JELD-WEN ( (JELD) ) has released its Q3 earnings. Here is a breakdown of the information JELD-WEN presented to its investors.
JELD-WEN Holding, Inc. is a global leader in the design, manufacture, and distribution of high-performance doors, windows, and related building products, serving the construction and remodeling sectors with operations in North America and Europe.
In its third-quarter 2024 earnings report, JELD-WEN announced a notable decline in net revenues and an operating loss, attributed to challenging macroeconomic conditions and a shift in demand towards more entry-level products. The company reported a net loss from continuing operations compared to a profit in the same period last year, highlighting significant impacts from a goodwill impairment charge.
Key financial metrics revealed a 13.2% drop in net revenues to $934.7 million, largely due to a decrease in volume and mix. The company’s adjusted EBITDA margin from continuing operations also decreased, reflecting higher costs and lower demand. North America saw a 14.2% revenue decline, while Europe experienced a 10.4% drop, exacerbated by a $63.4 million goodwill impairment charge in the European segment.
Despite these challenges, JELD-WEN’s management remains committed to its transformation journey, focusing on cost alignment with market conditions and preparing for future growth. The company reduced its full-year 2024 revenue guidance, reflecting expectations of continued market softness. Looking forward, JELD-WEN aims to navigate these headwinds while positioning itself for success with strategic initiatives and operational adjustments.
