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JELD-WEN Holding, Inc. (NYSE: JELD) is one of the world's largest manufacturers of high-quality doors and windows. Headquartered in Charlotte, North Carolina, the company designs, produces, and distributes a broad range of interior and exterior building products. JELD-WEN operates in 25 countries with 116 manufacturing facilities primarily located in North America, Europe, and Australia.
Founded in 1960, JELD-WEN has grown to become a trusted name in the building industry, providing reliable and innovative solutions for new construction, repair, and remodeling projects in both residential and non-residential sectors. The company's extensive product portfolio includes wood, vinyl, and aluminum windows, as well as a variety of doors and related building products. These offerings have earned numerous awards and endorsements for dependability, energy efficiency, and overall excellence.
JELD-WEN is committed to sustainability and has been an ENERGY STAR® partner since 1998. This dedication to energy efficiency is evident in their products, which help builders, architects, and homeowners create environmentally friendly living spaces.
In recent years, JELD-WEN has focused on enhancing profitability and cash flow through strategic actions and cost reductions. Despite the dynamic and sometimes challenging macroeconomic environment, the company has achieved significant milestones, including the sale of its Australasia segment and continued improvements in operating margins.
Financially, JELD-WEN has shown resilience. For the fiscal year 2023, the company reported net revenues of $4.3 billion with a net income from continuing operations of $25.2 million. Adjusted EBITDA was $380.4 million, reflecting the company's ability to manage costs and improve efficiency. JELD-WEN's management has also guided for 2024 revenues between $4.0 to $4.3 billion, demonstrating cautious optimism in the face of market uncertainties.
JELD-WEN's culture emphasizes purpose, vision, and values, which are reflected in the daily actions of its approximately 18,000 employees worldwide. The company continues to innovate and invest in its operations to deliver high-performance products that ensure beauty, security, and sustainability for its customers. To stay updated on JELD-WEN's latest news and developments, visit their Investor Relations page and follow their updates on LinkedIn.
For more detailed financial information and to participate in their earnings calls, visit this link.
On April 17, 2023, Platinum Equity announced its acquisition of JELD-WEN's Australasia windows and doors business for approximately $461 million. The deal is expected to be finalized in the third quarter of 2023, pending regulatory approvals. With around 5,000 employees and 41 manufacturing locations across Australia, Malaysia, and Indonesia, JELD-WEN Australasia boasts well-known brands like Corinthian® and Stegbar®. Platinum Equity emphasizes its capability in managing corporate carve-outs, aiming to maximize the potential of JELD-WEN's Australasia operations. The investment is positioned to enhance market dynamics and customer solutions in a competitive housing market.
On April 17, 2023, JELD-WEN Holding (NYSE: JELD) announced the completion of its strategic review for its Australasia business, agreeing to sell it to Platinum Equity for approximately AU$688 million (around US$461 million) before tax. This sale represents about 11% of JELD-WEN's global revenue and includes 41 manufacturing locations across Australia, Malaysia, and Indonesia, employing roughly 5,000 people. The transaction, expected to close in the third quarter of 2023, aims to streamline operations and reduce debt. JELD-WEN will report the Australasia business as discontinued in its second fiscal quarter following closure.
JELD-WEN Holding, Inc. (NYSE: JELD) announced that it will release its first quarter 2023 results after market close on May 8, 2023. A conference call to discuss the results is scheduled for 8 a.m. ET on May 9, 2023. Investors can access the call via webcast on the company's investor relations website or by dialing 888-330-2446 in the U.S. or +1-240-789-2732 internationally, using conference ID 1285715. A replay of the call will be available shortly after its conclusion.
JELD-WEN specializes in high-performance building products, offering a variety of windows, doors, and wall systems to enhance productivity and sustainability.
JELD-WEN Holding, Inc. (NYSE: JELD) reported a 7.5% increase in full-year revenue, totaling $5.13 billion, due to 12% Core Revenue growth despite a 5% adverse foreign exchange impact. The fourth quarter net revenue rose 3.5% to $1.33 billion, with net income at $33.6 million or $0.40 per share. Full-year net income fell to $45.7 million or $0.53 per share, a decline from the prior year's $168.8 million. The company set its 2023 guidance, forecasting revenue between $4.5 billion and $4.9 billion amid expectations of declining demand across markets.
JELD-WEN Holding, Inc. (NYSE: JELD), a leading manufacturer of building products, will participate in the Barclays Industrial Select Conference on February 23, 2023. CEO William J. Christensen and CFO Julie C. Albrecht will engage in a fireside chat at 9:45 am ET. The live webcast will be accessible via investors.jeld-wen.com, with a replay available for 180 days post-event. JELD-WEN offers a diverse range of high-performance building products and emphasizes sustainability and customer satisfaction.
JELD-WEN Holding, Inc. (NYSE: JELD) will announce its fourth quarter and full year 2022 results on February 21, 2023, before market opening.
A conference call will be held at 8 a.m. ET the same day to discuss the results. Investors can access the call through a webcast or by dialing 888-330-2446 in the U.S. or +1-240-789-2732 internationally.
A replay will be available shortly after the call on the company's website. JELD-WEN specializes in durable, energy-efficient building products.
JELD-WEN Holding, Inc. has appointed William J. Christensen as CEO, effective immediately, following an extensive search process. Christensen, who previously served as EVP and President of JELD-WEN Europe, joined the company in April 2022. He has significant experience, having led major transformations at REHAU AG and Arbonia AG. Kevin C. Lilly, the interim CEO, will now become EVP of Global Transformation, overseeing enterprise initiatives and European operations. The leadership changes aim to enhance competitive positioning and drive value for stakeholders.
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