Janus International Group, Inc. · NYSE:JBI
Janus International — Q1 2023 Earnings Presentation
14 slides from Janus International's earnings presentation, May 11, 2023
Slide 1: First Quarter 2023 Earnings Presentation
FIRST QUARTER 2023 EARNINGS PRESENTATION May 11, 2023 JanusIntl.com 1
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS Certain statements in this communication, including the estimated guidance provided under “2023 Outlook” 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 Securities Ex
Slide 3: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES In this presentation Janus uses measures of performance that are not required by or presented in accordance with GAAP in the United States. Non-GAAP financial performance measures are used to supplement the financial information presented on a GAAP basis. These non-GAAP f
Slide 4: Agenda
AGENDA Ramey Jackson Anselm Wong Chief Executive Officer Chief Financial Officer Business Overview & 1Q23 Financial Overview Market Update 4
Slide 5: First Quarter 2023 Highlights
First Quarter 2023 Highlights ▪ Strong 9.8% organic revenue growth across all sales channels First Quarter 2023 Revenue Mix • Restore, Rebuild & Replace (“R3”) up 26.9% • New Construction up 2.6% • Commercial & Other up 2.6% ▪ Robust Adjusted EBITDA1 growth of 37.0% to $61.2 million ▪ Delivered Adju
Slide 6: Q1 2023 Results Overview
Q1 2023 Results Overview Adj. EBITDA1 Revenue $251.9M $61.2M 9.8% increase 37.0% increase 24.3% margin Adj. Diluted EPS1 Operating Cash Flow $0.18 Adj. Net Income1 $50.2M of $26.4M FCF2 of $44.2M Continued Strong Growth and Execution 1. Adjusted EBITDA, Adjusted Net Income and Adjusted Diluted EPS a
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% 88% TTM at 1Q23 Solid Balance Sheet Invest in Growth Financial Flexibility 2.0x-3.0x Leverage Target Acquisitions Optimize R
Slide 8: Plan in Motion for Significant Value Creation
Plan in Motion 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% - 27% ■ Drive
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 • Strong outlook reflects current backlog and pipeline, along Revenue with combined benefit of commer
Slide 10: Q1 2023 and 2023 Summary
Q1 2023 and 2023 Summary ▪ Strong first quarter organic growth driven primarily by R3 sales channel ▪ Commercial and productivity initiatives continue to drive top line growth, offsetting higher costs • ~480 bps improvement in Adj. EBITDA1 margin YoY ▪ Ongoing meaningful cash generation; free cash f
Slide 11: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Three Months Ended Variance April 1, 2023 April 2, 2022 $ % Net Income $ 25,982 $ 19,704 $ 6,278 31.9% Interest Expense 15,998 8,775 7,223 82.3% Income Taxes 9,017 6,607 2,410 36.5% Depreciation 2,180 1,857 323 17.4% Amortization 7,416 7,225 191 2.6% EBITDA $ 60,593 $
Slide 12: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation Three Months Ended April 1, 2023 April 2, 2022 Net Income (Loss) $ 25,982 $ 19,704 Net Income Adjustments(1) 590 499 Tax Effect Non-GAAP on Net Income Adjustments(2) (152) (125) Non-GAAP Adjusted Net Income $ 26,420 $ 20,078 1. Refer to SEC public filings for detai
Slide 13: Non-GAAP Adjusted EPS
Non-GAAP Adjusted EPS Three Months Ended April 1, 2023 April 2, 2022 Numerator: GAAP Net Income $ 25,982 $ 19,704 Non-GAAP Adjusted Net Income $ 26,420 $ 20,078 Denominator: Weighted average number of shares: Basic 146,703,894 146,561,717 Adjustment for Restricted Stock Units 48,007 271,172 Diluted
Slide 14: Free Cash Flow Conversion
Free Cash Flow Conversion Three Months Ended April 1, April 2, 2023 2022 Cash flow from operating activities $ 50,246 $ 24,777 Less capital expenditure (6,070) (2,880) Free cash flow $ 44,176 $ 21,897 Non-GAAP Adjusted Net Income $ 26,420 $ 20,078 Free cash flow conversion of Non-GAAP Adjusted Net I
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