AcquisitionsMay 12, 2026, 04:14 PM
Janus International Acquires Kiwi II for $97.2M; Q1 Net Income $0.2M
AI Summary
Janus International Group reported its first-quarter 2026 financial results, alongside the significant acquisition of Kiwi II Construction for $97.2 million in cash. While total revenues increased by 5.8% to $222.7 million, net income plummeted to $0.2 million from $10.8 million in the prior year, resulting in basic and diluted EPS of $0.00. The company also repurchased $15.5 million of common stock during the quarter.
Key Highlights
- Acquired Kiwi II Construction for $97.2M cash on January 8, 2026.
- Reported Q1 total revenues of $222.7M, up 5.8% from $210.5M year-over-year.
- Net income for Q1 was $0.2M, a significant decrease from $10.8M in prior year.
- Basic and diluted EPS were $0.00, down from $0.08 in the same period last year.
- Gross profit decreased by 8.2% to $75.2M from $81.9M year-over-year.
- Cash and cash equivalents decreased to $112.0M from $194.4M at year-end.
- Repurchased $15.5M of common stock in Q1 2026, up from $5.0M in Q1 2025.
- Recognized $44.2M in goodwill and $40.1M in identifiable intangible assets from acquisition.