JELD-WEN's 2024 Results: A Mixed Bag Amidst Market Challenges

As the market closed on February 17, 2025, JELD-WEN Holding, Inc. (NYSE: JELD) released its fourth quarter and full year 2024 results, providing investors with a glimpse into the company's performance amidst challenging market conditions. The report highlighted both progress in the company's transformation journey and the ongoing impact of weak macroeconomic conditions on its financial performance.



JELD-WEN's fourth quarter and full year 2024 results were marked by a decline in net revenues and earnings, reflecting the broader market challenges faced by the company. Net revenues from continuing operations for the quarter and year ended December 31, 2024, were $895.7 million and $3,775.6 million, respectively, representing a decrease of 12.3% and 12.3% compared to the same periods in 2023. The company's net loss from continuing operations for the quarter and year was ($68.4) million and ($187.6) million, respectively, compared to net income from continuing operations of $25.2 million and $25.2 million in the prior year.



Despite the challenging market conditions, JELD-WEN made progress in its transformation journey, focusing on streamlining operations, improving customer experience, and reducing operating costs. The company's adjusted EBITDA from continuing operations for the quarter and year was $40.1 million and $275.2 million, respectively, a decrease of 400 basis points and 150 basis points year-over-year. However, the company's adjusted EBITDA margin from continuing operations for the quarter and year was 4.5% and 7.3%, respectively, indicating that the company's transformation efforts are beginning to pay off.



Looking ahead, JELD-WEN faces an uncertain market environment, with potential weaker demand and ongoing challenges in the housing market. However, the company remains committed to mitigating the impact of these challenges through its ongoing transformation activities and disciplined approach to delivering improved financial results. In 2024, JELD-WEN anticipates uncertainty in the markets, but expects to capitalize on opportunities as the market improves.



In conclusion, JELD-WEN's 2024 results reflect a mixed bag of progress and challenges amidst a difficult market environment. While the company's financial performance has been impacted by weak macroeconomic conditions and a shift in demand towards entry-level products, JELD-WEN has made meaningful progress in its transformation journey. As the market improves, JELD-WEN is well-positioned to capitalize on opportunities and partner with its customers to drive mutual success.