News

JELD-WEN Holding Reports Increased Quarterly Profit Despite Weaker Demand

1 Mins read

JELD-WEN Holding, a window-and-door maker based in Charlotte, N.C., recorded a strong profit in the third quarter despite facing weakened demand. The company reported a profit of $43.8 million, or 51 cents per share, compared with a loss of $33.2 million, or 39 cents per share, in the same period last year. Analysts polled by FactSet had anticipated earnings of 30 cents per share.

Improved Profitability Through Cost Reductions

By implementing effective cost reduction measures, JELD-WEN Holding was able to achieve improved profitability. Adjusted per-share earnings reached 53 cents, surpassing analysts’ forecast of 34 cents. The profit of 20 cents per share, excluding discontinued operations, further demonstrated the company’s strong performance.

Revenue Decline Offset by Beating Analysts’ Expectations

Despite a 5.5% decrease in revenue to $1.08 billion, JELD-WEN Holding surpassed the $1.014 billion revenue expectation set by analysts. This achievement underscores the company’s ability to navigate challenging macroeconomic conditions and uncertain demand.

Outlook and Future Prospects

CEO William Christensen acknowledged the persisting difficult market environment but emphasized that the company is well-equipped to maintain profitability through ongoing cost-reduction initiatives. These programs are expected to positively impact the fourth quarter’s performance.

Continued Growth Strategy

JELD-WEN Holding completed the sale of its Australasia segment on July 2 as part of its growth strategy. This strategic move contributes to the company’s commitment to focusing on core operations and maximizing overall profitability.

Related posts
News

EFCC Takes Sensitization Campaign On Virtual Assets, Money Laundering To CBN - InfoStride News

2 Mins read
Operatives of the Benin Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Thursday, July 24, sensitized officers of Central…
News

Binance's Top Trending Cryptocurrency Picks for Today, July 23, 2025

10 Mins read
Looking for what’s hot in crypto today, July 23, 2025? We’ve got the rundown on the top trending cryptocurrency picks you’ll find…
News

Why betting on Bitcoin as the dollar collapses could wreck small investors

5 Mins read
Scams, hacks, and no safety nets make BTC especially risky for people with limited savings.Trending NowBest Forex Trading Robots To Invest In…

Leave a Reply

Your email address will not be published. Required fields are marked *

61 − 53 =