JELD · JELD-WEN Holding, Inc.

JELD-WEN's Q1 2026 results showed net revenues declining 6.9% to $722.1 million, primarily from a 10% drop in core revenues due to 10% lower volume/mix, partially offset by 4% favorable FX. North America faced steeper 14.7% revenue decline to $452.7 million from 14% core drop and 1% Towanda divestiture impact, while Europe grew 9.8% to $269.4 million on 12% FX tailwind despite 2% core softness. GAAP net loss narrowed to $76.8 million from $190.1 million a year ago, which included $137.7 million non-cash goodwill impairment; adjusted metrics weakened with EBITDA at $6.1 million (0.9% margin) versus $21.9 million (2.8%), hit by unfavorable price/cost and volume, though mitigated by productivity and lower SG&A. CEO William J. Christensen noted results aligned with expectations amid demand challenges, emphasizing service improvements, delivery consistency, cost discipline, cash preservation, and liquidity. Cash from operations used $91.2 million, up from $83.5 million prior year due to working capital outflow from higher receivables and inventories despite better earnings. Capex fell to $26.1 million. Updated FY2026 guidance raised revenue range to $3.05-$3.2 billion (from $2.95-$3.1 billion), implying 3-6% core decline plus $50 million FX benefit, with Adjusted EBITDA steady at $100-$150 million on cost cuts offsetting volume pressure, and $40 million operating cash flow expected. Management will discuss on May 5 call with slides at investors.jeld-wen.com.