect on Net Income Adjustments | ($2.3) | ($2.9) | ($5.1) | ($4.9) | | Non-GAAP Adjusted Net Income | $28.2 | $36.1 | $46.1 | $72.7 | - Effective tax rates used for the three months ended June 28, 2025, and June 29, 2024, were **23.6%** and **25.6%**, respectively[25](index=25&type=chunk) [Adjusted EPS](index=10&type=section&id=5.4%20Adjusted%20EPS) Both GAAP and non-GAAP Adjusted EPS decreased for the three and six months ended June 28, 2025, reflecting the lower net income and adjusted net income compared to the prior year Adjusted EPS (Unaudited) | Metric | Three Months Ended June 28, 2025 | Three Months Ended June 29, 2024 | Six Months Ended June 28, 2025 | Six Months Ended June 29, 2024 | | :------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | GAAP Basic EPS | $0.15 | $0.19 | $0.23 | $0.40 | | GAAP Diluted EPS | $0.15 | $0.19 | $0.22 | $0.40 | | Non-GAAP Adjusted Basic EPS* | $0.20 | $0.25 | $0.33 | $0.50 | | Non-GAAP Adjusted Diluted EPS* | $0.20 | $0.25 | $0.33 | $0.50 | - Weighted average diluted shares outstanding decreased from **146,435,123** in Q2 2024 to **140,004,090** in Q2 2025[27](index=27&type=chunk) [Free Cash Flow Conversion](index=11&type=section&id=5.5%20Free%20Cash%20Flow%20Conversion) Janus International Group demonstrated strong Free Cash Flow Conversion for the six months and trailing twelve months ended June 28, 2025, significantly increasing from the prior year periods, indicating improved cash generation relative to adjusted net income Free Cash Flow Conversion (Unaudited) | Metric | Six Months Ended June 28, 2025 (million) | Six Months Ended June 29, 2024 (million) | Trailing Twelve Months Ended June 28, 2025 (million) | Trailing Twelve Months Ended June 29, 2024 (million) | | :----------------------------------------- | :----------------------------- | :----------------------------- | :----------------------------------------- | :----------------------------------------- | | Cash Flow from Operating Activities | $99.7 | $59.6 | $194.1 | $178.2 | | Free Cash Flow* | $86.5 | $49.3 | $171.1 | $158.5 | | Non-GAAP Adjusted Net Income* | $46.1 | $72.7 | $81.2 | $158.8 | | Free Cash Flow Conversion of Non-GAAP Adjusted Net Income* | 188% | 68% | 211% | 100% | - Purchases of property, plant and equipment increased to **$13.2 million** for the six months ended June 28, 2025, from **$10.3 million** in the prior year[28](index=28&type=chunk) [Non-GAAP Net Leverage Ratio](index=11&type=section&id=5.6%20Non-GAAP%20Net%20Leverage%20Ratio) The Non-GAAP Net Leverage Ratio for Janus International Group increased slightly to **2.3x** as of June 28, 2025, from **2.2x** at December 28, 2024, despite a reduction in Net Debt, primarily due to a decrease in trailing twelve-month Adjusted EBITDA Non-GAAP Net Leverage Ratio (Unaudited) | Metric | June 28, 2025 (million) | December 28, 2024 (million) | | :-------------------------------------- | :------------ | :---------------- | | Note payable - First Lien | $555.5 | $598.5 | | Less: Cash | $173.6 | $149.3 | | Net Debt* | $381.9 | $449.2 | | Adjusted EBITDA (Trailing Twelve Month periods ended)* | $165.1 | $208.5 | | Non-GAAP Net Leverage Ratio* | 2.3 | 2.2 | - Trailing Twelve months Adjusted EBITDA decreased from **$208.5 million** at December 28, 2024, to **$165.1 million** at June 28, 2025[30](index=30&type=chunk)[32](index=32&type=chunk)

