Janus International Group (JBI) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $233.5 million, up 2.4% year-over-year, driven by self-storage and new construction growth, with the Kiwi II Construction acquisition contributing $19.2 million, but offset by declines in commercial and other segments due to macroeconomic uncertainty.

• Net income for Q2 2026 was $10.7 million, down 48.3% from $20.7 million in Q2 2025, primarily due to higher costs, margin compression, and increased operating expenses.

• Adjusted EBITDA was $40.2 million (17.2% margin), down 18% year-over-year, reflecting pricing pressures, negative mix, and higher restructuring and acquisition expenses.

• Over 500,000 Nokē Smart Entry units installed, up 22.5% year-over-year, supporting recurring revenue growth.

• 367,000 shares repurchased in Q2 2026 for $1.9 million; $63.1 million remains authorized.

Financial highlights

• Product revenues were $197.9 million (+3.7% YoY); service revenues were $35.6 million (–4.3% YoY).

• Gross profit was $80.3 million, down 13.8% year-over-year, with margin contraction due to higher steel prices and acquisition costs.

• Adjusted net income was $23.9 million; adjusted diluted EPS was $0.17.

• Free cash flow for Q2 2026 was $21.6 million; trailing 12-month free cash flow conversion of adjusted net income was 129%.

• Ended quarter with $127 million cash, $538.9 million long-term debt, and $205.3 million liquidity.

Outlook and guidance

• Full-year 2026 revenue guidance is $925–$945 million, representing 5.7% growth at the midpoint, with $80–$90 million inorganic revenue expected.

• Adjusted EBITDA guidance for 2026 is $150–$170 million (17.1% margin at midpoint), a 4.9% decline at the midpoint year-over-year.

• Capital expenditures expected at $29–$34 million; effective tax rate projected at 28%–31%.

• Management targets sequential margin improvement in the second half of 2026 through operational optimization.

• Ongoing focus on cost control, capital allocation, and strategic investments amid macroeconomic uncertainty.