Janus International Group, Inc.

Hello, and welcome to the Janus International Group fourth quarter and full year 2022 earnings conference call. Currently, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star, then zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the call over to your host, Mr. John Rowling, Vice President, Investor Relations, and FP&A for Janus. Thank you. You may begin.

Thank you, Operator, and thank you all for joining our earnings conference call. I'm joined today by our Chief Executive Officer, Ramey Jackson, and our Chief Financial Officer, Anson Wong. Before we begin, I would like to remind you that today's call may include forward-looking statements. Any statements made describing our beliefs, goals, plans, strategies, expectations, projections, forecasts, and assumptions are forward-looking statements. Please note that the company's actual results may differ from those anticipated by such forward-looking statements for a variety of reasons, many of which are beyond our control. Please see our recent filings with the Securities and Exchange Commission, which identify the principal risks and uncertainties that could affect our business, prospects, and future results. We assume no obligation to update publicly any forward-looking statements and any forward-looking statement made by us during this call. is based only on information currently available to us and speaks only as of the date when it is made. In addition, we will be discussing or providing certain non-GAAP financial measures today, including adjusted EBITDA, adjusted EBITDA margins, adjusted net income, and adjusted earnings per share. Please see our release and filings for a reconciliation of these non-GAAP measures to their most directly comparable GAAP measure. We hope that you have seen our earnings release issued this morning. Please note that we have also posted a presentation in support of this call, which can be found in the investor section of our website. In addition, after the close of the market today, we will file an 8K, providing a 15-day extension for the filing of our 10K for the full year 2022. The company is unable to file its Form 10K within the prescribed time period without unreasonable effort or expense because it requires additional time to complete its procedures relating to its year-end financial reporting and auditing process. Importantly, the extension is not expected to have any impact to our 2022 financial results in the release or any historical period. On today's call, Ramey will provide an overview of our business. Anselm will continue with a discussion of our financial results and introduce our 2023 guidance. Ramey and Anselm will then discuss our long-term strategy and financial objectives before we open up the call for your questions. At this point, I will turn the call over to Ramey.

Thank you, John. Before I get into a discussion about our record results, I'd like to take a minute to recap Janice's highlights and accomplishments in 2022. A year of accelerating momentum, improving profitability, rapidly leveraging, and most importantly, outstanding execution. We could not be prouder of our employees' dedication, hard work, and contributions to our fantastic results. Early 22 presented a challenging operational backdrop. We were experiencing rapid increases in our steel prices and other inflationary pressures on our inputs, while the lagging nature of our order book meant that commercial actions we put in place to address such pressures took time to offset. We took steps that yielded improvements in revenues and EBITDA margins each quarter of 2022. The results were driven by a combination of organic and acquired top line growth, commercial actions, working off legacy price contracts, and relentless focus on cost control. We have built this organization through a combination of outstanding organic growth and smart strategic M&A. One of our four key focus areas in 2022 was the integration of DBCI and ACT, which we acquired in the second half of 2021. Both operations immediately began to contribute to our consolidated results, and I'm happy to report that the integration process is now complete, coming in faster with greater overall synergies than we had originally forecasted. In 2022, we celebrated our 20-year anniversary, growing from a small office space in Temple, Georgia, to what is now a scale of operations that includes 17 manufacturing and distribution plants, over 10,000 active customers, over 1,500 employees around the world, and revenues in excess of $1 billion annually. We continue to enhance our capabilities of our Nokia Smart Entry offering and to expand our go-to-market strategy. Nokia is a growing part of the suite of overall solutions we provide to the self-storage industry, and we look forward to providing a few updates on our progress later on this call. And finally, we delivered strong financial results, raising and exceeding financial guidance throughout the year and delivering full year revenues that was up 36% in just over $1 billion in adjusted EBITDA growing 53% to $227 million. This drove our year-end net leverage to a record since going public of 2.8 times, down over a turn and a half versus the end of 2021. and comfortably within our previous target range. We are excited that in 2022, we were able to build on the momentum with record results, strong cash flow, while significantly and rapidly deleveraging the company. We look forward to expanding our strong market position to capture additional share and create long-term value for all of our stakeholders in 2023 and beyond. With that, I will turn the call over to Anselm for an overview of our results for the quarter and the full year along with our initial 2023 guidance. Anselm?