Group 1 - Janus International Group, Inc. (JBI) has shown strong year-to-date performance, returning about 22.3% since the start of the calendar year, significantly outperforming the average gain of 2.5% in the Construction sector [4] - The Zacks Consensus Estimate for JBI's full-year earnings has increased by 35.4% over the past quarter, indicating improved analyst sentiment and earnings outlook [4] - JBI currently holds a Zacks Rank of 2 (Buy), suggesting it has characteristics that may lead to outperformance in the market over the next one to three months [3][4] Group 2 - Janus International Group, Inc. is part of the Building Products - Miscellaneous industry, which has seen an average loss of 3.7% this year, highlighting JBI's relative strength in performance [6] - In comparison, MasTec (MTZ), another Construction stock, has also outperformed the sector with a year-to-date increase of 26.3% and holds a Zacks Rank of 2 (Buy) [5][7] - The Building Products - Heavy Construction industry, to which MasTec belongs, is currently ranked 2 and has gained 17.2% year to date, indicating a strong performance within that segment [7]

Group 1 - Aecom Technology (ACM) is currently performing better than the average Construction sector, with a year-to-date return of approximately 2.8% compared to the sector's average return of -4.4% [4] - The Zacks Rank for Aecom Technology is 2 (Buy), indicating a positive earnings outlook, with the consensus estimate for full-year earnings having increased by 1% over the past quarter [3] - Aecom Technology is part of the Engineering - R and D Services industry, which has an average year-to-date loss of 1.2%, further highlighting ACM's relative performance [6] Group 2 - Janus International Group, Inc. (JBI) has also outperformed the Construction sector with a year-to-date return of 11.2% [4] - The consensus EPS estimate for Janus International Group has increased by 150% over the past three months, and it also holds a Zacks Rank of 2 (Buy) [5] - Janus International Group belongs to the Building Products - Miscellaneous industry, which has experienced a year-to-date decline of 10.9% [7]

Group 1 - Janus International Group, Inc. (JBI) shares have increased by 18.5% over the past four weeks, closing at $8.25, with a mean price target of $10.90 indicating a potential upside of 32.1% [1] - The mean estimate consists of five short-term price targets with a standard deviation of $2.97, where the lowest estimate is $7.50 (indicating a 9.1% decline) and the highest estimate is $14 (indicating a 69.7% increase) [2] - Analysts have shown strong agreement in revising earnings estimates higher, with the Zacks Consensus Estimate for the current year increasing by 35.4% over the last 30 days [11][12] Group 2 - JBI currently holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] - The consensus price target, while not entirely reliable, suggests a positive direction for JBI's stock price movement [13] - Analysts' price targets can often be overly optimistic due to business incentives, which may lead to inflated estimates [8]

Core Viewpoint - Janus International Group, Inc. (JBI) shows a significant improvement in earnings outlook, making it an attractive investment option as analysts continue to raise earnings estimates for the company [1][3]. Earnings Estimate Revisions - The trend of rising earnings estimate revisions reflects growing analyst optimism regarding the company's earnings prospects, which is expected to positively impact its stock price [2]. - For the current quarter, the earnings estimate is $0.15 per share, representing a decrease of 28.57% from the previous year, but the Zacks Consensus Estimate has increased by 25% over the last 30 days due to one upward revision [5]. - For the full year, the earnings estimate is $0.65 per share, indicating a 14.04% increase from the previous year, with a notable 35.42% increase in the consensus estimate over the past month [6][7]. Zacks Rank and Performance - Janus International Group currently holds a Zacks Rank 2 (Buy), indicating strong agreement among analysts in revising earnings estimates upward, which historically correlates with stock performance [8]. - Stocks with Zacks Rank 1 (Strong Buy) and 2 (Buy) have shown significant outperformance compared to the S&P 500, with Zacks 1 stocks averaging a 25% annual return since 2008 [3][8]. Stock Performance - The stock has gained 35.6% over the past four weeks, driven by solid estimate revisions, suggesting strong earnings growth prospects that may lead to further stock price increases [9].

