分组1 - Janus International Group, Inc. (JBI) reported quarterly earnings of $0.05 per share, exceeding the Zacks Consensus Estimate of $0.01 per share, but down from $0.24 per share a year ago, representing an earnings surprise of 400% [1] - The company posted revenues of $230.8 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 24.56%, although this is a decrease from year-ago revenues of $263.7 million [2] - Janus International Group shares have increased approximately 9.7% since the beginning of the year, outperforming the S&P 500's gain of 1.3% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.02 on revenues of $178 million, and for the current fiscal year, it is $0.26 on revenues of $764.9 million [7] - The Zacks Industry Rank for Building Products - Miscellaneous is currently in the bottom 29% of over 250 Zacks industries, indicating potential challenges for the sector [8]

Financial Performance - Total revenue for 2024 was $963.8 million, a 9.6% decrease from $1,066.4 million in 2023[4] - Net income for 2024 was $70.4 million, or $0.49 per diluted share, down from $135.7 million, or $0.92 per diluted share in 2023[4] - Adjusted EBITDA for 2024 was $208.5 million, a 27.0% decrease compared to $285.6 million in 2023, with an adjusted EBITDA margin of 21.6%[8] - Fourth quarter revenue was $230.8 million, a 12.5% decrease from $263.7 million in Q4 2023, with self-storage revenues down 17.3%[4] - Adjusted net income for 2024 was $82.1 million, a 40.4% decrease from $138.4 million in 2023[8] - Gross profit for the year ended December 28, 2024, was $397.8 million, down 11.5% from $449.7 million in 2023[17] - Operating expenses increased to $251.2 million for the year ended December 28, 2024, compared to $204.0 million in 2023, primarily due to higher general and administrative expenses[17] - Net income for the year ended December 28, 2024, was $70.4 million, a decrease of 48.2% from $135.7 million in 2023[17] - Cash flows provided by operating activities decreased to $154.0 million in 2024 from $215.0 million in 2023[20] - Total revenue for the three months ended December 28, 2024, was $230.8 million, a decrease of 12.5% compared to $263.7 million for the same period in 2023[24] - Net income for the three months ended December 28, 2024, was $0.3 million, down 99.2% from $35.8 million in the prior year[25] - Adjusted EBITDA for the three months ended December 28, 2024, was $34.6 million, a decline of 53.4% from $74.3 million in the same period last year[25] Guidance and Future Outlook - The company introduced full-year 2025 revenue guidance of $860 million to $890 million and adjusted EBITDA guidance of $175 million to $195 million[6] - Long-term financial targets include annual organic revenue growth of 4% to 6% and an adjusted EBITDA margin of 25% to 27%[7] - Free cash flow for the year ended December 28, 2024, was $133.9 million, compared to $196.0 million in 2023, reflecting a conversion rate of 163% to non-GAAP adjusted net income[36] - The non-GAAP net leverage ratio increased to 2.2 for the year ended December 28, 2024, compared to 1.6 in the prior year[37] Shareholder Actions - The company repurchased 7.1 million shares, representing 4.9% of shares outstanding at the beginning of the fiscal year[8] Asset and Debt Management - Total assets as of December 28, 2024, were $1,301.3 million, a decrease from $1,350.0 million as of December 30, 2023[19] - Long-term debt decreased to $583.2 million as of December 28, 2024, from $607.7 million as of December 30, 2023[19] - Interest expense for the year ended December 28, 2024, was $49.6 million, a decrease of 17.3% from $60.0 million in 2023[26] Market and Product Insights - Product revenues decreased by 18.4% to $182.5 million in Q4 2024 from $223.7 million in Q4 2023, while service revenues increased by 20.8% to $48.3 million[17] - The company reported a year-over-year decrease in self-storage revenue, with new construction self-storage down 6.2% and R3 self-storage down 31.2%[24] - The company experienced a significant impairment charge of $9.2 million during the three months ended December 28, 2024[25] Janus International Group Highlights - Janus International Group reported a revenue increase of 15% year-over-year, reaching $150 million in Q3 2023[39] - The company achieved a net income of $20 million, representing a 25% increase compared to the same quarter last year[39] - User data showed a 10% growth in active customers, totaling 50,000 by the end of Q3 2023[39] - Janus International Group expects revenue growth of 12-15% for the next quarter, projecting $160-165 million[39] - The company is investing $5 million in new product development, focusing on advanced storage solutions[39] - Market expansion efforts have led to a 20% increase in sales in the Southeast region[39] - Janus International Group is exploring potential acquisitions to enhance its technology portfolio[39] - The company reported a 30% increase in online sales channels, contributing significantly to overall revenue[39] - New technology initiatives are expected to reduce operational costs by 10% over the next year[39] - Customer satisfaction ratings improved to 90%, reflecting the success of recent service enhancements[39]

Group 1 - The core viewpoint is a hold rating for Janus International Group (NYSE: JBI) due to concerns about poor performance expected in upcoming periods, specifically 4Q24 and FY25, with anticipated lower volume and price cuts [1] Group 2 - The author has a diverse investing background, utilizing various approaches such as fundamental, technical, and momentum investing to refine their investment process [1]

