Investing.com -- Shares of Janus International Group, Inc (NYSE: JBI) rose 10% after the company reported fourth-quarter earnings and revenue that surpassed analyst expectations and issued positive guidance for the fiscal year 2025.
The Temple, Georgia-based company, a key player in access control technologies and building solutions, announced a fourth-quarter earnings per share (EPS) of $0.05, which was $0.03 higher than the analyst estimate of $0.02. Revenue for the quarter was reported at $230.8 million, significantly exceeding the consensus estimate of $185.19 million. However, this marked a 12.5% decrease from the $263.7 million reported in the same period last year.
For the full year, Janus International saw revenues of $963.8 million, a decrease from the previous year's $1,066.4 million. The company's net income for 2024 was $70.4 million, or $0.49 per diluted share, compared to $135.7 million, or $0.92 per diluted share in 2023. Adjusted EBITDA for 2024 came in at $208.5 million, a decline from $285.6 million in the prior year, reflecting decreased revenue and increased operating expenses.
Looking ahead, Janus provided a forecast for fiscal year 2025 with revenue expectations ranging between $860 million and $890 million, which is above the consensus estimate of $849.8 million. The company also set an Adjusted EBITDA target of $175 million to $195 million for the year.
The company's stock movement was buoyed by a statement from Keybanc analyst Jeffrey D. Hammond, who noted that Janus's adjusted EBITDA of $34.6 million was well above forecasts, driven by a resilient top line across all product lines. "JBI's reported 4Q24 adj. EBITDA of $34.6M, well-above our forecast of $27.2M (consensus of $26.9M), as a more resilient top line across all product lines (core down ~-16% vs. our ~-32%) drove the majority of the delta vs. our model, with margins also ahead of our expectations (albeit down ~-370 bps q/q)," said Hammond.
Despite the year-over-year declines, CEO Ramey Jackson expressed confidence in the company's long-term value proposition and its ability to drive value creation for stakeholders. The company has reaffirmed its long-term financial targets, which include annual organic revenue growth of 4% to 6%, an Adjusted EBITDA margin of 25% to 27%, and a net leverage ratio of 2.0x to 3.0x.
Investors reacted positively to the news, pushing Janus International's stock upward in the latest trading session.
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