Core Viewpoint - Janus International Group, Inc. (JBI) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook driven by rising earnings estimates, which significantly influence stock prices [1][4]. Earnings Estimates and Stock Performance - The Zacks rating system is based on the changing earnings picture of a company, specifically tracking the Zacks Consensus Estimate for EPS from sell-side analysts [2]. - A strong correlation exists between earnings estimate revisions and near-term stock price movements, making the Zacks rating system valuable for investors [3][5]. - For Janus International Group, the recent increase in earnings estimates suggests an improvement in the company's underlying business, likely leading to higher stock prices [6]. Earnings Estimate Revisions - Janus International Group is projected to earn $0.65 per share for the fiscal year ending December 2025, reflecting a year-over-year increase of 14% [9]. - Over the past three months, the Zacks Consensus Estimate for Janus International Group has surged by 150%, indicating strong upward revisions by analysts [9]. Zacks Rating System - The Zacks Rank stock-rating system categorizes stocks into five groups based on earnings estimates, with a proven track record of Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [8]. - The upgrade of Janus International Group to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [11].

Core Viewpoint - Janus International Group, Inc. (JBI) has shown a significant price increase of 35.6% over the past four weeks, with a mean price target of $10.80 indicating a potential upside of 27.1% from the current price of $8.50 [1] Price Targets and Analyst Estimates - The mean estimate consists of five short-term price targets with a standard deviation of $3.11, indicating variability among analysts; the lowest estimate is $7 (17.7% decline), while the highest is $14 (64.7% increase) [2] - A low standard deviation suggests a high degree of agreement among analysts regarding the stock's price movement direction, although it does not guarantee the stock will reach the average target [9] Earnings Estimates and Market Sentiment - Analysts are optimistic about JBI's earnings prospects, as indicated by a positive trend in earnings estimate revisions, which has shown a strong correlation with near-term stock price movements [11] - The Zacks Consensus Estimate for the current year has increased by 35.4% over the past month, with no negative revisions reported [12] - JBI holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates, suggesting a strong potential for upside in the near term [13]

Financial Data and Key Metrics Changes - For Q1 2025, the company reported revenue of $210.5 million, a decrease of 17.3% compared to Q1 2024 [8][12] - Adjusted EBITDA for the quarter was $38.4 million, down 42.1% year-over-year, resulting in an adjusted EBITDA margin of 18.2%, a decrease of approximately 790 basis points from the prior year [15] - Adjusted net income was $17.7 million, a decrease of 51.6% from the previous year, with adjusted EPS at $0.13 [16] Business Line Data and Key Metrics Changes - The self-storage segment saw a revenue decline of 23.1%, attributed to decreased volume due to economic uncertainty [8][12] - New construction revenues decreased by 25.5%, primarily due to project delays linked to high interest rates [12] - The R3 segment experienced a revenue increase of 19.3%, driven by door replacement and renovation activities, despite a nearly 50% decrease in retail big box conversions [12][13] Market Data and Key Metrics Changes - The international segment's revenues increased by $6.5 million, or 44.2%, compared to the prior year, due to normalizing market conditions following a recession in the UK [13] - The commercial and other sales channel experienced a 1% decline, primarily due to softness in the rolling sheet door market, partially offset by contributions from the TMC acquisition [8][12] Company Strategy and Development Direction - The company is focused on operational excellence and disciplined capital allocation while investing for long-term success [6][7] - A cost reduction plan is in place, expected to yield annual pre-tax savings of $10 million to $12 million by the end of 2025 [9][15] - The company anticipates a shift in customer focus towards optimizing and upgrading existing properties rather than new construction [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the underlying demand for self-storage solutions despite current market volatility [9][11] - The company expects to see strengthening results in the latter half of 2025, with a reaffirmation of full-year revenue guidance between $860 million and $890 million [17][18] - Management noted that the current tariff environment is manageable, with estimated impacts in the low single-digit millions for 2025 [10][11] Other Important Information - The company generated cash from operating activities of $48.3 million and free cash flow of $41.9 million in the quarter, representing a free cash flow conversion of 170% of adjusted net income [16] - The company repurchased 600,000 shares for $5.1 million during the quarter, with $16.3 million remaining on its share repurchase authorization [10][17] Q&A Session Summary Question: What is the latest on project delays and order activity in the pipeline? - Management noted that projects are moving through the pipeline, with steady small growth in both backlog and pipeline [25][27] Question: How is pricing expected to change given steel inflation and tariffs? - Management indicated that pricing would blend into the year, with Q1 not as impacted due to existing inventory [28][29] Question: What is the expected cadence of cost savings from structural reductions? - The company expects to reach a full run rate for cost savings by the end of Q2, with various initiatives in place to drive these savings [52] Question: How is the R3 segment performing and what are the expectations for retail conversions? - Management observed incremental increases in R3 projects and expects retail conversions to stabilize [39][40] Question: Are there signs of stabilization in the commercial segment? - Management confirmed stabilization in the commercial segment, with growth in certain product lines [46] Question: Are there more project starts moving forward or cancellations? - Management reported an increase in project starts, with no unusual cancellations noted [48]

