Janus International (US:JBI)2023-08-10 16:39Financial 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]