JELD-WEN Reports Second Quarter 2025 Results and Reinstates Full Year Guidance

Core Insights - JELD-WEN reported a net revenue of $823.7 million for Q2 2025, a decrease of 16.5% compared to $986.0 million in Q2 2024, primarily due to a 13% decline in Core Revenues and a 5% decrease from the divestiture of Towanda [4][11] - The company experienced a net loss from continuing operations of $22.3 million, or $0.26 per share, compared to a net loss of $18.5 million, or $0.22 per share, in the same quarter last year [5][6][11] - Adjusted EBITDA from continuing operations was $39.0 million, down 54.0% from $84.8 million in Q2 2024, with an Adjusted EBITDA Margin of 4.7%, a decrease of 390 basis points [7][11] Financial Performance - For the six months ended June 28, 2025, net revenues totaled $1.6 billion, a decline of 17.8% from $1.9 billion in the same period last year [35] - The company reported a net loss of $211.7 million for the six months ended June 28, 2025, compared to a net loss of $46.2 million in the same period last year [38] - Free Cash Flow used in the six months ended June 28, 2025, was ($125.1) million, compared to ($33.8) million in the same period last year [9] Segment Performance - In North America, net revenue was $555.7 million, a decline of 21.8%, driven by a 15% decrease in Core Revenues and a 7% decrease from the divestiture of Towanda [12] - In Europe, net revenue was $268.1 million, a decline of 2.7%, with Core Revenues decreasing by 8% but partially offset by a 5% favorable foreign exchange impact [12] Guidance and Outlook - The company reinstated its full-year 2025 revenue guidance of $3.2 to $3.4 billion, reflecting a year-over-year decline in Core Revenues of approximately 4% to 9% compared to 2024 [14][15] - Adjusted EBITDA is expected to be in the range of $170 to $200 million, indicating continued pressure from competitive pricing and volume environment [14][15]