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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.
JELD-WEN Holding, Inc. (NYSE: JELD) will release its fourth quarter and full year 2021 results before the market opens on February 22, 2022. A conference call to discuss these results is scheduled for 8 a.m. EST on the same day. Interested parties can access the call via webcast on the company’s Investor Relations page or by dialing (888) 330-2446 with conference ID 1285715. A replay will be available shortly after the live event.
On December 2, 2021, JELD-WEN unveiled innovations in its IWP® Aurora® Custom Fiberglass Doors to meet rising consumer demand due to strong new home sales and renovations. According to market research, the door systems market is expected to grow in the coming years, driven by evolving lifestyles and technology. JELD-WEN's new luxury fiberglass doors mimic real wood, offering customization options and durability. The company emphasizes the importance of exterior doors in creating a lasting impression, enhancing curb appeal. The refreshed line features various styles and finishes, catering to diverse consumer preferences.
JELD-WEN Holding, Inc. (NYSE:JELD) reported Q3 2021 net revenue of $1,146.6 million, a 3% increase compared to last year, with net income rising to $40.5 million. Adjusted EBITDA fell 24.4% to $98.9 million. The company noted strong order growth and a significant 7% pricing benefit, though volume was impacted by labor and supply chain issues. Share repurchases totaled $221.1 million for about 8 million shares. JELD-WEN re-affirmed its full-year revenue growth outlook of 10%-12% but revised adjusted EBITDA expectations due to inflation pressures.
The board of directors of JELD-WEN Holding has appointed Gary S. Michel as chairman, effective immediately. Michel, who has been with the company since 2018, replaces Matthew Ross, who is stepping down. Suzanne Stefany has been named lead independent director. Michel expressed pride in his new role and highlighted the company’s growth strategy. With Ross and Anthony Munk from Onex stepping down, the board now consists of nine members. Michel brings over 35 years of experience in strategy and operations, previously leading units at Honeywell and Ingersoll Rand.
JELD-WEN Holding, Inc. (NYSE:JELD) updated its outlook for full year 2021, anticipating revenue growth of 10% to 12%, down from the previous 12% to 14% due to labor constraints and supply chain disruptions. Adjusted EBITDA is now expected to be between $470 million and $490 million, compared to an earlier estimate of $510 million to $535 million. Despite these challenges, demand remains strong across all segments, with a record book-to-bill ratio in North America. The third quarter earnings release is scheduled for November 1, 2021.
JELD-WEN Holding, Inc. (NYSE: JELD) announced a secondary offering of 14,883,094 shares, managed by Onex Corporation and affiliates. JELD-WEN will not sell shares or receive proceeds from the offering. However, the company intends to repurchase approximately $200,000,000 of its common stock from this offering. The share price will match what underwriters pay for the shares. J.P. Morgan Securities LLC serves as the sole underwriter. The offering is registered under an automatic shelf statement filed with the SEC.
JELD-WEN Holding, Inc. (NYSE: JELD) has appointed Colleen Penhall as vice president of global corporate communications. With over 20 years of experience, Penhall previously served as chief communications and marketing officer at UNC Charlotte and held leadership roles at Lowe's and Bank of America. She will report to Tim Craven, executive vice president of human resources, and is expected to enhance the company's communication strategy as it continues its growth trajectory.
JELD-WEN Holding, Inc. (NYSE:JELD) reported robust second-quarter results for 2021, with net revenue reaching $1,245.8 million, marking a 25.5% increase.
Net income surged to $60.7 million, up from $23.1 million year-over-year, while earnings per share climbed to $0.60. Core revenue growth was driven by a 19% increase, aided by strong volume and pricing. The company enhanced its share repurchase program to $400 million and successfully refinanced debt.
Outlook for 2021 was raised, anticipating 12% to 14% net revenue growth.
JELD-WEN Holding (NYSE:JELD) has announced participation in two upcoming virtual conferences. Chief Financial Officer John Linker will join the Jefferies Virtual Industrials Conference on August 3, 2021, at 8:30 a.m. EDT. Meanwhile, President and CEO Gary S. Michel will participate in the Barclays Select Series on August 10, 2021, at 8:00 a.m. EDT. Audio webcasts for both events, along with replays, will be available on the company's investor relations website.
JELD-WEN Holding, Inc. (NYSE: JELD) will announce its second quarter 2021 results on August 2, 2021, before market opening. A conference call is scheduled for 8 a.m. EDT that day to discuss the results. Investors can join the call via webcast on the company's Investor Relations page or by dialing (833) 921-1640 with conference ID 2193734. A replay will be available on the website shortly after the call concludes.
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