Financial Data and Key Metrics Changes - For Q1 2025, the company reported revenue of $210.5 million, a decrease of 17.3% compared to Q1 2024 [8][13] - Adjusted EBITDA for the quarter was $38.4 million, down 42.1% year-over-year, resulting in an adjusted EBITDA margin of 18.2%, a decrease of approximately 790 basis points from the prior year [15] - Adjusted net income was $17.7 million, a decrease of 51.6% from the previous year, with adjusted EPS at $0.13 [16] Business Line Data and Key Metrics Changes - The self-storage segment saw a revenue decline of 23.1%, attributed to reduced volume due to economic uncertainty [8][13] - New construction revenues decreased by 25.5%, primarily due to project delays linked to high interest rates [13] - The R3 segment experienced a revenue increase of 19.3%, although retail big box conversions and facility expansions were down nearly 50% [13][15] - The international segment's revenues increased by $6.5 million or 44.2% compared to the prior year, benefiting from normalizing market conditions [14] Market Data and Key Metrics Changes - The company noted ongoing macroeconomic volatility impacting customer liquidity and capital deployment [6][9] - The backlog and pipeline showed growth despite market uncertainty, indicating stability in demand for self-storage solutions [7][20] - Tariff impacts are expected to be low single-digit millions for 2025, with potential ongoing annual impacts estimated at $10 million to $12 million beyond 2025 [11][12] Company Strategy and Development Direction - The company is focused on operational excellence and disciplined capital allocation while investing for long-term success [6][7] - A cost reduction plan is in place, expected to yield annual pre-tax savings of approximately $10 million to $12 million by the end of 2025 [10][15] - The company anticipates a shift in customer focus towards optimizing and upgrading existing properties rather than new construction [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term fundamentals of the self-storage industry, citing strong underlying demand drivers [12][20] - The company expects results to strengthen in the latter half of 2025, with an increase in R3 project activity [18][19] - Management acknowledged the challenges posed by high interest rates but noted that project timelines are beginning to normalize [26][49] Other Important Information - The company generated cash from operating activities of $48.3 million and free cash flow of $41.9 million in the quarter, representing a free cash flow conversion of 170% of adjusted net income [16][17] - The company repurchased 600,000 shares for $5.1 million during the quarter, with $16.3 million remaining on its share repurchase authorization [17][18] Q&A Session Summary Question: What is the latest on project delays and order activity in the pipeline? - Management noted that projects are moving through the pipeline, with steady growth in both orders and backlog since the beginning of the year [26][28] Question: How is pricing being affected by tariffs and steel inflation? - Management indicated that pricing impacts are expected to blend into the year, with Q1 not as affected due to existing inventory [29][30] Question: What is the expected cadence of cost savings from structural reductions? - Management expects to reach a full run rate for cost savings by the end of Q2, with various initiatives in place to drive these savings [53][54] Question: How is the R3 segment performing and what are the expectations for retail conversions? - Management observed an increase in R3 project activity and expects steady state performance in retail conversions moving forward [40][41] Question: Are there signs of stabilization in the commercial segment? - Management confirmed stabilization in the commercial segment, with growth in certain product lines, although the commercial sheet door sector remains depressed [47]