JELD-WEN Reports First Quarter 2025 Results

Core Insights - JELD-WEN Holding, Inc. reported a net revenue of $776.0 million for Q1 2025, a decrease of 19.1$959.1 million in the same period last year, primarily due to the divestiture of the Towanda facility and a 15% decline in Core Revenue driven by weak macroeconomic conditions [4][9]. - The company experienced a net loss of $179.8 million in Q1 2025, significantly higher than the net loss of$27.7 million in Q1 2024, largely due to a $125 million non-cash goodwill impairment charge and lower volume/mix [5][9]. - Adjusted EBITDA for the quarter was$21.9 million, down 68.1% from $68.7 million in the same quarter last year, with an Adjusted EBITDA Margin of 2.8$2.12, compared to a loss of $0.32 per share in Q1 2024, reflecting the significant increase in net loss [6][9]. - Adjusted Net Loss for the first quarter was$14.2 million, a decrease of $32.6 million compared to Adjusted Net Income of$18.4 million in the same period last year [5][38]. - The company reported a cash flow from operating activities of $(83.5) million, an increase in cash used compared to$(11.0) million in the same period last year [11][45]. Segment Performance - In North America, net revenue was $530.6 million, a decline of 22.0$150.9 million, reflecting a significant year-over-year decrease [8][9]. - European operations reported net revenue of $245.4 million, down 12.1$3.5 million, primarily due to unfavorable volume/mix driven by market softness [10][9]. Cash Flow and Capital Expenditures - Capital expenditures in Q1 2025 increased to $42.0 million from$34.7 million in Q1 2024, while Free Cash Flow used was $(125.4) million, compared to$(45.7) million in the prior year [12][45]. - The company’s total debt stood at $1,182.2 million as of March 29, 2025, with a Net Debt of$1,049.7 million, resulting in a Net Debt Leverage of 4.6x [46].