Company Overview - JELD-WEN Holding, Inc. is a leading global designer, manufacturer, and distributor of high-performance interior and exterior doors, windows, and related building products [3] - The company serves both the new construction and repair and remodeling sectors [3] - JELD-WEN operates facilities in 14 countries across North America and Europe, employing approximately 16,000 associates [3] Upcoming Financial Results - JELD-WEN will release its first quarter 2025 results after the market close on May 5, 2025 [1] - A conference call to discuss the results will take place at 8 a.m. EST on May 6, 2025 [1] Accessing the Conference Call - Interested parties can access the call via webcast on the company's Investor Relations website or by dialing specific numbers for the U.S. and international participants [2] - A replay of the call will be available on the company's website approximately two hours after the live event [2]

Financial Performance - The company reported net revenues of $3,776 million for the year ended December 31, 2024[27]. - Net revenues decreased by $528.7 million, or 12.3%, to $3,775.6 million for the year ended December 31, 2024, compared to $4,304.3 million in 2023[228]. - Net revenues decreased by $239.5 million, or 5.3%, to $4,304.3 million in the year ended December 31, 2023, compared to $4,543.8 million in 2022, driven by a 5% decrease in Core Revenues[239]. - The company reported a net loss from continuing operations of $(187,580) for the year ended December 31, 2024[257]. - The effective tax rate for the year ended December 31, 2023, was 71.5%, significantly higher than 59.6% in 2022, primarily due to a $32.7 million net valuation allowance[247]. - The company reported a net income of $62.4 million in 2023, compared to $45.7 million in 2022, reflecting an increase of 36.6%[238]. Revenue Sources - Door sales accounted for 63% of net revenues, while window sales contributed 20% and other products accounted for 17%[33]. - Approximately 46% of the company's net revenues in 2024 came from its top ten customers, with The Home Depot and Lowe's representing 16% and 12% of consolidated net revenues, respectively[52]. - The percentage of total consolidated net revenues from North America was 71.7% in 2024, down from 72.6% in 2023[261]. Cost and Expenses - Gross margin decreased by $143.6 million, or 17.3%, to $689.0 million, with a gross margin percentage of 18.2% in 2024, down from 19.3% in 2023[229]. - SG&A expenses decreased by $2.8 million, or 0.4%, to $652.5 million, with SG&A as a percentage of net revenues increasing to 17.3% in 2024 from 15.2% in 2023[230]. - Restructuring and asset-related charges increased by $32.4 million, or 90.5%, to $68.1 million in 2024, primarily due to facility closures in North America and Europe[232]. Market Conditions - The North America segment is expected to face headwinds in 2025 due to high interest rates and inflation in labor, freight, and raw materials[40]. - The European market is anticipated to experience softness in residential and non-residential markets in 2025 due to economic weakness and high interest rates[41]. Operational Insights - The company operates 79 manufacturing and distribution facilities across 14 countries, focusing on optimizing its global footprint to enhance performance and profit margins[29]. - The company has a diversified business model serving both new construction and repair and remodel sectors[25]. - The company’s manufacturing processes are vertically integrated, which enhances capabilities and quality control while providing supply chain savings[31]. - The company has made significant investments in innovation and product development to meet customer needs and market trends[34]. - The company is focused on disciplined capital allocation and working capital management to maximize shareholder returns[35]. Environmental and Regulatory Matters - The company is subject to extensive environmental, health, and safety laws and regulations across its global operations, which may impact financial position[65]. - The company’s operations involve handling hazardous wastes, exposing it to potential liabilities and claims associated with contamination[66]. - The company has been involved in environmental regulatory actions, but does not expect these to materially affect its financial position[67]. - The company continues to evaluate and modify its manufacturing processes to further reduce environmental impact[64]. Employee Engagement and Development - The company is committed to employee engagement and development, with various programs aimed at attracting and retaining talent[61]. - The company’s organizational health is measured annually through a global employee survey, focusing on employee experiences and engagement levels[63]. Cash Flow and Liquidity - Total liquidity as of December 31, 2024, was $566.7 million, a decrease from $750.6 million as of December 31, 2023, primarily due to lower cash balances[274]. - Net cash provided by operating activities decreased by $239.0 million to $106.2 million in the year ended December 31, 2024, compared to $345.2 million in 2023[287]. - Net cash used in investing activities was $153.3 million in the year ended December 31, 2024, compared to cash provided by investing activities of $279.2 million in 2023, primarily due to $365.6 million proceeds related to the sale of JW Australia in 2023[289]. Debt and Financing - Outstanding debt balance as of December 31, 2024, was $1,192.0 million, with estimated interest payments of $72.9 million due in 2025 and $280.4 million due in 2026 and thereafter[285]. - In August 2024, the company issued $350.0 million of Senior Notes at 7.00% interest, proceeds used to repay $150.0 million of the Term Loan Facility and redeem $200.0 million of 4.63% Senior Notes[283]. Goodwill and Impairment - Goodwill impairment charges totaled $94.8 million in 2024, including $63.4 million related to the Europe reporting unit and $31.4 million for North America[231]. - The carrying amount of the Europe reporting unit exceeded its fair value, resulting in a goodwill impairment charge of $63.4 million in the third quarter of 2024[305]. - The company recorded a goodwill impairment charge of $54.9 million for the Europe reporting unit during the year ended December 31, 2022[303]. Currency and Hedging - The company held foreign currency derivative contracts with a total notional amount of $148.4 million as of December 31, 2024, to manage exchange fluctuations[326]. - The average exchange rate for the U.S. dollar strengthened against the Canadian dollar and the Euro by 9% and 6%, respectively, impacting Adjusted EBITDA by (1%)[324]. - The company has implemented a hedging program to manage potential changes in value associated with raw material purchases denominated in foreign currencies[327].

