Janus International Group (JBI) Q2 2026 earnings summary

Executive summary

• Second quarter 2026 revenue rose 2.4% year-over-year to $233.5 million, driven by the Kiwi II Construction acquisition and strong self-storage and new construction channels, but offset by declines in commercial and other segments due to macroeconomic uncertainty and lower housing churn.

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

• Adjusted EBITDA for Q2 2026 was $40.2 million (17.2% margin), down 18% year-over-year, reflecting pricing pressures, loss of leverage on fixed costs, and higher restructuring and acquisition expenses.

• Installed Nokē Smart Entry System units surpassed 500,000, up 22.5% year-over-year, supporting recurring revenue growth.

• 367,000 shares were repurchased for $1.9 million in Q2 2026; year-to-date repurchases total 3.2 million shares for $17.6 million, with $63.1 million remaining under the authorization.

Financial highlights

• Product revenues were $197.9 million (up 3.7%) and service revenues $35.6 million (down 4.3%) in Q2 2026.

• 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, with adjusted diluted EPS of $0.17.

• Free cash flow for Q2 2026 was $21.6 million, with a trailing twelve-month free cash flow conversion of 129%.

• Ended the quarter with $127.0 million in cash and $205.3 million in liquidity; long-term debt was $538.9 million.

Outlook and guidance

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

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

• Capital expenditures are expected to be $29–$34 million, with an effective tax rate of 28%–31%.

• Management expects ongoing pricing pressures, elevated input costs, and project delays, but targets sequential margin improvement in the second half of 2026.

• Free cash flow conversion is expected at the higher end of the 75%–100% target range.