The latest update is out from JELD-WEN ( (JELD) ).
JELD-WEN Holding, Inc. reported a challenging third quarter of 2024 with net revenues dropping by 13.2% to $934.7 million due to weak macro-economic conditions and a shift in demand towards entry-level products. The company faced a net loss of $73 million, driven by lower sales volume and a non-cash goodwill impairment charge in Europe. Despite these setbacks, CEO William J. Christensen remains optimistic about the company’s transformation efforts and future growth potential, aiming for improved efficiency amidst soft market conditions. JELD-WEN has revised its full-year revenue and EBITDA guidance downwards, reflecting ongoing market challenges.
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