Financial Performance - Q4 2024 - Net Revenue decreased by 12% from $1021 million in Q4 2023 to $896 million in Q4 2024[15] - Adjusted EBITDA decreased by 54% from $87 million in Q4 2023 to $40 million in Q4 2024[17] - Adjusted EBITDA Margin decreased by 400 bps from 85% in Q4 2023 to 45% in Q4 2024[17] Financial Performance - Full Year 2024 - Net Revenue decreased by 12% from $4304 million in 2023 to $3776 million in 2024[30] - Adjusted EBITDA decreased by 28% from $380 million in 2023 to $275 million in 2024[32] - Adjusted EBITDA Margin decreased by 150 bps from 88% in 2023 to 73% in 2024[32] Segment Performance - Q4 2024 - North America Net Revenue decreased from $748 million to $640 million, and Adjusted EBITDA decreased from $94 million to $42 million[26] - Europe Net Revenue decreased from $273 million to $256 million, while Adjusted EBITDA increased from $16 million to $17 million[26] 2025 Guidance - Net Revenue is projected to be between $32 billion and $34 billion, with Core Revenue down 4% to 9%[42] - Adjusted EBITDA is projected to be between $215 million and $265 million[42] - Free Cash Flow is projected to be approximately negative $135 million[42]

Core Insights - JELD-WEN is expected to report a quarterly loss of $0.07 per share, reflecting a decline of 118.9% year-over-year [1] - Analysts forecast revenues of $843.77 million, indicating a decrease of 17.4% compared to the previous year [1] - The consensus EPS estimate has been revised 22.2% lower in the last 30 days, showing a reevaluation of initial estimates by analysts [1][2] Revenue Estimates - 'Revenues- Europe' are expected to be $229.20 million, representing a year-over-year decline of 16.2% [4] - 'Revenues- North America' are projected at $614.54 million, indicating a decrease of 17.8% from the same quarter last year [4] EBITDA Estimates - Estimated 'Adjusted EBITDA- North America' is $41.60 million, down from $94.20 million in the same quarter last year [5] - 'Adjusted EBITDA- Europe' is expected to reach $8.15 million, compared to $15.50 million in the previous year [5] Stock Performance - JELD-WEN shares have changed by +3.9% in the past month, compared to a +4.2% move of the Zacks S&P 500 composite [6] - The company holds a Zacks Rank 5 (Strong Sell), indicating expectations of underperformance relative to the overall market [6]

Core Points - JELD-WEN Holding, Inc. has completed the sale of its Towanda, Pennsylvania business to Woodgrain Inc. for a purchase price of $115 million, in compliance with a court-ordered divestiture [1] Company Overview - JELD-WEN Holding, Inc. is a global designer, manufacturer, and distributor of high-performance building products, including interior and exterior doors and windows, serving both new construction and repair and remodeling sectors [2] - The company is based in Charlotte, North Carolina, operates in 15 countries across North America and Europe, and employs approximately 18,000 associates [2] - JELD-WEN's brand portfolio includes JELD-WEN®, LaCantina®, VPI™, Swedoor®, and DANA® [2]

Core Viewpoint - JELD-WEN Holding, Inc. will release its fourth quarter 2024 results on February 17, 2025, followed by a conference call on February 18, 2025, at 8 a.m. EST to discuss the results [1] Company Overview - JELD-WEN Holding, Inc. is a leading global designer, manufacturer, and distributor of high-performance interior and exterior doors, windows, and related building products [3] - The company serves both the new construction and repair and remodeling sectors and is based in Charlotte, North Carolina [3] - JELD-WEN operates facilities in 15 countries across North America and Europe, employing approximately 18,000 associates [3] - The company's brand portfolio includes JELD-WEN®, LaCantina®, VPI™, Swedoor®, and DANA® [3]

JELD-WEN Holding, Inc. (JELD) , a leading global building products manufacturer, announced the sale of its Towanda facility, PA and related assets to Woodgrain Inc. for approximately $115 million.This transaction is part of a court-ordered divestiture process. The sale is expected to close by Dec. 31, 2024, subject to adjustments and closing conditions.JELD’s Transformation and Impact of Towanda Facility SaleJELD-WEN sees strong opportunities to improve its operations and drive long-term success through thi ...

JELD-WEN Proceeds to Close Divestiture Transaction CHARLOTTE, N.C., Dec. 16, 2024 /PRNewswire/ -- JELD-WEN Holding, Inc. (NYSE: JELD) ("JELD-WEN" or the "Company"), a leading global manufacturer of building products, today announced that, in compliance with the court-ordered divestiture of its Towanda, Pennsylvania business and related assets (collectively, "Towanda"), JELD-WEN has entered into an asset purchase agreement for the sale of Towanda to Woodgrain Inc. ("Woodgrain") for approximately $115 million ...

My previous investment thought for JELD-WEN Holding (NYSE: JELD ) (published in September) was a hold rating because I had a bearish outlook for the housing market in the US, and demand is unlikely to turn betterI focus on long-term investments while incorporating short-term shorts to uncover alpha opportunities. My investment approach revolves around bottom-up analysis, delving into the fundamental strengths and weaknesses of individual companies. My investment duration is the medium to long-term. Ultimate ...

Investors in JELD-WEN Holding, Inc. (JELD) need to pay close attention to the stock based on moves in the options market lately. That is because the Jan 17, 2025 $7.50 Put had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could ...