Janus International Group, Inc. · NYSE:JBI
Janus International — Q3 2023 Earnings Presentation
15 slides from Janus International's earnings presentation, Nov 6, 2023
Slide 1: Third Quarter 2023 Earnings Presentation
THIRD QUARTER 2023 EARNINGS PRESENTATION November 6, 2023 JanusIntl.com 1
Slide 2: Forward-Looking Statements; Non-GAAP Financial Measures
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 & 3Q23 Financial Overview & Market Update Guidance Update 3
Slide 4: Third Quarter 2023 Highlights
Third Quarter 2023 Highlights ▪ Solid 6.7% organic revenue growth ▪ New Construction up 40.3% Third Quarter 2023 Revenue Mix ▪ Restore, Rebuild & Replace (“R3”) down (1.9)%. ▪ Commercial & Other down (11.1)% ▪ Robust Adjusted EBITDA1 growth of 20.4% to $76.2 million ▪ Delivered Adjusted EBITDA margi
Slide 5: Q3 2023 Results Overview
Q3 2023 Results Overview Adj. EBITDA1 Revenue $280.1M $76.2M 6.7% increase 20.4% increase 27.2% margin Adj. Diluted EPS1 Operating Cash Flow $0.27 Adj. Net Income1 $49.9M of $39.0M FCF2 of $46.0M 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 $802.6M $211.4M 33.2% increase 8.5% increase 26.3% margin Adj. Diluted EPS1 Operating Cash Flow $0.70 Adj. Net Income1 $146.5M of $102.7M FCF2 of $133.0M Building on our Track Record of Execution and Growth 1. Adjusted EBITDA, Adjusted Net Inco
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% 117% TTM at 3Q 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: Q3 2023 and YTD 2023 Summary
Q3 2023 and YTD 2023 Summary ▪ Solid third quarter organic growth driven by New Construction ▪ Commercial and productivity initiatives continue to drive top line growth, offsetting higher costs ◦ ~310 bps improvement in Adj. EBITDA1 margin YoY ▪ Ongoing meaningful cash generation; YTD free cash flow
Slide 11: Appendix
Appendix 11
Slide 12: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Three Months Ended Variance Nine Months Ended Variance September 30, October 1, September 30, October 1, 2023 2022 $ % 2023 2022 $ % Net Income $ 37.0 $ 32.4 $ 4.6 14.2 % Net Income $ 100.0 $ 75.0 $ 25.0 33.3 % Interest Expense $ 14.5 $ 11.0 $ 3.5 31.8 % Interest Expen
Slide 13: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation Three Months Ended Nine Months Ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Net Income (Loss) $ 37.0 $ 32.4 Net Income (Loss) $ 100.0 $ 75.0 Net Income Adjustments(1) $ 2.7 $ — Net Income Adjustments(1) $ 3.6 $ 1.9 Tax Effect on Net I
Slide 14: Non-GAAP Adjusted EPS
Non-GAAP Adjusted EPS* Three Months Ended Nine Months Ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Numerator: Numerator: GAAP Net Income $ 37.0 $ 32.4 GAAP Net Income $ 100.0 $ 75.0 Non-GAAP Adjusted Net Income $ 39.0 $ 32.4 Non-GAAP Adjusted Net Income $ 102.7 $ 76.5
Slide 15: Free Cash Flow Conversion
Free Cash Flow Conversion* Nine Months Ended September 30, 2023 October 1, 2022 Cash flow from operating activities $ 146.5 $ 62.7 Less capital expenditure $ (13.5) $ (7.9) Free cash flow $ 133.0 $ 54.8 Non-GAAP Adjusted Net Income $ 102.7 $ 76.4 Free cash flow conversion of Non-GAAP Adjusted Net In
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