Janus International Shares Soar To 52-Week High After Solid Q2 Results

Janus International Group Inc JBI reported second-quarter revenue growth of 42.5% year-over-year to $174.2 million, reflecting strong performance in the commercial and R3 - self-storage channels.
EPS decreased to $0.01 from $0.17 in 2Q20. Adjusted net income increased to $17.3 million, from $11.3 million in 2Q20.
The gross margin contracted by 265 bps to 34%, and the operating income decreased by 28.7% Y/Y to $14.34 million, and the margin contracted by 825 bps to 8.2%.
Janus International generated cash from operating activities year-to-date of $44.82 million, compared to $50.53 million a year ago.
Adjusted EBITDA increased by 26% Y/Y to $35.92 million and margin contracted by 270 bps to 20.6%. Management Adjusted EBITDA for the quarter was$39.8 million.
"We also look to grow via opportunistic M&A, as highlighted by our recently announced agreement to acquire DBCI, a leading provider of steel roll-up doors and building products. We are particularly excited about this acquisition, which is expected to complement our product offerings and begin positively contributing to our results upon its expected closing in the third quarter of 2021," commented Ramey Jackson, CEO.
FY21 Outlook: Janus expects Revenue of $672 million to $692 million and Management Adjusted EBITDA of $156 million to $162 million.
Price Action: JBI shares closed higher by 14.70% at $15.07 on Tuesday.