Janus International Group, Inc. · NYSE:JBI
Janus International — Q2 2023 Earnings Presentation
14 slides from Janus International's earnings presentation, Aug 10, 2023
Slide 1: Second Quarter 2023 Earnings Presentation
SECOND QUARTER 2023 EARNINGS PRESENTATION August 10, 2023 JanusIntl.com 1
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Certain statements in this communication, including the estimated guidance provided under “2023 Financial Guidance” herein, may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Se
Slide 3: Agenda
AGENDA Ramey Jackson Anselm Wong Chief Executive Officer Chief Financial Officer Business Overview & 2Q23 Financial Overview & Market Update Guidance Update 3
Slide 4: Second Quarter 2023 Highlights
Second Quarter 2023 Highlights ▪ Strong 9.2% organic revenue growth across all sales channels Second Quarter 2023 Revenue Mix ▪ New Construction up 33.9% ▪ Restore, Rebuild & Replace (“R3”) up 7.6%. ▪ Commercial & Other down 9.3% ▪ Robust Adjusted EBITDA1 growth of 46.0% to $74.0 million ▪ Delivered
Slide 5: Q2 2023 Results Overview
Q2 2023 Results Overview Adj. EBITDA1 Revenue $270.6M $74.0M 9.2% increase 46.0% increase 27.3% margin Adj. Diluted EPS1 Operating Cash Flow $0.25 Adj. Net Income1 $46.4M of $37.2M FCF2 of $42.8M Continued Solid Financial Performance 1. Adjusted EBITDA, Adjusted Net Income and Adjusted Diluted EPS a
Slide 6: Year-to-Date 2023 Results Overview
Year-to-Date 2023 Results Overview Adj. EBITDA1 Revenue $522.5M $135.2M 41.8% increase 9.5% increase 25.9% margin Adj. Diluted EPS1 Operating Cash Flow $0.43 Adj. Net Income1 $96.6M of $63.6M FCF2 of $87.0M Building on our Track Record of Execution and Growth 1. Adjusted EBITDA, Adjusted Net Income
Slide 7: Building on Record of High Return Capital Allocation
Building on Record of High Return Capital Allocation Strong cash flow profile, financial flexibility, disciplined capital deployment Free Cash Conversion of Adj. NI 75% - 100% 100% TTM at 2Q 2023 Solid Balance Sheet Invest in Growth Financial Flexibility 2.0x-3.0x Leverage Target Acquisitions Optimi
Slide 8: Executing Against the Plan for Significant Value Creation
Executing Against the Plan for Significant Value Creation 3-5 Year Long-Term Targets ■ Expand industry-leading position in well-structured market Annual Organic Revenue Growth 4% - 6% ■ Deliver Strong growth across existing sales channels and expand adoption of Nokē Remote Access EBITDA Margin 25% -
Slide 9: 2023 Guidance
2023 Guidance Building on Established Momentum to Deliver Another Year of Record Results UPDATED FULL YEAR • Raising full year guidance for Revenue and Adjusted EBITDA 2023 Guidance Adjusted EBITDA1 • Outlook reflects strong year-to-date results, current backlog Revenue and pipeline, and continued b
Slide 10: Q2 2023 and YTD 2023 Summary
Q2 2023 and YTD 2023 Summary ▪ Strong second quarter organic growth driven primarily by New Construction and R3 sales channels ▪ Commercial and productivity initiatives continue to drive top line growth, offsetting higher costs • ~680 bps improvement in Adj. EBITDA1 margin YoY ▪ Ongoing meaningful c
Slide 11: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Three Months Ended Variance Six Months Ended Variance July 1, 2023 July 2, 2022 $ % July 1, 2023 July 2, 2022 $ % Net Income $ 36,987 $ 22,837 $ 14,150 62.0 % Net Income $ 62,969 $ 42,541 $ 20,428 48.0 % Interest Expense 14,797 8,868 5,929 66.9 % Interest Expense 30,79
Slide 12: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation Three Months Ended Six Months Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Net Income (Loss) $ 36,987 $ 22,837 Net Income (Loss) $ 62,969 $ 42,541 Net Income Adjustments(1) 236 1,552 Net Income Adjustments(1) 826 2,050 Tax Effect on Net Income Adjustme
Slide 13: Non-GAAP Adjusted EPS
Non-GAAP Adjusted EPS* Three Months Ended Six Months Ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Numerator: Numerator: GAAP Net Income $ 36,987 $ 22,837 GAAP Net Income $ 62,969 $ 42,541 Non-GAAP Adjusted Net Income $ 37,164 $ 23,994 Non-GAAP Adjusted Net Income $ 63,586 $ 44,072 Denom
Slide 14: Free Cash Flow Conversion
Free Cash Flow Conversion* Six Months Ended July 1, 2023 July 2, 2022 Cash flow from operating activities $ 96,599 $ 43,152 Less capital expenditure $ (9,602) $ (5,268) Free cash flow $ 86,997 $ 37,884 Non-GAAP Adjusted Net Income $ 63,586 $ 44,072 Free cash flow conversion of Non-GAAP Adjusted Net
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