Janus International Group reports Q4 adjusted EPS 24c, consensus 26c

Reports Q4 revenue $263.7M, consensus $284.86M. Ramey Jackson, CEO, stated, “A relentless focus on execution and strong demand fundamentals in our end markets drove another year of record results in 2023. We are proud of all we accomplished including the pay down and refinancing of our term loan, the opening of our Atlanta software center and migration of the Noke cloud provider to Amazon Web Services, and the opening of our manufacturing facility in Poland. Supported by our leading market position in self-storage, we generated solid organic growth, a 450-basis point improvement in adjusted EBITDA margin, substantial free cash flow generation, and another meaningful decrease in net leverage to 1.6x.” Jackson continued, “Supported by the resilience of our business model, the strength in our cash generation profile, and our ongoing commitment to delivering shareholder value through a thoughtful approach to capital allocation, we are announcing our inaugural $100M share repurchase program. We are also pleased to introduce our FY24 revenue and adjusted EBITDA guidance and reiterate the goals we laid out a year ago in our long-term outlook.”