Jeld-Wen Holding reported disappointing earnings for the third quarter of 2024, missing both revenue and earnings expectations compared to the previous year. The company has faced a significant decline in revenue and experienced a net loss, contrasting sharply with prior profitability.
Key points
- Revenue for Q3 2024 was $934.7 million, a decrease of 13% from Q3 2023. Revenue missed analyst estimates by 5.6%.
- Net loss for Q3 2024 was $73 million, a sharp decline from a profit of $16.9 million in Q3 2023.
- Earnings per share were -$0.86, a drop from a profit of $0.20 per share in Q3 2023.
- Revenue is projected to grow at an average of 3.1% per annum over the next three years, below the average expected growth of 4.6% for the building industry in the U.S.
- The company's shares have decreased by 30% over the past week.
- One warning sign regarding the company’s performance has been noted, suggesting caution for potential investors.
These points reflect a challenging financial landscape for Jeld-Wen Holding as of Q3 2024, with significant losses and lower-than-expected revenue and earnings compared to prior periods.
