Janus International posts surprise Q3 revenue drop and cuts forecast
JBI•Janus International’s Q3 revenue fell 2.8% to $213.1 million, below analysts’ $234.99 million estimate, and adjusted EPS and EBITDA also missed expectations. The company cut its 2026 revenue forecast to $855 million-$865 million and adjusted EBITDA forecast to $127 million-$133 million.
1. Quarterly results
Janus International reported Q3 revenue of $213.1 million, down 2.8% from $219.3 million a year earlier and below the $234.99 million analyst estimate. Adjusted EPS was $0.08 versus an expected $0.18, and adjusted EBITDA was $34 million versus an expected $40.77 million. The company recorded a net loss of $13.3 million and $18.3 million in goodwill and intangible asset impairment charges.
2. Lower 2026 outlook
Janus expects full-year 2026 revenue of $855 million to $865 million, down from its Q2 forecast of $925 million to $945 million. It now expects adjusted EBITDA of $127 million to $133 million, compared with its earlier forecast of $150 million to $170 million.
3. Demand and buybacks
The CEO said activity levels were softer than anticipated during the quarter. Total self-storage revenue fell 5.0%, with R3 revenue down 10.6% and new construction down 1.6%. The company repurchased 5 million shares for $25.3 million during the quarter and said it is taking actions to align operations with current demand and improve efficiency.
