Janus International Group Inc

We maintain a bearish stance across the medium term under Stage 4 decline, with lower highs and lower lows confirming ongoing downtrend. Execution is best deferred, selling into rallies toward resistance at the declining EMA band.

• ↑$48.3 M operating cash flow and 170% FCF conversion indicate robust cash generation
• ↑R3 renovation initiative drives backlog growth as owners prioritize facility upgrades
• ↓Adjusted EBITDA down 42.1% YoY reflects diminished profitability and cost leverage