Financial Data and Key Metrics Changes - The company reported consolidated revenue of $280.1 million for Q3 2023, an increase of approximately 6.7% compared to the same period last year, driven primarily by new construction which was up 40.3% [100][106] - Adjusted net income for Q3 2023 was $39 million, reflecting a 20.3% increase from Q3 2022, with adjusted diluted earnings per share rising to $0.27 from $0.22 [12][100] - Adjusted EBITDA for the quarter was $76.2 million, up 20.4% year-over-year, resulting in an adjusted EBITDA margin of 27.2%, an improvement of 310 basis points [84][130] Business Line Data and Key Metrics Changes - The R3 segment experienced a 1.9% decline in Q3 2023, primarily due to project timing and a strong Q3 2022, but year-to-date, R3 is up 9.6% [11] - New construction was the primary driver of revenue growth, significantly outperforming other segments [100][106] - Commercial and other revenues declined by 11.1% year-over-year, attributed to difficult comparisons with a particularly strong Q3 2022 [100][104] Market Data and Key Metrics Changes - Self-storage occupancy rates remain above mid-cycle levels, indicating strong demand for new capacity from facility owners [5] - The company noted that the fundamentals driving customer investment decisions remain strong despite economic uncertainties [5][81] Company Strategy and Development Direction - The company is focused on maintaining a secure balance sheet while preserving capital for potential M&A opportunities [8] - The strategic emphasis on M&A is highlighted, with management indicating a willingness to leverage up for significant strategic deals [20][112] - The company is expanding its production capacity in Europe and the West Coast to support growth and enhance its suite of offerings [89] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong backlog and visibility into end markets, raising the full-year 2023 outlook for revenue and adjusted EBITDA [106][90] - The company anticipates continued growth and margin improvement into 2024, consistent with its long-term objectives [90] - Management acknowledged the challenges posed by inflation, particularly in steel prices, but remains optimistic about maintaining margins [55][130] Other Important Information - The company achieved a free cash flow conversion of 117% of adjusted net income over the past 12 months, indicating strong cash generation capabilities [8][105] - The net leverage ratio improved to 1.8 times net debt to adjusted trailing 12-month EBITDA, down from 3.3 times at the end of 2022 [13][101] Q&A Session Summary Question: How is the backlog trending and what is the pipeline for 2024? - Management has not provided specific 2024 guidance but indicated that the backlog remains strong for both new construction and R3 [18][37] Question: What are the dynamics in the new construction market? - Management noted that new construction is a long-term game, and while there may be fluctuations, the overall market remains resilient [42][81] Question: How is the competitive landscape for Nok evolving? - Management highlighted that new entrants are significantly behind in technology and integration, maintaining a strong competitive position [72][130] Question: What is the outlook for inflation and potential pricing actions? - Management indicated that while steel prices have been volatile, they are currently aligned with pricing strategies, and they will monitor costs closely [55][128]

| --- | --- | |-------|-------| | | | | | | Certain statements in this communication, including the estimated guidance provided under "2023 Financial Guidance" 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 sta ...

Anselm Wong Anselm Wong Stanley Elliott And then on the back end, look, it's -- that's ever-evolving. We will continue to refine and enhance the back end, but as you know, you've heard us talk about, we are still in the very, very early innings of this opportunity. Yes, we're happy with the growth rates, but we're certainly not satisfied in terms of what the total opportunity is and where we think the market is ultimately going long term. Great. And then the industry is seeing some larger M&A deals here rec ...

