The company said “JELD-WEN is maintaining its 2024 revenue guidance to a range of $3.9B-$4.1B which reflects Core Revenues that are down 5% to 9% compared to 2023. Further, the Company continues to expect that 2024 Adjusted EBITDA will be within the range of $340M-$380M. However, both of these metrics are currently trending towards the low end of the range due to increasing macroeconomic weakness. Due to this trend, along with a higher end-of-year inventory assumption, the Company is lowering its 2024 Operating Cash Flow guidance to approximately $200M from $225M previously.
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