Janus International Group, Inc. · NYSE:JBI
Janus International — Q1 2024 Earnings Presentation
14 slides from Janus International's earnings presentation, May 9, 2024
Slide 1: First Quarter 2024 Earnings Presentation
FIRST QUARTER 2024 EARNINGS PRESENTATION May 9, 2024 JanusIntl.com 1
Slide 2: Forward-Looking Statements; Non-GAAP Financial Measures
FORWARD-LOOKING STATEMENTS Certain statements in this presentation, including the estimated guidance provided under “2024 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 Securities Ex
Slide 3: Agenda
AGENDA Ramey Jackson Anselm Wong Chief Executive Officer Chief Financial Officer Business Overview & 1Q24 Financial Overview & Market Update Guidance Update 3
Slide 4: First Quarter 2024 Highlights
First Quarter 2024 Highlights • 1.0% organic revenue growth • Total Self-Storage up 11.0% • Commercial & Other down 19.2% First Quarter 2024 Revenue Mix • Adjusted EBITDA1 growth of 8.3% to $66.3 million Self-Storage • Delivered Adjusted EBITDA as a percentage of revenues of 26.1%, an increase of ~1
Slide 5: Q1 2024 Results Overview
Q1 2024 Results Overview Adj. EBITDA1 Revenue $254.5M $66.3M 1.0% increase 8.3% increase 26.1% margin Adj. Diluted Operating Cash EPS1 Flow $0.21 $28.6M Adj. Net Income1 FCF1 of $24.0M of $31.1M Continued Solid Financial Performance 1. Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS, and
Slide 6: 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. Net Income1 123% TTM at 1Q 2024 Solid Balance Sheet Invest in Growth Financial Flexibility 2.0x-3.0x Net Leverage Acquisitions Share Repur
Slide 7: 2024 Guidance
2024 Guidance Building on Established Momentum to Deliver Another Year of Record Results FULL YEAR • Reiterating full year guidance for Revenue and Adjusted 2024 Guidance EBITDA Revenue Adjusted EBITDA1 • Outlook reflects first quarter results, current backlog and $1.092B to $1.125B $286M to $310M v
Slide 8: YTD 2024 Accomplishments
YTD 2024 Accomplishments • Financial ◦ Solid 1Q 2024 results including Adjusted EBITDA1 as a percentage of revenues of 26.1%, up ~180 bps from 1Q 2023 and Adjusted Net Income1 growth of 17.8% ◦ Continued strong cash generation with TTM 1Q 2024 free cash flow conversion of Adjusted Net Income1 of 123
Slide 9: Appendix
Appendix
Slide 10: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation* Three Months Ended Variance (dollar amounts in millions) March 30, 2024 April 1, 2023 $ % Net Income $ 30.7 $ 26.0 $ 4.7 18.1 % Interest expense 14.4 16.0 (1.6) (10.0) % Income taxes 10.5 9.0 1.5 16.7 % Depreciation 2.8 2.2 0.6 27.3 % Amortization 7.4 7.4 — —% EBITDA
Slide 11: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation* Three Months Ended (dollar amounts in millions) March 30, 2024 April 1, 2023 Net Income (Loss) $ 30.7 $ 26.0 Net Income Adjustments(1) 0.5 0.6 Tax Effect on Net Income Adjustments(2) (0.1) (0.2) Non-GAAP Adjusted Net Income $ 31.1 $ 26.4 1. Refer to SEC public fil
Slide 12: Non-GAAP Adjusted EPS
Non-GAAP Adjusted EPS* (dollar amounts in millions) Three Months Ended March 30, 2024 April 1, 2023 Numerator: GAAP Net Income $ 30.7 $ 26.0 Non-GAAP Adjusted Net Income $ 31.1 $ 26.4 Denominator: Weighted average number of shares: Basic 146,604,142 146,703,894 Adjustment for Dilutive Securities 442
Slide 13: Free Cash Flow Conversion
Free Cash Flow Conversion* Three Months Ended (dollar amounts in millions) March 30, 2024 April 1, 2023 Cash flow from operating activities $ 28.6 $ 50.2 Less: capital expenditure (4.6) (6.1) Free cash flow $ 24.0 $ 44.1 Non-GAAP Adjusted Net Income $ 31.1 $ 26.4 Free cash flow conversion of Non-GAA
Slide 14: Net Leverage Ratio
Net Leverage Ratio* (dollar amounts in millions) March 30, 2024 December 30, 2023 Note payable - Amendment No.6 First Lien $ 621.9 $ 623.4 Less: Cash 178.4 171.7 Net Debt $ 443.5 $ 451.7 Net Income (Trailing Twelve-Month periods ended) $ 140.5 $ 135.7 Adjusted EBITDA (Trailing Twelve-Month periods e
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