Financial Performance Highlights - Strong organic revenue growth of 9.2% across all sales channels[1] - Free cash flow generation of $42.8 million, with a TTM 2Q 2023 free cash flow conversion of Adjusted Net Income of 100%[1] - Adjusted EBITDA grew by 46.0% to $74.0 million, representing a 27.3% margin[18, 27] - Net income increased by 62.0% to $36.987 million for the three months ended July 1, 2023, compared to $22.837 million for the three months ended July 2, 2022[8] - Net income increased by 48.0% to $62.969 million for the six months ended July 1, 2023, compared to $42.541 million for the six months ended July 2, 2022[8] Guidance and Outlook - Updated full-year revenue guidance to $1.07 billion to $1.09 billion, a 5.9% increase versus 2022 at the midpoint[6] - Updated full-year Adjusted EBITDA guidance to $269.5 million to $289.5 million, a 23.2% increase versus 2022 at the midpoint[6] Capital Structure and Allocation - Paid down $35 million on the first lien term loan in the second quarter, with a year-to-date total voluntary debt paydown of $85 million[7, 26, 34] - Quarter-end net leverage ratio of 2.1x, down 1.8x from 2Q 2022, within the target range of 2.0x - 3.0x[7] Segment Performance - New Construction sales increased by 33.9%[18] - Restore, Rebuild & Replace ("R3") sales increased by 7.6%[33] - Commercial & Other sales decreased by 9.3%[1]

Great. And then lastly for me, on Nok, a nice sequential pickup. What are you learning from your customers there? In the past, I guess, youÂ've talked about maybe potential add-ons for other products, other services down the road. Does that seem to be something that is of interest to them? Or is it more just kind of making sure we have the lock system in place and rolling that out on a kind of more industry standard? And I guess one last quick one. Are you having any problems or seeing anything on the suppl ...

| --- | --- | |-------|-------| | | | | | | | | | Certain statements in this communication, including the estimated guidance provided under "2023 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 statemen ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K For the fiscal year ended December 31, 2022 (Mark One) OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number 001-04321 JANUS INTERNATIONAL GROUP, INC. (Name of Registrant as Specified In Its Charter) Delaware 86-1476200 (State ...

Janus International Group, Inc. (JBI) Q4 2022 Earnings Conference Call March 16, 2023 10:00 AM ET Corporate Participants John Rohlwing - Vice President, Investor Relations & FP&A Ramey Jackson - Chief Executive Officer Anselm Wong - Chief Financial Officer Conference Call Participants Jeff Hammond - KeyBanc Capital Markets Reuben Garner - The Benchmark Company Andrew Maser - Stifel Daniel Moore - CJS Securities Spencer Kaufman - UBS Josh Pokrzywinski - Morgan Stanley Operator Hello, and welcome to the Janus ...

Janus International Group, Inc. (NYSE:JBI) Q3 2022 Earnings Conference Call November 10, 2022 10:00 AM ET Company Participants John Rohlwing - Vice President-Investor Relations & FP&A Ramey Jackson - Chief Executive Officer Anselm Wong - Chief Financial Officer Conference Call Participants David Tarantino - KeyBanc Capital Markets Reuben Garner - The Benchmark Company Daniel Moore - CJS Securities Stanley Elliott - Stifel John Lovallo - UBS Operator Hello, and welcome to the Janus International Third Quarte ...

Q3 2022 Highlights - The company achieved a well-balanced revenue growth of 39.8%, including 35.2% organic YoY growth[10] - Commercial & Other revenue increased by 58.3%[10] - R3 (Restore, Rebuild & Replace) revenue increased by 49.1%[10] - New Construction revenue increased by 13.8%[10] - The Adjusted EBITDA margin was 24.1%, an increase of approximately 480 basis points compared to Q3 2021[10] Q3 2022 Financial Results - Revenue reached $262.5 million, a 39.8% increase[12] - Adjusted EBITDA was $63.3 million, a 74.3% increase with a 24.1% margin[12] - Adjusted Diluted EPS was $0.22[12] - Adjusted Net Income was $32.3 million[12] - Operating Cash Flow was $19.4 million and Free Cash Flow was $16.8 million[12] 2022 Outlook - The company raised its full-year revenue outlook to a range of $990 million to $1.01 billion, representing a 33.3% increase vs 2021 at the midpoint[15] - The company raised its full-year Adjusted EBITDA outlook to a range of $218 million to $225 million, representing a 49.5% increase vs 2021 at the midpoint[15] Leverage - Quarter end leverage ratio of 3.3x – a decrease of 0.6x from Q2 2022[16]