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JELD NYSE· JELD-WEN Holding Inc.
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JELD NYSE· JELD-WEN Holding Inc.
Earnings report Q4 2023

JELD-WEN Holding, Inc. Reports Decrease in Revenue for Latest Quarter

Segments of Revenue

JELD-WEN Holding, Inc. reported net revenues of $4.30 billion for the latest quarter, representing a decrease from the previous year's quarter revenue of $4.54 billion. The company's revenue has been on a declining trend, with revenues of $4.18 billion in the year before.

Strengths

Despite the decrease in revenue, JELD-WEN Holding, Inc. has maintained a gross margin of $832.6 million, which is higher than the previous year's gross margin of $785.9 million. This indicates that the company has been able to effectively manage its cost of sales and maintain profitability. Management comments suggest that the increase in gross margin can be attributed to cost-saving initiatives and operational efficiencies implemented by the company.

Challenges

One of the challenges faced by JELD-WEN Holding, Inc. is the increase in selling, general, and administrative expenses. These expenses amounted to $655.3 million in the latest quarter, slightly higher than the previous year's expenses of $654.1 million. This increase in expenses could potentially impact the company's profitability and overall financial performance.

Noteworthy

It is worth mentioning that JELD-WEN Holding, Inc. recorded a goodwill impairment charge of $54.9 million in the previous year, which had a significant impact on its operating income. However, no such impairment charge was recorded in the latest quarter, indicating a more stable financial position for the company.

Summary

JELD-WEN Holding, Inc. experienced a decrease in revenue for the latest quarter, but managed to maintain a healthy gross margin. The increase in selling, general, and administrative expenses poses a challenge for the company, but it has successfully avoided any goodwill impairment charges. Overall, JELD-WEN Holding, Inc. needs to focus on strategies to boost its revenue and effectively manage its expenses to improve its financial performance in the future.

Source documents

Form 10-K  filed on Feb 20, 2024
29 pages scanned

Reference data

Company financials Q4 revenue 1.02B
Analyst estimates Q4 EPS beat by 8.25%
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