In the fourth quarter, Janus International posted consolidated revenue of $226.3 million, a 1.9% year-over-year decline, while adjusted EBITDA rose 7.5% to $37.2 million, delivering a 16.4% margin. Adjusted net income was $15.6 million, down 15.2%, and free cash flow reached $19.2 million with a 137% conversion rate.

International segment revenue climbed 33.3% to $26.0 million, driven by new construction growth and favorable foreign exchange, while self-storage revenue dipped 0.4% with an 8.1% drop in new construction offset by 12.7% R3 renovation gains. Commercial revenue declined 5% due to sheet door softness but saw strength in rolling steel and TMC products.

The company ended 2025 with $260.5 million in total liquidity, including $194.4 million in cash, and $551 million in long-term debt, resulting in net leverage of 2.1x. Capital actions included a $40 million voluntary prepayment on the first-lien term loan, repurchasing 1.9 million shares for $16 million, and reducing first-lien pricing by 50 basis points.

For 2026, management forecasts revenue of $940-980 million and adjusted EBITDA of $165-185 million, reflecting $90-100 million of inorganic revenue from the Kiwi II acquisition. The outlook assumes no market improvement, with margins pressured by integration costs and product mix, while net leverage is expected to stay within a 2x-3x range.