TEMPLE, Ga. - Janus International Group, Inc. (NYSE: JBI), a global manufacturer in self-storage and industrial building solutions, has announced the release of two new roll-up door products designed to enhance security for self-storage facilities. The NS Series doors aim to address theft concerns by offering advanced safety features.
The company unveiled the NS+ Door and the NS Retrokit, both part of the NS Series, earlier this week. The NS+ Door, suitable for both new constructions and door replacements, boasts six 9-gauge security clips and 14-gauge support angles that are screwed into the floor for added strength. The NS Retrokit, on the other hand, is an upgrade package for existing Janus doors, incorporating two of the 9-gauge security clips featured in the NS+ Door.
Morgan Hodges, Executive Vice President of Janus, emphasized the industry's growing need for heightened security and expressed confidence that the NS Series doors would significantly improve the protection of tenants' property.
The NS Series is also seen as a strategic addition to the company's R3 Program, which focuses on renovating storage units and enhancing security measures. Troy Bix, President of the R3 division, stated that these new products reinforce Janus's position as a provider of top-tier security solutions in the self-storage industry.
Janus International Group is known for its comprehensive range of products for the self-storage sector, including doors, hallway systems, and facility automation technologies. They operate multiple facilities across the United States and internationally.
The information in this article is based on a press release statement from Janus International Group, Inc.
In other recent news, Janus International Group announced steady growth in its first quarter 2024 earnings and the acquisition of Terminal Maintenance and Construction (TMC). The company reported a slight increase in Q1 revenue to $254.5 million, marking a 1% year-over-year growth. Adjusted EBITDA and net income also experienced increases of 8.3% and 17.8% respectively.
In addition to these developments, Janus has launched the Nokē Ion, a new addition to its smart locking system line. The company's self-storage segment also grew by 11%, attributing this growth to new construction. Janus anticipates 2024 revenue between $1.092 billion and $1.125 billion and adjusted EBITDA between $286 million and $310 million.
Meanwhile, the acquisition of TMC, a firm specializing in trucking terminal services, is expected to enhance Janus's project management capabilities and support its strategic growth initiatives.
These recent developments indicate steady progress and strategic expansion for Janus International Group.
InvestingPro Insights
Janus International Group, Inc. (NYSE: JBI) has recently caught the attention of the market with the launch of its innovative NS Series roll-up doors, aimed at enhancing self-storage security. The company's strategic focus on product development and customer security is mirrored in its financial health and market performance. An InvestingPro Tip suggests that Janus is trading at a low P/E ratio relative to near-term earnings growth, which could indicate that the stock is undervalued given its growth prospects. Additionally, Janus has shown a significant return over the last week, with a 9.24% increase, reflecting positive investor sentiment following recent developments.
InvestingPro Data further reveals that Janus has a market capitalization of 1950M USD and operates with a moderate level of debt, which may provide them with the financial flexibility to continue investing in product innovation and expansion. The company's P/E ratio stands at 13.95, and when adjusted for the last twelve months as of Q1 2024, the ratio slightly improves to 13.49. Moreover, analysts predict the company will be profitable this year, which is supported by a solid revenue growth of 2.6% over the last twelve months as of Q1 2024.
For those interested in a deeper dive into Janus International Group's financials and future outlook, InvestingPro offers additional insights. There are seven more InvestingPro Tips available for JBI, which can be explored for a more comprehensive analysis. Readers looking to leverage these insights can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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