Jeld Wen Holding Stock Price, News & Analysis

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.

JELD-WEN Holding, a global building products manufacturer, announced the release of its second quarter 2022 results before market opening on August 1, 2022. A conference call will follow at 8 a.m. ET to discuss these results. Interested parties can access the call through the investor relations section of the company’s website or by phone. The company's focus remains on providing durable and energy-efficient products to enhance productivity for construction professionals.

JELD-WEN has launched its new Auraline® True Composite line of windows and patio doors, designed to meet market demands for an alternative to traditional vinyl and wood. This innovative product offers the beauty of wood while providing greater durability and ease of maintenance. The Auraline line features GREENGUARD Gold certification and is twice as rigid as vinyl, promoting better strength and aesthetics. With up to 28% more visible glass and nearly 40% greater energy efficiency than standard options, Auraline aims to fulfill a critical gap for homebuilders and homeowners nationwide.

JELD-WEN Holding, Inc. (NYSE:JELD) announced the appointment of Julie C. Albrecht as the new Executive Vice President and Chief Financial Officer, effective July 18, 2022. Albrecht joins from Sonoco, where she served as CFO with 2021 sales of $5.6 billion. She replaces interim CFO David Guernsey, who will take on a different leadership role. With over 30 years of experience in finance, Albrecht aims to enhance JELD-WEN's financial performance and growth strategy, focusing on market share and shareholder value.

JELD-WEN has appointed John T. Krause as Senior Vice President and General Manager for North America, effective May 25, 2022. He will replace Daniel Castillo, who is departing the company. Krause brings over 25 years of experience in management, marketing, finance, and operations, previously leading the North America windows business. CEO Gary S. Michel praised Krause's track record and emphasized the company’s focus on enhancing customer experience and driving revenue growth.

JELD-WEN Holding, Inc. reported its Q1 2022 results, highlighting net revenue of $1,171.0 million, a 7.2% increase year-over-year, driven by 10% core revenue growth. The company faced a net loss of $0.5 million, a significant drop from net income of $25.5 million in Q1 2021, attributed to rising raw material, freight, and labor costs. Adjusted EBITDA fell 18.0% to $80.2 million. Despite these challenges, JELD-WEN remains optimistic about future growth, emphasizing strong order books and margin expansion initiatives.