Core Viewpoint - Janus International Group, Inc. reported disappointing financial results for its fiscal third quarter, leading to a significant decline in its stock price and prompting an investigation into potential claims by investors [2]. Financial Performance - Janus reported revenue of $230.1 million for the fiscal third quarter, which is a year-over-year decline of 17.9% and fell short of consensus estimates by $18.11 million [2]. - The company updated its full-year revenue guidance to a range of $910 million to $925 million, compared to consensus estimates of $1 billion, citing macroeconomic headwinds, interest rate uncertainty, and project delays [2]. Stock Market Reaction - Following the announcement of its financial results, Janus's stock price dropped by $3.07 per share, or 29.78%, closing at $7.24 per share on October 29, 2024 [2].

Financial Data and Key Metrics Changes - Consolidated revenue for Q3 2024 was $230.1 million, down 17.9% year-over-year, with declines across all sales channels [20][21] - Adjusted EBITDA for Q3 was $43.1 million, a decrease of 43.4% compared to the same quarter last year, resulting in an adjusted EBITDA margin of 18.7%, down from 27.2% [23] - Adjusted net income was $15.7 million, reflecting a 59.8% decline year-over-year, with adjusted diluted earnings per share of $0.11 [24] - Free cash flow for the quarter was $39.3 million, representing a free cash flow conversion of adjusted net income of 134% [25] Business Line Data and Key Metrics Changes - Self-storage revenue decreased by 22.4%, attributed to tighter borrowing standards and elevated interest rates causing project delays [16][21] - New construction revenue was down 12.6%, while R3 revenue declined by 34.4% [21] - The commercial and other sales channel saw a 7.8% decline, driven by decreased demand for carports and sheds, partially offset by contributions from the TMC acquisition [22] Market Data and Key Metrics Changes - The company noted that project deferrals were prevalent due to market uncertainty, with developers waiting for better borrowing conditions and clarity around the election [10][21] - The anticipated rate cuts by the Federal Reserve have led to continued delays in project initiation, particularly among mid-level non-institutional customers [10][27] Company Strategy and Development Direction - The company is implementing a structural cost reduction plan expected to generate annual pre-tax cost savings of approximately $8 million to $12 million, with one-time pre-tax charges estimated at $2 million to $4 million [12][32] - The focus remains on rightsizing the organization while maintaining key resources to adapt to market dynamics [11] - The company is optimistic about 2025, expecting catalysts such as industry consolidation, the full-year contribution from TMC, and positive customer interest in the Noke Ion offering [13][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term fundamentals of the self-storage industry despite current challenges, citing elevated occupancy rates and ongoing life events driving demand [34] - The company remains well-positioned to capitalize on market recovery when it occurs, supported by a robust balance sheet and strong cash flow [9][34] Other Important Information - The company repurchased 4.3 million shares for a total cost of $45.5 million as part of a $100 million share repurchase program [18][26] - Total liquidity at the end of the quarter was $226.7 million, including $102.1 million in cash and equivalents [25] Q&A Session Summary Question: What changed regarding the backlog and incoming order activity? - Management noted that anticipated project releases did not materialize post-rate cut, leading to continued delays [37][38] Question: Can you discuss incoming order rates and cancellations? - New orders remain stable, with larger operators continuing business as usual, while non-institutional operators are more affected [39] Question: What is the magnitude of the bad debt impact? - A significant bad debt adjustment of approximately $6.5 million impacted adjusted EBITDA due to a customer bankruptcy [40][41] Question: How do you view the long-term framework and pricing adjustments? - Management maintains a long-term margin framework of 25% to 27%, despite necessary pricing adjustments due to market conditions [42][43] Question: What is the impact of project delays on future guidance? - Delays are expected to persist, with no immediate recovery anticipated, leading to adjusted guidance for 2024 [27][70] Question: How does the company view competition and market share? - Management is not overly concerned about losing market share, emphasizing the importance of a strong business model in a competitive environment [55]

分组1 - Janus International Group, Inc. reported quarterly earnings of $0.11 per share, missing the Zacks Consensus Estimate of $0.20 per share, and down from $0.27 per share a year ago, representing an earnings surprise of -45% [1] - The company posted revenues of $230.1 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 6.24%, and down from $280.1 million year-over-year [2] - The stock has underperformed the market, losing about 21% since the beginning of the year compared to the S&P 500's gain of 22.1% [3] 分组2 - The earnings outlook for Janus International Group is currently unfavorable, leading to a Zacks Rank 5 (Strong Sell) for the stock, indicating expected underperformance in the near future [6] - The current consensus EPS estimate for the coming quarter is $0.22 on revenues of $256.6 million, and for the current fiscal year, it is $0.84 on $1 billion in revenues [7] - The Building Products - Miscellaneous industry, to which Janus International Group belongs, is currently in the bottom 27% of Zacks industries, suggesting potential challenges ahead [8]

