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Dec 31, 2022
Janus Q4 2022 Earnings Report
Janus International Group reported record results driven by strong performance in Restore, Rebuild & Replace (R3) and Commercial and Other segments, offset by a decrease in New Construction.
Key Takeaways
Janus International Group reported a strong fourth quarter and full year 2022, driven by revenue growth and margin expansion. The company achieved an 18.9% increase in revenue for the fourth quarter, with net income rising to $32.7 million. Looking ahead, Janus introduced its long-term strategic and financial outlook, anticipating sustained organic growth and margin expansion.
Revenues increased by 18.9% to $279.7 million compared to Q4 2021.
Net income was $32.7 million, or $0.22 per diluted share, compared to $10.3 million, or $0.07 per diluted share in Q4 2021.
Adjusted EBITDA increased by 57.5% to $68.3 million compared to Q4 2021.
Operating cash flow was $25.9 million compared to $15.1 million in Q4 2021.
Forward Guidance
Janus provided initial full-year 2023 guidance, anticipating revenue in the range of $1.05 billion to $1.07 billion and Adjusted EBITDA in the range of $250 million to $275 million.
Positive Outlook
- Expanding its position as the industry leader in a resilient well-structured market
- Delivering strong market growth through commercial actions, share gains across all three sales channels, increasing content per square foot, and expanding adoption of Nokē Remote Access
- Driving robust EBITDA margins through productivity initiatives, relentless cost containment, and a growing suite of higher margin solutions offerings
- Continuing to deliver solid free cash flow generation and conversion of adjusted net income, providing capital deployment optionality to drive shareholder value
- Executing value-accretive acquisitions targeting bolt-on and adjacent categories that benefit from the Company’s market leading position in core competencies
Challenges Ahead
- The estimates set forth above were prepared by the Company’s management and are based upon a number of assumptions.
- See “Forward-Looking Statements.”
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