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Sep 30, 2023
Janus Q3 2023 Earnings Report
Janus International Group reported a record third quarter with organic revenue growth.
Key Takeaways
Janus International Group reported a strong Q3 2023 with a 6.7% increase in revenues, a 14.2% increase in net income, and a 20.4% increase in Adjusted EBITDA. The company also raised its full-year 2023 revenue and Adjusted EBITDA guidance.
Revenues increased by 6.7% to $280.1 million compared to Q3 2022, driven by strong performance in New Construction, which was up 40.3%.
Net income grew by 14.2% to $37.0 million, with EPS of $0.25 per diluted share.
Adjusted EBITDA increased by 20.4% year-over-year to $76.2 million, with Adjusted EBITDA as a percentage of revenues at 27.2%.
The company raised its full-year 2023 revenue guidance to $1.08 billion to $1.09 billion and Adjusted EBITDA guidance to $280 million to $290 million.
Forward Guidance
Janus International Group raised its full-year 2023 guidance based on its current business outlook.
Positive Outlook
- Revenue is expected to be in the range of $1.08 billion to $1.09 billion, representing a 6.4% increase at the midpoint compared to 2022 levels.
- Adjusted EBITDA is projected to be in the range of $280 million to $290 million, representing a 25.6% increase at the midpoint compared to 2022 levels.
- The guidance reflects the company's robust year-to-date results.
- The guidance reflects the strength in the company's backlog.
- The guidance reflects the company's outlook for the balance of the year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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