JBI NYSE· Janus International Group Inc.
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JBI NYSE· Janus International Group Inc.
Earnings report Q4 2023

JBI Reports 3.4% Increase in Total Revenue for Latest Quarter

Segments of Revenue

JBI's total revenue for the quarter ended December 30, 2023, was $1,028.4 million, representing a 3.4% increase compared to the same quarter in the previous year. This growth was driven by a $8.6 million or 1.0% increase in product revenues and a significant $25.5 million or 26.4% increase in service revenues. Product revenues amounted to $906.4 million, while service revenues reached $122.0 million.


JBI's financial performance in the latest quarter showcased several strengths. The company experienced growth in its New Construction and R3 self-storage segments, contributing to the overall revenue increase. Approximately 86% of the revenue growth can be attributed to the impact of JBI's commercial actions throughout the year. Additionally, the significant increase in service revenues can be attributed to the larger service component in self-storage product contracts.


While JBI's overall revenue increased, there were some challenges evident in the latest quarter. Product revenues saw a slight decline of $12.7 million or 5.4% compared to the same quarter in the previous year. Service revenues also experienced a decrease of $3.3 million or 7.6%. These declines in revenue may indicate potential challenges in certain product and service offerings.


It is worth noting that JBI's service revenues, particularly in the self-storage segment, played a significant role in driving the overall revenue growth. This highlights the importance of service contracts and their contribution to the company's financial performance.


JBI reported a 3.4% increase in total revenue for the latest quarter, driven by growth in the New Construction and R3 self-storage segments. The company's commercial actions throughout the year had a substantial impact on revenue growth, with approximately 86% of the increase attributed to these actions. However, there were challenges observed in product and service revenues, indicating potential areas of improvement. Overall, JBI's performance in the latest quarter demonstrated strengths in certain segments and the significance of service contracts in driving revenue growth.

Source documents

Form 10-K  filed on Feb 28, 2024
14 pages scanned

Reference data

Company financials Q4 revenue 264M
Analyst estimates Q4 EPS beat by 0.84%
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