JELD-WEN Holding Inc. has seen a significant decline in revenue, profits, and cash flows, leading to a drop in share price. Management recently made an interesting move regarding debt that helps to push it multiple years into the future, which is a net positive. Shares are very cheap right now and, despite the firm's weak performance, they likely deserve significant upside from here.
More infrastructure spending, focus on product innovation and efficient cost management are encouraging for the Zacks Building Products Wood industry players like UFPI, LPX and JELD despite a challenging macroeconomic backdrop.
JELD-WEN Holding, Inc. (NYSE:JELD ) Q2 2024 Earnings Conference Call August 6, 2024 8:00 AM ET Company Participants James Armstrong - Vice President-Investor Relations Bill Christensen - Chief Executive Officer Samantha Stoddard - Chief Financial Officer Conference Call Participants Steven Ramsey - Thompson Research Group Susan Maklari - Goldman Sachs John Lovallo - UBS Philip Ng - Jefferies Jeffrey Stevenson - Loop Capital Matthew Bouley - Barclays Mike Dahl - RBC Capital Markets Operator Good morning and welcome to the JELD-WEN Second Quarter 2024 Earnings Conference Call. Please note that this call is being recorded.
JELD-WEN (JELD) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to earnings of $0.44 per share a year ago.
Management lowered its end market expectations in North America and Europe. The company needs to improve its operational performance to better compete in its end markets.
JELD is a manufacturer and distributor of doors, windows, and other building items in the Construction and Repair & Remodel industry. The company has experienced lackluster revenue growth in the US and Europe due to slow housing markets and high interest rates. There is rising demand for single-housing units in the U.S., while the ECB has planned to ease monetary policy in June, bringing relief to the housing market in Europe.