JELD-WEN Holding Expects Net Revenues Of $4B-$4.3B VS. $4.27B Consensus; Sees Adjusted EBITDA Of $370M-$420M

Benzinga02-20

Full Year 2024 Guidance

JELD-WEN is initiating its 2024 revenue guidance of $4.0 to $4.3 billion which reflects Core Revenues that are flat to down 7% compared to 2023. This outlook reflects the continuing uncertain macro environment across the company's portfolio of products and geographies in North America and Europe.

Further, the Company expects that 2024 Adjusted EBITDA will be within the range of $370 to $420 million as ongoing productivity improvements mitigate the impact of potential volume declines.

As part of the Company's plan to improve its financial results in 2024 and future years, JELD-WEN expects to use a portion of 2024 operating cash flows to invest in itself with capital expenditures increasing to approximately 4% of sales as well as non-recurring cash expenses of approximately $100 million.

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