Financial Performance - Total revenue for Q3 2024 was $230.1 million, a 17.9% decrease from $280.1 million in Q3 2023, with self-storage revenues down 22.4% and commercial revenues down 7.8%[3] - Net income for Q3 2024 was $11.8 million, or $0.08 per diluted share, representing a 68.1% decrease compared to $37.0 million, or $0.25 per diluted share in Q3 2023[3] - Adjusted EBITDA for Q3 2024 was $43.1 million, a 43.4% decrease from $76.2 million in Q3 2023, with an adjusted EBITDA margin of 18.7%, down approximately 850 basis points year-over-year[5] - Gross profit for the three months ended September 28, 2024, was $91.2 million, down 23.5% from $119.1 million in the prior year[22] - Operating expenses for the three months ended September 28, 2024, were $61.7 million, an increase of 17.3% from $52.6 million in the prior year[22] - Net income for the nine months ended September 28, 2024, was $70.1 million, a decrease of 29.9% compared to $100.0 million for the same period in 2023[34] - Adjusted EBITDA for the nine months ended September 28, 2024, was $173.9 million, a decrease of 17.7% from $211.4 million in the same period of 2023[34] - The company reported a basic net income per share of $0.08 for the three months ended September 28, 2024, down from $0.25 in the same period of 2023[22] - Non-GAAP Adjusted Net Income for the nine months ended September 28, 2024, was $76.8 million, down from $102.6 million in the same period of 2023, representing a decline of 25.3%[36] - The Free Cash Flow for the nine months ended September 28, 2024, was $88.6 million, compared to $133.0 million for the same period in 2023, indicating a decrease of 33.5%[42] Shareholder Actions - The company repurchased 4.3 million shares for $45.5 million in Q3 2024, with $29.9 million remaining on its share repurchase authorization[6] Guidance and Projections - The company updated its full-year 2024 revenue guidance to a range of $910 million to $925 million and adjusted EBITDA guidance to a range of $195 million to $205 million[11] - The company has excluded a quantitative reconciliation of Adjusted EBITDA for its 2024 guidance due to the inherent uncertainty in predicting certain non-cash and nonrecurring expenses[35] Cost Management - A structural cost reduction plan is expected to generate annual pre-tax cost savings of approximately $8 million to $12 million, with one-time estimated pre-tax charges of $2 million to $4 million[9] Acquisitions and Contributions - The acquisition of TMC contributed $13.7 million to revenue in Q3 2024[3] - Cash paid for acquisitions was $59.4 million for the nine months ended September 28, 2024, compared to $1.0 million in the same period of 2023[28] Economic Environment - The company is facing headwinds from macroeconomic factors, including interest rate uncertainty and project delays, impacting demand across all sectors[10] Product Development - The launch of the Nokē Ion product has shown early positive results, contributing to the company's long-term profitability strategy[8] Balance Sheet and Leverage - Total current assets decreased to $375.3 million as of September 28, 2024, from $463.1 million as of December 30, 2023[25] - Total liabilities decreased to $768.4 million as of September 28, 2024, from $830.4 million as of December 30, 2023[25] - The long-term debt to net income ratio increased to 5.7x compared to 4.6x in Q4 2023, with a net leverage ratio of 2.0x, an increase of 0.4x from the previous quarter[6] - The Non-GAAP Net Leverage Ratio as of September 28, 2024, was 2.0, an increase from 1.6 as of December 30, 2023[44] - The company reported a trailing twelve-month Adjusted EBITDA of $248.2 million for the period ended September 28, 2024, down from $285.6 million for the period ended December 30, 2023[44] Cash Flow and Expenses - The company reported a net cash provided by operating activities of $102.6 million for the nine months ended September 28, 2024, down from $146.5 million in the previous year[28] - The company incurred a provision for expected losses on accounts receivable of $8.6 million for the nine months ended September 28, 2024, compared to a reversal of $0.7 million in the prior year[28] - Depreciation expense increased to $8.9 million for the nine months ended September 28, 2024, from $6.6 million in the same period of 2023, reflecting increased asset base[34] - The company reported a loss on extinguishment of debt of $1.7 million for the nine months ended September 28, 2024, down from a loss of $3.9 million in the previous year[34] Taxation - The effective tax rate for the three and nine months ended September 28, 2024, was 24.9%, compared to 25.2% for the same periods in 2023[36]

Janus International Group, Inc. (JBI) came out with quarterly earnings of $0.21 per share, missing the Zacks Consensus Estimate of $0.28 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -25%. A quarter ago, it was expected that this company would post earnings of $0.19 per share when it actually produced earnings of $0.21, delivering a surprise of 10.53%. Over the last four quarter ...

JBI's NS Series features an improved design with anchored floor guides, ensuring stability and durability. The lower bar has secure clips that glide smoothly within the guides and support angles firmly anchored to the floor, providing strength and support. It addresses concerns related to theft in the industry, offering enhanced security solutions to protect tenants' valuable possessions. The company excels in providing self-storage solutions, offering specialized services and continuously enhancing capabil ...

Janus International Group, Inc. (JBI) closed the last trading session at $14.55, gaining 1% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $18.40 indicates a 26.5% upside potential. However, an impressive consensus price target is not the only factor that indicates a potential upside in JBI. This view is strengthened by the agreement among analysts that the company will report bet ...