Q4 CY2024 Earnings Report: JELD-WEN Beats on Revenue, Misses on Guidance

Q4 CY2024 Highlights:

* Revenue: $895.7 million (5.8% beat vs. $846.3 million estimate)
* Adjusted EPS: -$0.10 (65.1% miss vs. -$0.06 estimate)
* Adjusted EBITDA: $40.1 million (1.5% beat vs. $39.49 million estimate)
* Revenue guidance for FY2025: $3.3 billion at midpoint (3.8% below estimates)
* EBITDA guidance for FY2025: $240 million at midpoint (below estimates of $267.2 million)
* Organic revenue decline of 12% year over over year
* Operating margin: -5.7% (down from 0.7% in Q4 CY2023)
* Free cash flow: -$23.9 million (down from $41.7 million in Q4 CY2023)

Company Overview

JELD-WEN (NYSE:JELD) manufactures doors, windows, and other building products. The company faces cyclical demand driven by economic factors and raw material costs.

Sales Growth

JELD-WEN's revenue has declined at a 2.5% annual rate over the past five years and 10.1% over the past two years. The company reports organic revenue declines of 9.2% year over year on average over the past two years.

Operating Margin

JELD-WEN has a weak operating margin of 2.5% and has seen a 7.8 percentage point decline over the past five years. In Q4 CY2024, the operating margin was -5.7%.

Earnings Per Share

EPS has declined by 7.8% annually over the past five years. In Q4 CY2024, EPS was -$0.10, missing estimates. Analysts expect EPS to decline by 3.1% in FY2025.

Key Takeaways

JELD-WEN beat expectations on organic revenue and EBITDA in Q4 CY2024. However, full-year guidance missed estimates. The stock's outlook is mixed, with positive revenue trends but concerns about margins and guidance.