JELD-WEN Holding, Inc. (JELD) Tops Q2 EPS by 27c, Revenues Beat

JELD-WEN Holding, Inc. (NYSE: JELD) reported Q2 EPS of $0.47, $0.27 better than the analyst estimate of $0.20. Revenue for the quarter came in at $992.3 million versus the consensus estimate of $968.49 million.

Second Quarter 2020 Highlights

• Adjusted EBITDA margin increased 130 basis points to 12.7%, despite impact from COVID-19 pandemic
• Price realization improved sequentially and year-over-year
• Structurally reduced costs through JEM deployment and ongoing footprint initiatives
• Free cash flow improved $12.4 million year-over-year
• Balance sheet strengthened, with record liquidity of $809 million, an increase of $254 million compared to December 31, 2019

"We delivered performance above expectations in an uncertain demand environment and in challenging operating conditions, demonstrating that underlying business fundamentals are strong and our strategy is delivering results," said Gary S. Michel, president and chief executive officer. "We remained disciplined and followed our playbook to profitably grow our market share in key products and channels, deliver improved price realization, and structurally reduce costs through the rigorous deployment of the JELD-WEN Excellence Model (JEM) and our footprint rationalization and modernization initiatives."

"I am proud of how our associates have risen to the unprecedented challenges brought on by COVID-19, maintaining safe working environments for each other and our channel partners, and continuing to deliver world-class products to our customers. While the persistence of the virus in many countries globally contributes to near-term demand uncertainty, we believe that the pandemic will result in long-term trends that will drive improved demand for our products in both new construction and repair and remodel activity."

For earnings history and earnings-related data on JELD-WEN Holding, Inc. (JELD) click here.

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