Self-storage solutions maker Janus' Q1 adjusted EPS falls more than expected

Overview

• US self-storage solutions maker's fiscal Q1 revenue rose 5.8%, beating analyst expectations

• Adjusted EPS and adjusted net income for Q1 missed analyst expectations

• Company repurchased 2.9 mln shares for $15.7 mln during the quarter

Outlook

• Janus reaffirms 2026 revenue guidance at $940 mln to $980 mln

• Company expects 2026 adjusted EBITDA of $165 mln to $185 mln

• Janus says self-storage development in North America likely to remain constrained until financing conditions ease

Result Drivers

• SELF-STORAGE GROWTH - Revenue growth was driven by an 8.7% increase in self-storage revenues, with new construction up 10.9% and R3 up 5.3%

• KIWI II ACQUISITION - The acquisition of Kiwi II Construction contributed $18.1 mln to new construction sales

• HIGHER OPERATING COSTS - Adjusted EBITDA margin declined due to increased restructuring charges, acquisition expenses, and a loss on extinguishment of debt

Company press release: ID:nBw13r51Wa

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the construction supplies & fixtures peer group is "buy"

• Wall Street's median 12-month price target for Janus International Group Inc is $9.00, about 77.2% above its May 11 closing price of $5.08

• The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 11 three months ago

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