Janus International (US:JBI)2025-11-06 12:00Financial Performance - Total revenue for Q3 2025 was $219.3 million, a 4.7% decrease from $230.1 million in Q3 2024, primarily due to a 20.1% decline in Commercial and Other revenues[4] - Net income increased by 28.8% to $15.2 million, or $0.11 per diluted share, compared to $11.8 million, or $0.08 per diluted share in Q3 2024[4] - Adjusted Net Income rose by 1.3% to $22.6 million, with Adjusted EPS of $0.16, a 6.7% increase from $0.15 in Q3 2024[4] - Adjusted EBITDA for Q3 2025 was $43.6 million, a 1.2% increase from $43.1 million in Q3 2024, with an Adjusted EBITDA Margin of 19.9%, up approximately 120 basis points year-over-year[4] - Total revenues for the three months ended September 27, 2025, were $219.3 million, a decrease of 4.7% compared to $230.1 million for the same period in 2024[17] - Product revenues decreased to $174.2 million for the three months ended September 27, 2025, down from $175.9 million in the prior year, while service revenues fell to $45.1 million from $54.2 million[17] - Gross profit for the nine months ended September 27, 2025, was $260.8 million, a decline of 16.0% from $310.6 million for the same period in 2024[17] - Net income for the nine months ended September 27, 2025, was $46.7 million, down 33.5% from $70.1 million in the prior year[19] - Operating expenses for the three months ended September 27, 2025, were $56.3 million, down from $64.5 million in the same period of 2024[17] - Interest expense for the nine months ended September 27, 2025, was $28.0 million, a decrease from $38.9 million in the prior year[19] - Free Cash Flow for the nine months ended September 27, 2025, was $94.8 million, representing a conversion rate of 138% of Non-GAAP Adjusted Net Income[30] - Net Debt as of September 27, 2025, was $375.1 million, with a Non-GAAP Net Leverage Ratio of 2.3[32] - GAAP Diluted EPS for the three months ended September 27, 2025, was $0.11, compared to $0.08 for the same period in 2024[29] - Non-GAAP Adjusted Net Income for the three months ended September 27, 2025, was $22.6 million, slightly up from $22.3 million in the prior year[26] - Interest expense for the three months ended September 27, 2025, was $8.7 million, a decrease of 25.0% from $11.6 million in the same period last year[22] - The effective tax rate for the three months ended September 27, 2025, was 28.6%, compared to 21.9% for the same period in 2024[27] - Restructuring charges for the three months ended September 27, 2025, amounted to $1.1 million, a significant increase of 175.0% from $0.4 million in the prior year[22] - Acquisition expenses for the nine months ended September 27, 2025, were $2.6 million, down 23.5% from $3.4 million in the same period last year[26] Guidance and Future Outlook - For full-year 2025, the company updated its revenue guidance to a range of $870 million to $880 million and Adjusted EBITDA guidance to $164 million to $170 million[6] - The decline in Commercial and Other revenues was largely attributed to project timing in the TMC business, accounting for approximately 70% of the revenue drop[4] - The company remains confident in the fundamentals of its industry and its ability to deliver long-term value for shareholders[3] - Janus International Group continues to focus on operational excellence while investing in future growth and market leadership[3] - The company operates as a leading global manufacturer and supplier of self-storage and commercial building solutions, with a commitment to innovation and market expansion[7] Shareholder Actions - The company repurchased approximately 82,000 shares of common stock for $0.8 million, with $80.5 million remaining under its share repurchase authorization[4] Assets and Liabilities - Cash and cash equivalents increased to $178.9 million as of September 27, 2025, compared to $149.3 million at the end of December 2024[18] - Total current assets rose to $413.8 million as of September 27, 2025, from $385.5 million at December 28, 2024[18] - Total liabilities decreased to $739.7 million as of September 27, 2025, down from $782.5 million at December 28, 2024[18] Contact Information - Investor relations contact is managed by Sara Macioch, Senior Director, reachable at 770-562-6399[34] - Media inquiries can be directed to Christine DeBord in Marketing at 770-746-9576[34]