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Apr 01, 2023
Janus Q1 2023 Earnings Report
Reported a revenue increase driven by strong performance in Restore, Rebuild & Replace (R3), grew net income, and delivered year-over-year increase in Adjusted EBITDA.
Key Takeaways
Janus International Group reported strong Q1 2023 results, with a 9.8% increase in revenues to $251.9 million and a 37% year-over-year increase in Adjusted EBITDA to $61.2 million. Net income increased to $26.0 million, or $0.18 per diluted share. The company raised its full-year 2023 revenue and Adjusted EBITDA guidance.
Delivered 9.8% organic revenue growth.
Net income grew to $26.0 million, with EPS of $0.18 per diluted share.
Adjusted EBITDA increased by 37% year-over-year to $61.2 million.
Raised full-year 2023 revenue and Adjusted EBITDA guidance.
Revenue by Segment
Forward Guidance
Janus is raising full-year 2023 guidance as follows: Revenue in a range of $1.06 billion to $1.08 billion, Adjusted EBITDA in a range of $253 million to $278 million.
Positive Outlook
- Revenue in a range of $1.06 billion to $1.08 billion, up from the previous range of $1.05 billion to $1.07 billion.
- New revenue range represents a 5.0% increase at the midpoint as compared to 2022 levels.
- Adjusted EBITDA in a range of $253 million to $278 million, up from the previous range of $250 million to $275 million.
- New Adjusted EBITDA range represents a 17.0% increase at the midpoint as compared to 2022 levels.
- Strong fundamentals in end markets, particularly in self-storage.
Challenges Ahead
- Recent macroeconomic volatility.
- Risks of the self-storage industry.
- Highly competitive nature of the self-storage industry.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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