Impact of Sluggish Housing Market on Jeld-Wen Stock Performance
Tuesday, 7 May 2024, 14:53
Sluggish Housing Market Impact
A sluggish housing market is taking a toll on Jeld-Wen Holdings (NYSE: JELD), with declining revenues affecting its stock value.
Earnings Beat but Revenue Miss
- Jeld-Wen earned $0.21 per share in the quarter, beating estimates, but revenue fell short by $5 million due to lower volumes and pricing.
Challenges in North America and Europe
- Revenue decline of 11% year over year due to lower volumes and pricing in both North America and Europe.
- Operating margins in North America fared slightly better compared to Europe.
Despite executing transformation efforts, challenges persist due to demand uncertainties and lower-than-expected financial guidance.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.