The following is a summary of the Janus International Group, Inc. (JBI) Q1 2024 Earnings Call Transcript:
Financial Performance:
Janus International reported 1% higher consolidated revenue of $254.5 million for Q1 2024 and a strong adjusted EBITDA up by 8.3% compared to the year-ago quarter.
Cash generation from operating activities stood at $28.6 million with a free cash flow of $24 million.
The company repurchased 1.02 million shares for $15.3 million in Q1, and made a voluntary prepayment of $21.9 million for the first-lien term loan.
Business Progress:
New construction in the Self-storage segment saw a robust growth of 40.2%, and despite a 19.2% decline in the commercial and other sales channels, overall consolidated revenue was up.
They launched the Nokē Ion, expanding the Nokē Smart Entry product lineup.
Janus' digital product, Nokē, reached 300,000 connected devices, and beta testing of its potential new product, Ion, is ongoing.
More details: Janus International IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.