By Katherine Hamilton
Janus International Group shares climbed after the company's fourth-quarter revenue and outlook were stronger than expected.
The stock rose 10% to $8.90 on Wednesday morning, adding to a 20% increase over the past three months. Shares are still recovering from a nose-dive in October after Janus said third-quarter revenue had plunged and it would cut jobs and overhaul its cost structure.
The self-storage company's tune changed in its fourth-quarter report Wednesday morning. It said it expects to make $860 million to $890 million in revenue during 2025. Although that would be a decline from 2024, it outpaces Wall Street's estimates of $849.8 million.
Janus also guided for adjusted earnings before interest, taxes, depreciation, and amortization of $175 million to $195 million, ahead of analysts' forecast of $173.4 million, according to FactSet.
Revenue in 2024 was $963.8 million, above the expected $918.2 million. Fourth-quarter sales of $230.8 million were about $46 million above expectations.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
February 26, 2025 11:36 ET (16:36 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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