CHARLOTTE, N.C., Aug. 22, 2024 /PRNewswire/ -- JELD-WEN Holding, Inc. ("JELD-WEN") (NYSE: JELD) today announced the completion of its offering of $350 million of 7.000% senior unsecured notes due 2032 (the "Notes") in a private placement exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). The Notes are guaranteed by JELD-WEN, Inc., the main operating subsidiary of JELD-WEN ("JWI"), and by each of JWI's domestic subsidiaries that guarantee indebtedness under JWI's te ...

CHARLOTTE, N.C., Aug. 19, 2024 /PRNewswire/ -- JELD-WEN Holding, Inc. (NYSE: JELD), a leading global manufacturer of building products, today announced that Chief Executive Officer William J. Christensen and Chief Financial Officer Samantha Stoddard will participate in the upcoming Jefferies Industrials Conference fireside chat at 11:00 am ET on Thursday, September 5, 2024. The live webcast will be available on JELD-WEN's website at investors.jeld-wen.com. The replay of the webcast will be available at inve ...

CHARLOTTE, N.C. , Aug. 14, 2024 /PRNewswire/ -- JELD-WEN Holding, Inc. ("JELD-WEN") (NYSE: JELD) announced today that its subsidiary, JELD-WEN, Inc. ("JWI"), elected to redeem, subject to completion of the notes offering announced by JELD-WEN on August 8, 2024, all of its outstanding 4.625% Senior Notes due 2025 (the "Notes"), in accordance with the terms of the Notes and the related indenture. Wilmington Trust, National Association, as trustee under the indenture, mailed a conditional notice of redemption ...

Spending on home repair and remodel (R&R) activities has decreased from the peaks seen during the pandemic, given high rates. The surge in interest rates has resulted in a substantial number of potential homebuyers being unable to afford properties in the U.S. housing market. This, in turn, has created challenging demand conditions for companies within the Zacks Building Products – Wood industry. Nonetheless, there remains a persistent need for investment in critical replacements, addressing home performanc ...

CHARLOTTE, N.C., Aug. 8, 2024 /PRNewswire/ -- JELD-WEN Holding, Inc. ("JELD-WEN") (NYSE: JELD) today announced that it has priced its previously announced offering of $350 million of 7.00% senior unsecured notes due 2032 (the "Notes") in a private placement exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). Net proceeds from the offering will be used to fund the (i) redemption of all of the outstanding 4.625% Senior Notes due 2025 previously issued by JELD-WEN, Inc ...

CHARLOTTE, N.C., Aug. 8, 2024 /PRNewswire/ -- JELD-WEN Holding, Inc. ("JELD-WEN") (NYSE: JELD) today announced that it plans to conduct an offering of $350 million in aggregate principal amount of senior unsecured notes due 2032 (the "Notes") in a private placement exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"), subject to market conditions. JELD-WEN intends to use the net proceeds from the offering to fund the (i) redemption of all of the outstanding 4.625% Sen ...

