JELD-WEN Holding Earnings Call Transcripts
Fiscal Year 2026
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Revenue and EBITDA declined sharply year-over-year due to lower volumes and cost inflation, but service levels and productivity improved. Guidance for 2026 was raised on revenue, with EBITDA range unchanged, as strategic reviews and cost actions continue to support liquidity and operational execution.
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The meeting approved all board proposals, including director elections and the 2026 Omnibus Equity Plan. Leadership highlighted ongoing operational improvements, a strategic review of the Europe business, and actions to address market headwinds and cost pressures.
Fiscal Year 2025
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Fourth quarter and full year results met the high end of expectations despite ongoing volume and margin pressures. 2026 guidance is cautious, with revenue and EBITDA expected to decline amid soft demand, but operational improvements and cost actions are supporting stability.
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Third quarter results missed expectations due to weaker demand, inflation, and operational challenges, prompting cost reductions and a strategic review of the European business. Guidance for 2025 was lowered, with EBITDA and revenue expected to decline year-over-year.
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Q2 2025 saw revenue and EBITDA declines due to lower volumes and the Towanda divestiture, but results met the high end of expectations. Full-year guidance was reinstated, with ongoing transformation and cost actions aimed at offsetting market softness and high leverage.
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Q1 2025 saw a 19% revenue decline and a $47M drop in adjusted EBITDA, driven by double-digit volume decreases and the Towanda divestiture. Full-year guidance was withdrawn amid tariff and macroeconomic uncertainty, with transformation initiatives and cost actions ongoing.
Fiscal Year 2024
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Q4 revenue fell 12% year-over-year, with Adjusted EBITDA down sharply due to lower volumes and mix. 2025 guidance anticipates further revenue and EBITDA declines amid ongoing market headwinds, but transformation and cost actions are expected to partially offset pressures.
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Q3 revenue and EBITDA declined due to weak demand, adverse mix, and operational challenges, prompting a downward revision of 2024 guidance. Transformation initiatives and cost savings are mitigating some headwinds, with $100 million in additional EBITDA targeted for 2025.
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Q2 revenue and EBITDA declined year-over-year due to lower volumes and a shift to lower-priced products, but productivity gains and cost savings initiatives helped offset market headwinds. 2024 guidance is maintained, with results expected at the lower end of the range amid continued softness in key markets.