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Investing.com -- Shares of JELD-WEN (NYSE:JELD) Holding, Inc. (NYSE: JELD) slid 16% following the company’s report of disappointing fourth-quarter earnings and a subdued outlook for the future.
The Charlotte-based global manufacturer of building products reported a fourth-quarter net loss of $68.4 million, or ($0.81) per share, a significant decline from the net loss of $22.6 million, or ($0.27) per share, in the same quarter last year. The loss included a non-cash goodwill impairment charge related to the court-ordered divestiture of their Towanda facility. Adjusted earnings per share (EPS) came in at ($0.10), below the analyst estimate of ($0.06). Revenue for the quarter was $895.7 million, a 12.3% decrease from the previous year, although it surpassed the consensus estimate of $859.65 million.
For the full year, JELD-WEN’s net revenues from continuing operations dropped by 12.3% to $3.775.6 million, with a net loss of ($187.6) million, or ($2.21) per share, compared to a net income of $25.2 million, or $0.29 per share, in the prior year. Adjusted EBITDA also fell to $275.2 million, down from $380.4 million the year before, with the adjusted EBITDA margin shrinking by 150 basis points to 7.3%.
Looking ahead, JELD-WEN introduced guidance for the full year 2025, projecting revenues between $3.2 billion and $3.4 billion, which is below the consensus of $3.431 billion. The company anticipates a core revenue decline of 4% to 9% compared to 2024 and expects adjusted EBITDA to range from $215 to $265 million.
In their press release, CEO William J. Christensen highlighted the company’s progress in its transformation efforts amid challenging market conditions. He remains confident in the company’s strength and its positioning for future opportunities.
Despite the reported earnings being roughly in line with Wall Street expectations and the guidance aligning with expectations after accounting for the Towanda divestiture, analysts note a deterioration from the third-quarter commentary. "While slightly worse than commentary on the 3Q24 call, this reflects recent challenges for the new single-family construction backdrop," an analyst commented, pointing to the broader industry’s difficulties.
Investors reacted to the news by selling off JELD-WEN stock, reflecting concerns over the company’s performance and the challenging economic environment impacting the building products sector.
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