Why Janus International Shares Are Surging Today

Janus International Group Inc JBI reported first-quarter revenue growth of 50.2% year-over-year to $229.52 million, beating the consensus of $186.85 million.
Revenue growth was driven by solid performance across all sales channels, including Restore, Rebuild & Replace up 56.6% Y/Y, Commercial and Other up 51.1% Y/Y, and New Construction up 44.3% Y/Y.
Adjusted EPS was $0.14, above the consensus of $0.09.
The gross margin contracted by 151 bps to 33.4%. Operating income increased by 44.8% Y/Y to $35.12 million, and the margin contracted by 60 bps to 15.3%.
Operating cash flow was $24.8 million for Q1 compared to $25.6 million in 1Q21. Free cash flow was $21.9 million.
Adjusted EBITDA increased by 37% Y/Y to $44.67 million, and margin contracted by 175 bps to 19.5%. Adjusted EBITDA margin expanded ~100 bps sequentially.
“We have achieved a great deal in the three quarters since becoming a public company, and we look to build on that momentum even as we navigate the macro challenges. Continuing to be proactive in managing inflationary pressures through cost savings initiatives and additional commercial actions is a major part of that success,” commented Ramey Jackson, CEO.
FY22 Outlook: Janus expects revenue of $890 million - $910 million (up from $845 million - $865 million), above the consensus of $859.85 million.
It expects Adjusted EBITDA of $193 million - $200 million, up from the previous range of $183 million - $190 million.
Price Action: JBI shares are trading higher by 18.5% at $10.71 on the last check Tuesday.

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