NYSE$JBI
Janus International Group Inc. · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Janus International Group's financial performance decreased due to macroeconomic headwinds and project delays, but strategic cost reduction plans and investments aim to enhance long-term value.
Janus International Group reported a decrease in revenue and net income for the third quarter of 2024, impacted by macroeconomic factors and project delays. The company is implementing a structural cost reduction plan and remains focused on long-term growth through strategic investments and market share enhancement.
- Revenues decreased by 17.9% to $230.1 million compared to the third quarter of 2023, with self-storage revenues down 22.4% and commercial and other revenues declining 7.8%.
- Net income decreased by 68.1% to $11.8 million, or $0.08 per diluted share, compared to $37.0 million, or $0.25 per diluted share in the third quarter of 2023.
- Adjusted EBITDA decreased by 43.4% to $43.1 million, with an adjusted EBITDA margin of 18.7%, a decrease of approximately 850 basis points from the prior year.
- The company deployed $45.5 million in share repurchases and announced a structural cost reduction plan expected to generate $8 million to $12 million of annual pre-tax cost savings.
Headline financials
Revenue & EPS history
Janus · Revenue · Quarterly
$230M
Forward guidance
Janus International is revising its full year 2024 guidance due to the extension of self-storage project delays, a slower return to growth in Commercial and Other, and election uncertainty.
Headwinds
- Extension of self-storage project delays from elevated interest rate levels decreasing at a slower pace than anticipated.
- Return to growth in Commercial and Other is expected to be pushed into 2025.
- Election uncertainty has impacted demand across all sectors.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2024
+2.0%
Avg return
Earnings day
+1.8%
Avg return
5 days after
-4.0%
Avg return
30 days after
61%
14 / 23 earnings
Positive
+27.3%
Q3 2022
Best reaction
-29.4%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.8% | -5.7% | +3.5% | |
| Q4 2025 | -14.8% | -18.1% | -27.8% | |
| Q3 2025 | +0.8% | -5.0% | -38.3% | |
| Q1 2025 | +10.2% | +18.9% | +14.5% | |
| Q4 2024 | +13.0% | -2.6% | -10.9% | |
| Q3 2024 | -29.4% | -28.7% | -28.3% | |
| Q2 2024 | -20.9% | -22.9% | -21.6% | |
| Q1 2024 | +2.2% | +3.9% | -3.4% | |
| Q4 2023 | -4.0% | -2.3% | +1.2% | |
| Q3 2023 | -1.1% | -0.5% | +6.4% | |
| Q2 2023 | +11.8% | +15.1% | -1.8% | |
| Q1 2023 | -3.7% | -7.0% | -0.4% | |
| Q4 2022 | +3.2% | +6.2% | -7.3% | |
| Q3 2022 | +27.3% | +26.3% | +24.3% | |
| Q2 2022 | +0.4% | -2.8% | -10.9% | |
| Q1 2021 | +16.8% | +17.8% | +3.0% | |
| Q1 2022 | +16.8% | +17.8% | +3.0% | |
| Q4 2021 | +7.0% | +12.9% | +5.6% | |
| Q3 2021 | -15.6% | -8.4% | -12.6% | |
| Q3 2020 | -15.6% | -8.4% | -12.6% | |
| Q4 2020 | +14.9% | +11.6% | +7.7% | |
| Q2 2021 | +14.9% | +11.6% | +7.7% | |
| Q2 2020 | +14.9% | +11.6% | +7.7% |
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