JELD-WEN Holding, Inc. (JELD) Tops Q1 EPS by 7c, Revenues Beat

JELD-WEN Holding, Inc. (NYSE: JELD) reported Q1 EPS of $0.27, $0.07 better than the analyst estimate of $0.20. Revenue for the quarter came in at $1.09 billion versus the consensus estimate of $1.04 billion.

"JELD-WEN delivered a strong start to 2021, building on continued operating momentum and disciplined execution, generating significant improvement in revenue, margin, and cash flow," said Gary S. Michel, president and chief executive officer. "The rigorous deployment of our business operating system, the JELD-WEN Excellence Model ("JEM"), throughout the organization is producing consistent growth and margin expansion, which in the first quarter included favorable price, volume/mix, and productivity in each of our geographic segments. Our multi-faceted growth platform is delivering revenue growth, improved earnings, and compounding cash flow. We remain optimistic on performance for the remainder of the year driven by the cadence and quality of operational initiatives currently underway and supportive market fundamentals for both residential new construction and repair and remodel activity."

Updated 2021 Outlook

• Net revenue growth expected to be within a range of 8.0% to 11.0%, compared to 4.0% to 7.0% previously
• Adjusted EBITDA anticipated to be within a range of $505 million to $535 million, up from $480 million to $520 million previously
• Projected capital expenditures are expected to be within a range of $130 million to $140 million, down from $135 million to $145 million previously

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

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