Matthew Bouley - Barclays Tim Wojs - Baird Operator Thank you for standing by. My name is Maria, and I will be your conference operator today. At this time, I would like to welcome everyone to the JELD-WEN Holding, Inc.'s Second Quarter 2023 Earnings Conference Call. [Operator Instructions] I would now like to turn the call over to Mr. James Armstrong, Vice President of Investor Relations. Mr. Armstrong, please go ahead. James Armstrong Thank you, and good morning. We issued our second quarter 2023 earnings ...

Long Term Profitable Growth People, Performance & Strategy 5 Sale of Australasia Business to Platinum Equity - Transaction expected to close in Q3 2023 ▪ Intend to use majority of proceeds to repay debt - Reduces Net Leverage Ratio to near-term goal of <3.0x (pro forma YE 2023) Completed Strategic Review Executing on Near-Term Strategy ▪ Simplifying JELD ▪ Strengthening the balance sheet - Focus on two largest segments, North America and Europe ▪ Provides focused growth capital for Australasia business Exec ...

JELD-WEN Holding, Inc. (NYSE:JELD) Q4 2022 Results Earnings Conference Call February 21, 2023 8:00 AM ET Company Participants James Armstrong - Vice President of Investor Relations William Christensen - Chief Executive Officer Julie Albrecht - Executive Vice President and Chief Financial Officer Conference Call Participants Susan Maklari - Goldman Sachs Keith Hughes - Truist Securities John Lovallo - UBS Matthew Bouley - Barclays Capital Philip Ng - Jefferies Michael Dahl - RBC Capital Markets Michael Rehau ...

Julie Albrecht CFO Disclosures For a discussion of these risks and uncertainties, you should review our Annual Report on Form 10-K and our other filings with the Securities and Exchange Commission. 3 | --- | --- | |-------|-------| | | | | | | | | | Near-Term Performance Improvement Actions Focus on improving JELD-WEN's competitive position Fourth Quarter 2022 Results February 21, 2023 Bill Christensen CEO Certain statements in this presentation, including our guidance and business strategies, are forwardlo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ FORM 10-K __________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-38000 __________________________________ JELD-WEN Holding, In ...

Financial Data and Key Metrics Changes - The company reported revenue of $1.3 billion and adjusted EBITDA of $116.5 million, representing year-over-year increases of 13% and 18% respectively [22][41] - Adjusted EBITDA margin improved by 40 basis points to 9% due to favorable price cost, improved operating leverage, and positive productivity [41][42] - GAAP net loss for the quarter was $33.2 million, compared to net income of $40.5 million in the same period last year, primarily due to a $55 million non-cash goodwill impairment charge in the Europe segment [42] Business Line Data and Key Metrics Changes - North America led with a 23% increase in core revenue, driven by strong price realization and positive volume mix [23][46] - Europe experienced a 5.5% decrease in net revenue, impacted by foreign exchange headwinds, despite a 10% core revenue growth [48] - Australasia revenue increased almost 6%, with a 14% increase in core revenue, although negatively impacted by foreign exchange [50] Market Data and Key Metrics Changes - North America showed strong demand in windows, exterior doors, and company-owned distribution, while Europe faced deteriorating macroeconomic conditions due to the war in Ukraine and rising inflation [48][56] - The company anticipates a continued slowdown in the housing market across North America and Europe, with repair and remodel activity expected to fare better than new residential construction [56][58] Company Strategy and Development Direction - The company is focused on streamlining operations and improving financial performance, including a strategic review of its Australasia business [14][29] - Management aims to enhance execution and performance while preparing for the new CEO to lead the company effectively [18][21] - The company is committed to investing in projects that exceed internal return hurdles and reducing financial leverage [54][55] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in the near term due to persistent inflation and a softening housing market, but remains optimistic about long-term demand potential [20][24] - The company is taking decisive actions to improve results and ensure that the fundamental strength of the business translates into shareholder value creation [21][65] - Management reaffirmed full-year core revenue guidance of 10% growth but revised adjusted EBITDA expectations to between $400 million and $420 million due to inflation pressures [62][64] Other Important Information - The company ended the quarter with total cash of $200 million and liquidity of $560 million, with net debt leverage decreasing to 3.6 times [53] - The company is focused on improving working capital and expects to generate positive free cash flow in the fourth quarter [52] Q&A Session Summary Question: What drove the elevated SG&A and overall corporate expense in the quarter? - Higher SG&A expenses were driven by timing and amounts related to incentive compensation and increased medical claim expenses, with expectations for normalization in Q4 [68][70] Question: Are you looking for individuals with building products or industrial experience in your CEO search? - While building products experience is advantageous, the right level of broad experience and leadership capabilities is also considered [71][72] Question: Can you break out the magnitude dollar amount based on higher inflation and reduced expectations for productivity savings? - The inflation impact in the second half is expected to be more negative, with energy prices contributing significantly to the increase [76][78] Question: What are your expectations for North America volume in Q4? - North America volumes are expected to decline in the low to mid-single-digit range, reflecting a slowdown in residential construction [90][91] Question: How do you expect raw materials inflation to impact the P&L next year? - The company is not prepared to comment on detailed outlooks for next year as they are currently working through the budgeting process [99] Question: Which categories within the distribution channel do you think have excess inventory? - Excess inventory is noted in categories such as exterior and interior doors, with efforts to balance inventory levels with customer demand [105] Question: How do you think about the mix shift between custom versus stock products? - The mix is dynamic, with a focus on the Pro custom segment, but no specific trends were identified [116] Question: What are your plans for managing productivity and optimizing your footprint? - The company is focused on driving accountability within regions and plants, with plans to provide stronger updates on productivity management in future quarters [120][121]

