Jeld Wen Holding - JELD STOCK NEWS

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.

On November 15, 2022, JELD-WEN announced the appointment of James Armstrong as vice president of investor relations. With over 15 years of experience in investment analysis, Armstrong previously held a similar role at WestRock Company. He aims to enhance transparency and provide valuable insights to the investment community. Armstrong expressed enthusiasm for joining JELD-WEN, highlighting the company's competitive advantages and potential for increasing shareholder value. This strategic hire is expected to positively impact investor relations as the company evolves.

JELD-WEN Holding, Inc. (NYSE: JELD) reported a net revenue increase of 13.0% for Q3 2022, totaling $1,295.8 million, driven by 18% core revenue growth. However, the company faced a GAAP net loss of $33.2 million due to a $54.9 million goodwill impairment in the Europe segment. Adjusted earnings per share improved to $0.71, up from $0.45 a year prior. Full-year guidance for adjusted EBITDA has been revised down to $400-$420 million, reflecting ongoing challenges like inflation and supply chain disruptions.

JELD-WEN Holding, Inc. (NYSE: JELD) will announce its third quarter 2022 results on October 31, 2022, prior to market opening. The company plans a conference call at 8 a.m. ET on the same day to discuss the financial results. Interested parties can access the call via webcast on the company's investor relations website or by dialing (888) 330-2446 with conference ID 1285715. A replay will be available shortly after the live event. JELD-WEN specializes in manufacturing high-performance building products, including windows and doors.

JELD-WEN Holding, Inc. has announced the appointment of Catherine A. Halligan to its board of directors, effective September 5, 2022. This addition brings the board's total to eight members, four of whom are women, and seven independent. Halligan brings extensive experience in digital transformation and marketing, previously serving as senior vice president at PowerReviews and holding significant roles at Walmart.com and other companies. Her expertise is expected to enhance JELD-WEN's focus on delivering exceptional customer experiences.

JELD-WEN Holding, Inc. (NYSE: JELD) has announced a strategic review of its Australasia business, which contributes approximately 10% to global revenues. This initiative aims to maximize shareholder value and streamline operations. The Australasia segment, recognized for its strong market position, includes 41 manufacturing locations across Australia, Malaysia, and Indonesia, employing around 5,000 people. JELD-WEN has engaged Macquarie Capital and Herbert Smith Freehills as advisors for this review, though no timeline or outcome is guaranteed.

JELD-WEN Holding, Inc. announced leadership changes, accepting the resignation of Gary S. Michel as chair and CEO. In his place, Kevin C. Lilly, previously executive VP and CIO, has been appointed as interim CEO. David G. Nord has been elected chair of the Board of Directors. The Board has commenced a comprehensive search for a permanent CEO, evaluating both internal and external candidates. The company emphasizes a commitment to delivering long-term shareholder value and a seamless transition during this period.

JELD-WEN announced its Q2 2022 financial results, reporting net revenue of $1.331 billion, a 6.8% increase year-over-year, driven by 11% core revenue growth. However, net income fell to $45.8 million from $60.7 million due to cost inflation. Adjusted EBITDA decreased 15.1% to $125.8 million. The company announced a $200 million share repurchase authorization, but revised its full-year revenue growth outlook to 4%-6% from 7%-10%. Management acknowledged challenges from inflation and lower retail demand but remains confident in long-term growth strategies.