Janus International Group, Inc. · NYSE:JBI
Janus International — Q1 2025 Earnings Presentation
16 slides from Janus International's earnings presentation, May 8, 2025
Slide 1: First Quarter 2025 Earnings Presentation
FIRST QUARTER 2025 EARNINGS PRESENTATION May 8, 2025 JanusIntl.com 1
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Certain statements in this communication, including the estimated guidance provided under “2025 Guidance and Key Planning Assumptions” and under “Long-Term Fundamentals and Investment Overview” herein, may be considered “forward-looking statements” within the meaning of Se
Slide 3: Agenda
AGENDA Ramey Jackson Anselm Wong Chief Executive Officer Chief Financial Officer Business Overview & 1Q25 Financial Overview & Market Update Guidance Update 3
Slide 4: First Quarter 2025 Highlights
First Quarter 2025 Highlights • Delivered $210.5 Million in Total Revenue • Total Self-Storage down 23.1% First Quarter 2025 Revenue Mix ◦ New Construction down 25.5%, Restore, Rebuild & Replace (“R3”) down 19.3% Self-Storage • Commercial & Other down 1.0% Mix: 68.4% • Net Income of $10.8 million co
Slide 5: First Quarter 2025 Results Overview
First Quarter 2025 Results Overview Adj. EBITDA1 Revenue $210.5M $38.4M 17.3% decrease 42.1% decrease 18.2% margin Adj. Diluted EPS1 Operating Cash $0.13 Flow Adj. Net Income1 $48.3M of $17.7M FCF1 of $41.9M Strong Cash Flow Generation Amid A Challenging Macroeconomic Environment 1. Adjusted EBITDA,
Slide 6: First Quarter 2025 Revenue and Adjusted EBITDA Drivers
First Quarter 2025 Revenue and Adjusted EBITDA1 Drivers Revenue Adjusted EBITDA1 1. Adjusted EBITDA is not a financial measure determined in accordance with GAAP. For a definition of this metric and a reconciliation to our most directly comparable financial measure calculated and presented in accord
Slide 7: Structural Cost Reduction Plan
Structural Cost Reduction Plan Goals Estimated Annual Pre-Tax Cost Savings Improve margins $10 Million - $12 Million Simplify organizational structure 1Q 2025 Impact: ~$1.5M Enhance flexibility and efficiencies Action Plan Streamline labor force Rationalize real estate holdings Reduce selling, gener
Slide 8: 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 Flow Conversion of Adj. Net Income1 170% TTM as of 1Q 2025 Solid Balance Sheet Invest in Growth Financial Flexibility 2.0x-3.0x Net Leverage Ratio Acquisitio
Slide 9: 2025 Guidance and Key Planning Assumptions
2025 Guidance and Key Planning Assumptions Assumption Estimate Revenue Adj. EBITDA1 Depreciation and Amortization $40M - $50M $860M to $890M $175M to $195M Capital Expenditures 1.5% - 2.0% of Revenue Interest Expense, net2 $36M - $40M Effective Tax Rate3 27% - 29% 1. Adjusted EBITDA is not a financi
Slide 10: Long-Term Fundamentals and Investment Overview
Long-Term Fundamentals and Investment Overview Industry Leader in Well- Sustainable Multi-Faceted Strategy Structured Market Demand Drivers Driving Long-Term Growth Self-Storage (New Construction and R3): Self-Storage facility demand driven by Further Penetration of Self-Storage recurring life event
Slide 11: Appendix
Appendix
Slide 12: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation* (In millions, except percentages) Three Months Ended Variance March 29, 2025 March 30, 2024 $ % Net income $ 10.8 $ 30.7 $ (19.9) (64.8) % Interest, net 10.2 14.4 (4.2) (29.2) % Income taxes 4.6 10.5 (5.9) (56.2) % Depreciation 2.9 1.8 0.1 3.6 % Amortization 8.3 7.4 0
Slide 13: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation* (In millions) Three Months Ended March 29, 2025 March 30, 2024 Net income $ 10.8 $ 30.7 Net Income Adjustments (1) 1.6 0.5 Amortization 8.3 7.4 Tax Effect on Net Income Adjustments (2) (3.0) (2.0) Non-GAAP adjusted net income* $ 17.7 $ 36.6 1. Net income adjustmen
Slide 14: Non-GAAP Adjusted EPS
Non-GAAP Adjusted EPS* (In millions, except per share data) Three Months Ended March 29, 2025 March 30, 2024 Numerator: GAAP Net Income $ 10.8 $ 30.7 Non-GAAP Adjusted Net Income $ 17.7 $ 36.6 Denominator: Weighted average number of shares: Basic 140,050,632 146,604,142 Adjustment for Dilutive Secur
Slide 15: Free Cash Flow Conversion
Free Cash Flow Conversion* (In millions, except percentages) Three Months Ended March 29, 2025 March 30, 2024 Cash Flow from Operating Activities $ 48.3 $ 28.6 Less: Purchases of property, plant and equipment (6.4) $ (4.6) Free Cash Flow $ 41.9 $ 24.0 Non-GAAP Adjusted Net Income $ 17.7 $ 36.6 Free
Slide 16: Net Leverage Ratio
Net Leverage Ratio* (In millions) March 29, 2025 December 28, 2024 Note payable - First Lien $ 557.0 $ 598.5 Less: Cash 140.8 149.3 Net Debt* $ 416.2 $ 449.2 Net Income (Trailing Twelve-Month periods ended) 1 $ 50.5 $ 70.4 Adjusted EBITDA (Trailing Twelve-Month periods ended) 2 $ 180.6 $ 208.5 Long-
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