JELD-WEN Holding, Inc. (NYSE:JELD) Q2 2022 Earnings Conference Call August 1, 2022 8:00 AM ET Company Participants Christopher Teachout - Director of Investor Relations Gary Michel - Chief Executive Officer David Guernsey - Executive Vice President Conference Call Participants John Lovallo - UBS Matthew Bouley - Barclays Michael Rehaut - JPMorgan Stanley Elliott - Stifel Deepa Raghavan - Wells Fargo Securities Susan Maklari - Goldman Sachs Mike Dahl - RBC Capital Markets Josh Chan - Baird Phil Ng - Jefferie ...

Financial Data and Key Metrics Changes - In Q4 2021, net revenue increased by 11.8% to $1.3 billion, driven by improvements in pricing and volume mix [23] - Full-year net revenue reached $4.8 billion, marking a 12.7% increase overall and a 10% increase on a core basis, excluding foreign exchange impacts [24] - Adjusted EBITDA for Q4 improved by 4.0% to $120.1 million, while adjusted EBITDA margin compressed due to inflation [23][24] - EPS and adjusted EPS increased by 7% to $0.45 and $0.48 respectively [23] Business Line Data and Key Metrics Changes - North America core revenue grew by 15% in Q4, driven by improved volume throughput and pricing actions [11] - Europe saw a core revenue increase of 10%, significantly driven by sequential improvements in price realization [13] - Australasia's core revenue grew by 6%, with the highest adjusted EBITDA margin at 14.7%, improving by 100 basis points [13] Market Data and Key Metrics Changes - Demand remained strong across all end markets, particularly in new housing starts and the R&R markets [10] - North America exited December with revenue growth above 20% and a book-to-bill ratio of approximately 1.07 [29] - In Europe, revenue increased by 7.7% overall, with labor availability impacting volume throughput due to COVID-19 [30] Company Strategy and Development Direction - The company is focused on operational and commercial excellence initiatives to drive long-term growth, leveraging a premier performance culture [6] - Plans for 2022 include new customer-centric innovation launches, capacity expansion, and channel initiatives to accelerate top-line growth [14] - The company aims to enhance market penetration in Europe and introduce new products, such as technical doors in the UK and ENERGY STAR-rated products in Australia [16][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in favorable housing fundamentals across all regions, expecting continued strong demand for products in 2022 [36] - The company anticipates total consolidated revenue growth between 7% and 10% for 2022, supported by core growth from all segments [39] - Management acknowledged challenges from inflation but emphasized the ability to offset these through pricing actions and operational efficiencies [28][39] Other Important Information - The company repurchased $45.7 million of its stock in Q4, totaling nearly $325 million for the year, representing approximately 11.5% of shares outstanding [11] - Adjusted operating cash flow totaled $288.4 million for 2021, a decrease primarily due to higher cash usage for working capital [33] - The balance sheet remains strong, with a cash balance of $395.6 million and liquidity of $837.8 million at the end of Q4 [34] Q&A Session Summary Question: Can you discuss specific levers to hit 2022 margin targets? - Management highlighted strong markets, pricing to offset inflation, and investments in growth initiatives as key drivers for margin improvement [44][46] Question: What is the magnitude of new price increases in 2022? - Management confirmed that carryover from 2021 price increases is included in the outlook, with no notable shift towards lower-priced products observed [47][48] Question: Are you factoring in any slowdown in the North American segment due to interest rates? - Management noted a strong demand backdrop in North America, with no current signs of slowdown from interest rate movements [51][52] Question: Can you elaborate on site transformation efforts? - Management plans to deploy three times the number of rapid improvement events across operations, focusing on enhancing capacity and productivity [62][66] Question: What are the expectations for cost inflation this year? - Management expects year-over-year inflation throughout 2022 but does not anticipate worsening inflation from current levels [111]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ FORM 10-K __________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-38000 __________________________________ 2645 Silver Crescent ...

JELD-WEN Holding, Inc. (NYSE:JELD) Q3 2021 Results Earnings Conference Call November 1, 2021 8:00 AM ET Company Participants Chris Teachout - Director of Investor Relations Gary Michel - Chairman, President and Chief Executive Officer John Linker - Executive Vice President and Chief Financial Officer Conference Call Participants Deepa Raghavan - Wells Fargo Securities Truman Patterson - Wolfe Research Matthew Bouley - Barclays Susan Maklari - Goldman Sachs Steven Ramsey - Thompson Research Group Philip Ng - ...