JELD-WEN ( (JELD) ) has released its Q1 earnings. Here is a breakdown of the information JELD-WEN presented to its investors.
JELD-WEN Holding, Inc. is a global leader in designing, manufacturing, and distributing high-performance doors, windows, and related building products, serving both the new construction and repair and remodeling sectors. The company operates in North America and Europe, employing approximately 16,000 associates.
In its first quarter of 2025, JELD-WEN reported a significant decline in financial performance, with net revenues falling by 19.1% to $776 million compared to the same period last year. The decrease was largely attributed to a court-ordered divestiture and a 15% decline in core revenue due to lower volume and mix amid challenging macroeconomic conditions.
The company registered a net loss of $179.8 million, a substantial increase from the $27.7 million loss in the previous year. This was primarily due to a $125 million non-cash goodwill impairment charge in North America, lower sales volume, and costs associated with the company’s ongoing transformation efforts. Adjusted EBITDA also saw a sharp decline, dropping to $21.9 million from $68.7 million the previous year, reflecting lower productivity and increased costs.
Despite these challenges, JELD-WEN’s management remains focused on executing its transformation strategy, aiming to improve quality and service levels. The company anticipates further gains in the second quarter, although it acknowledges the limited visibility in the current economic environment. JELD-WEN is committed to partnering with customers and positioning itself for long-term success.