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JBI INVESTOR ALERT: Bronstein, Gewirtz and Grossman, LLC Announces an Investigation into Janus International Group, Inc. and Encourages Investors to Contact the Firm
JBIJanus International (JBI) GlobeNewswire News Room·2024-10-31 20:00

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 230.1millionforthefiscalthirdquarter,whichisayearoveryeardeclineof17.9230.1 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 910millionto910 million to 925 million, compared to consensus estimates of 1billion,citingmacroeconomicheadwinds,interestrateuncertainty,andprojectdelays[2].StockMarketReactionFollowingtheannouncementofitsfinancialresults,Janussstockpricedroppedby1 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].