10:04 AM EDT, 10/29/2024 (MT Newswires) -- (Updates with recent stock movement in the headline and first paragraph.)

Janus International Group ( JBI ) shares were down about 29% in recent Tuesday trading after the company posted lower Q3 financial results that also missed expectations and cut its outlook for 2024 revenue.

The company reported fiscal Q3 adjusted earnings Tuesday of $0.11 per diluted share, down from $0.27 a year earlier.

Analysts surveyed by Capital IQ expected $0.20.

Revenue for the quarter ended Sept. 28 was $230.1 million, down from $280.1 million a year earlier.

Analysts polled by Capital IQ expected $248.2 million.

The company said it now expects 2024 revenue of $910 million to $925 million, compared with the previous guidance of $1.01 billion and $1.04 billion. Analysts surveyed by Capital IQ expect $1 billion.

Price: 7.33, Change: -2.99, Percent Change: -28.95