Welcome to our dedicated page for Jeld Wen Holding news (Ticker: JELD), a resource for investors and traders seeking the latest updates and insights on Jeld Wen Holding stock.
JELD-WEN Holding, Inc. manufactures and distributes interior and exterior doors, windows and related building products for new construction and repair and remodeling markets. Its news centers on operating results, guidance, segment performance in North America and Europe, and demand indicators such as volume/mix, price-cost trends and foreign exchange.
Company updates also cover cost-reduction actions, portfolio reviews involving regional businesses, governance and financial reporting leadership, and the brand portfolio that includes JELD-WEN, LaCantina, VPI, Swedoor and DANA.
JELD-WEN Holding announced the appointment of Samantha L. Stoddard as the new EVP and Chief Financial Officer, effective July 1, 2024. Stoddard, who currently serves as North America CFO and head of global financial planning and analysis, will succeed Julie C. Albrecht. Albrecht will step down on June 30, 2024, and remain in an advisory role for a smooth transition. Stoddard has been with JELD-WEN since 2020 and previously held senior finance roles at Honeywell and other companies. CEO William J. Christensen praised her leadership and expertise, indicating confidence in her ability to contribute to the company's strategy of simplification and value creation.
JELD-WEN Holding, Inc. reported first-quarter 2024 results with net revenues declining by 11.2% to $959.1 million, driven by lower volume/mix due to weak macro-economic conditions. The company posted a net loss of $(27.7) million, or $(0.32) per share, compared to a profit during the same period last year. Adjusted EBITDA decreased to $68.7 million. The company updated its full-year 2024 guidance, lowering revenue expectations to $3.9-$4.1 billion with a 5-9% decline in Core Revenues compared to 2023. Adjusted EBITDA is expected to be $340-$380 million due to a softened macro-environment.
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