Janus International Group Inc Stock Price, News & Analysis

Janus International Group (NYSE: JBI) has completed its acquisition of DBCI, a manufacturer of steel roll-up doors under Cornerstone Building Brands (NYSE: CNR). This acquisition aims to enhance Janus's product offerings and customer service capacity. Janus expects to benefit from DBCI's contractor and distributor relationships, facilitating growth in its Nokē® Smart Entry technology. CEO Ramey Jackson highlighted anticipated synergies that will lead to cost savings and an improved service platform for clients.

Cornerstone Building Brands (CNR) has completed the sale of its Roll-up Sheet Door business to Janus International Group (JBI) for $168 million. This divestiture aims to refine CNR's portfolio, allowing for enhanced growth in larger markets. The company plans to reinvest the net proceeds into strategic initiatives focused on profitable growth and achieving a net debt leverage target of 2.0x to 2.5x. CNR is the largest manufacturer of exterior building products in North America, with a comprehensive range of products and a significant presence across various markets.

Janus International Group, Inc. (NYSE: JBI) reported a 42.5% revenue increase for Q2 2021, totaling $174.2 million, driven by significant growth in commercial and self-storage sales. However, net income fell to $1.1 million from $11.0 million year-over-year, attributed to rising costs and higher taxes. Adjusted net income rose to $17.3 million with Adjusted EBITDA reaching $35.9 million, a 26.0% increase. The company anticipates revenue for 2021 between $672 million and $692 million, along with an Adjusted EBITDA guidance of $156 million to $162 million.

Janus International Group, Inc. (NYSE: JBI) will disclose its second quarter 2021 financial results on August 10, 2021, before market opening. A conference call and webcast are scheduled for the same day at 10:00 a.m. Eastern time to discuss these results and recent developments. Interested parties can access the live and archived events through the Company's investor relations webpage. Janus is a global provider of turn-key building solutions and access control technologies for the self-storage sector, operating from several U.S. locations and six international sites.

Cornerstone Building Brands (CNR) has signed an agreement to sell its Roll-up Sheet Door business, under the DBCI brand, to Janus International Group (JBI) for $168 million. The transaction, expected to close in Q3 2021, involves three manufacturing facilities and a sales office, transferring around 240 employees to Janus. The DBCI business generated approximately $85 million in sales over the past year, with about $65 million in net sales and $14 million in Adjusted EBITDA that would be excluded from CNR's results if the deal closed earlier. Proceeds will enhance financial flexibility and support growth initiatives.

Janus International Group, Inc. (NYSE: JBI) has signed a definitive agreement to acquire DBCI, a key manufacturer of steel roll-up doors, enhancing its presence in the self-storage industry. The acquisition aims to broaden Janus's customer base by leveraging DBCI's network of general contractors and distributors. With DBCI's trailing 12-month revenue at approximately $85 million, the combined entity expects significant cost savings, operational integration, and an expanded geographic footprint. The transaction is set to close in Q3, pending customary conditions.

Janus International Group, Inc. (NYSE:JBI) has introduced a new service, Facilitate, aimed at optimizing and maintaining self-storage facilities. This initiative is led by industry veteran David Alexander, who brings over 30 years of expertise in the overhead door sector. Facilitate will provide a comprehensive maintenance program to help reduce repair costs. CEO Ramey Jackson emphasized that this service enhances Janus's commitment to offering complete solutions in the self-storage industry, ensuring facility owners can rely on expert maintenance for their properties.

Janus International Group (NYSE:JBI) reported a strong performance in Q1 2021, with revenues of $152.8 million, reflecting a 10.9% increase year-over-year. This growth was fueled by higher volumes and improved market conditions. The company achieved adjusted EBITDA of $32.6 million, a 14.8% increase, despite rising costs in raw materials, freight, and labor. Net income rose to $14.7 million from $10.0 million a year earlier, while operating cash flow increased to $25.6 million. The company's CEO highlighted ongoing strategic initiatives and robust demand in the self-storage and industrial markets.

Janus International Group (NYSE:JBI) announced participation in the Stifel 2021 Virtual Cross Sector Insight Conference on June 10, 2021. As a global leader in manufacturing building solutions and new access control technologies, Janus specializes in products such as automation systems, roll-up and swing doors, and re-locatable storage units. The company operates from multiple U.S. locations and six international sites, providing comprehensive solutions for the self-storage and industrial sectors.