Financial Data and Key Metrics - Q2 2024 revenue was $986 million, down 12% YoY, driven by lower core revenues due to market-driven volume declines in North America and Europe, and a mix shift to lower-priced products [10] - Adjusted EBITDA was $85 million, down $24 million YoY, with an adjusted EBITDA margin of 8.6% [10] - North America segment revenue declined 13% YoY to $711 million, with adjusted EBITDA down to $76 million from $109 million YoY [12] - Europe segment revenue was $275 million, down 10% YoY, with adjusted EBITDA at $20 million, a $4 million decline YoY [12] - The company repurchased 1.6 million shares at an average price of $15.18 per share, offsetting dilution from the past 18 months [6] Business Line Performance - North America core revenue declined 13% YoY due to lower volume/mix, with slightly negative price/cost impact [12] - Europe core revenue decreased 10% YoY, driven by a 12% decline in volume/mix, partially offset by productivity improvements and better price/cost dynamics [12] - The company closed two facilities (Vista California Composite Windows and Hawkins Wisconsin Wood Windows), expected to generate $11 million in annual EBITDA savings [7] Market Trends and Outlook - North America volumes are expected to decline by low double-digits in 2024, with new single-family home construction up by low single-digits, while repair and remodel activity is expected to decline by mid-to-high single digits [13] - The European market is trending towards the weaker end of previous guidance, with volumes expected to decline by low double-digits due to macroeconomic and geopolitical challenges [14] - Multifamily and Canadian markets are expected to decline by more than 25% YoY, contributing significantly to the overall North America volume decline [13][35] Strategic Initiatives and Transformation - The company is focused on its transformational journey, emphasizing people, performance, and strategy, with 500 active projects aimed at cost savings and operational improvements [15][16] - Key projects include standardizing door specifications across the North American network, expected to generate $4 million in benefits over five years, and automating bifold door assembly operations, expected to save $2 million over five years [16][17] - The company is increasing CapEx spending by $16 million YoY to support operational improvements, including material efficiency and automation [8] Management Commentary on Market Conditions - Management noted that consumer confidence remains weak, with no significant seasonal reload in inventory, indicating cautious spending on big-ticket items [31][45] - The company expects a lag of 1-2 months for resale homes to pick up after potential rate cuts, with a further 3-6 months lag for new construction and multifamily projects to rebound [40][41] Other Key Information - The company expects to deliver $100 million in cost savings in 2024, with $50 million from carryover benefits from 2023 and $50 million from new initiatives [19] - Free cash flow for 2024 is expected to be $25 million to $50 million, with operating cash flow of approximately $200 million after $100 million in non-operating cash expenses for the transformation journey [20] Q&A Session Summary Question: Growth initiatives and sales efficiency - The company is focusing on pricing stability, sales efficiency, and cost management, with growth initiatives expected to materialize later in 2024 or early 2025 [23][24] - The company has identified $10 million to $15 million in additional cost savings, expected to impact Q4 2024 [25][26] Question: Margin outlook and cost savings - Management expects sequential margin expansion in H2 2024, driven by $10 million to $15 million in additional cost savings and productivity improvements [28][29] - The $100 million cost savings target includes both COGS productivity and SG&A reductions [50] Question: Demand and pricing dynamics - The company is balancing volume growth with price stability, focusing on cost management to offset inflation, particularly in labor and benefits [30][32] - In Europe, the company has been able to hold pricing better due to its spec-driven portfolio, with some competitors struggling in the current market environment [33] Question: North America volume expectations - The low double-digit decline in North America volumes is driven by significant declines in multifamily and Canadian markets, which account for about 10% of North American business [35][36] Question: Price/cost dynamics - Price/cost is expected to be a 1% headwind in 2024, with pricing stable but cost inflation in labor and benefits impacting margins [37] Question: Seasonal trends and inventory levels - No significant seasonal inventory reload was observed in Q2, with inventories remaining thin and demand for big-ticket items delayed [45] Question: SG&A and productivity initiatives - SG&A reductions are part of the $100 million cost savings target, with significant productivity improvements expected from CapEx investments in automation and operational efficiency [48][49] Question: Cash flow and inventory management - The company is intentionally increasing inventory to improve service levels, with free cash flow expected to be $25 million to $50 million for 2024 [52] Question: Progress on new construction market share - The company is in the early stages of building relationships and winning orders in the new construction market, with results expected to materialize in 2025 [54] Question: Legal costs and cash flow - Legal costs related to the Towanda divestiture are not a major driver of cash flow, with the majority of cash costs tied to the transformation journey [56]

Second Quarter 2024 Results August 6, 2024 Speakers Bill Christensen CEO Samantha Stoddard CFO Disclosures Certain statements in this presentation, including our guidance and business strategies, are forwardlooking statements that involve risk, uncertainty and assumptions, and are based on information as of August 6, 2024. Actual results may differ materially from those set forth in such statements. For a discussion of these risks and uncertainties, you should review our Annual Report on Form 10-K, Form 10- ...

Exhibit 99.1 JELD-WEN Reports Second Quarter 2024 Results August 5, 2024 Charlotte, N.C. - JELD-WEN Holding, Inc. (NYSE: JELD) ("JELD-WEN" or the "Company") today announced results for the three and six months ended June 29, 2024. Comparability is to the same period in the prior year and all periods presented reflect the Company's Australasia segment as a discontinued operation, as appropriate and unless otherwise noted. Second Quarter Highlights • Net revenues from continuing operations of $986.0 million d ...

Key initiatives drive progress toward long-term ESG goals CHARLOTTE, N.C., Aug. 1, 2024 /PRNewswire/ -- JELD-WEN Holding, Inc. (NYSE: JELD) today released its 2023 Environmental, Social and Governance (ESG) report. The report highlights the company's ESG initiatives and progress toward its 2050 sustainability goals during the 2023 reporting year. "Our sustainability work touches all areas of our transformation efforts," said JELD-WEN CEO William J. Christensen. "We are working hard to improve our culture, d ...