CHARLOTTE, N.C., Nov. 3, 2026 /PRNewswire/ -- JELD-WEN Holding, Inc. (NYSE: JELD) ("JELD-WEN" or the "Company") today announced results for the three and nine months ended September 26, 2026. Comparability is to the same period in the prior year.
Third Quarter 2026 Highlights
- Net revenues of $798.5 million decreased (1.4%) in the third quarter driven by a decrease in Core Revenues of (1%). The decline in Core Revenues was driven by a (2%) decrease in volume/mix, partially offset by a 1% benefit from price realization.
- Net loss was ($17.2) million or ($0.20) per share, compared to net loss of ($367.6) million, or ($4.30) per share, during the same quarter a year ago. Operating income (loss) margin was 1.1% and (25.0%) for the quarters ended September 26, 2026 and September 27, 2025, respectively.
- Adjusted EBITDA was $54.4 million, an increase of $10.0 million compared to $44.4 million during the same quarter a year ago. Adjusted EBITDA Margin was 6.8%, an increase of 130 basis points in the third quarter primarily due to tariff refunds recognized as a reduction in cost of sales, favorable productivity, and lower SG&A expense, partially offset by negative price/cost and volume/mix.
- Commenced transactions to extend debt maturities and raise $135.0 million of incremental liquidity.
- Concluded the strategic review of the European business; retaining the business, with a focus on operational improvements and cost reductions, provides the best opportunity to create long-term value.
"Our third-quarter results reflect the continued progress we are making to strengthen our business, even as market conditions remain challenging," said Chief Executive Officer William J. Christensen. "We remain focused on improving service, managing costs, and driving productivity, which are helping us improve our competitive position. Despite a softer market outlook, we are maintaining our full-year revenue and Adjusted EBITDA guidance while making important progress on our strategic priorities, including our debt refinancing and the future of our European business."
Third Quarter 2026 Results
Net revenues decreased ($11.0) million, or (1.4%), to $798.5 million in the three months ended September 26, 2026, from $809.5 million in the three months ended September 27, 2025. The decrease in net revenues was primarily driven by a decrease in Core Revenues of (1%). The decline in Core Revenues was driven by a (2%) decrease in volume/mix, partially offset by a 1% benefit from price realization.
Net loss was ($17.2) million in the third quarter, compared to a net loss of ($367.6) million in the same period last year. Adjusted Net Income for the third quarter was $4.4 million, an increase of $21.6 million compared to Adjusted Net Loss of ($17.3) million in the same period last year.
Net loss per share for the third quarter was ($0.20), compared to a net loss per share of ($4.30) in the same quarter last year. Adjusted EPS for the third quarter was $0.05, compared to ($0.20) in the same quarter last year. Adjusted EPS for the quarter ended September 26, 2026, excludes net after-tax charges of $21.6 million, or $0.25 per diluted share. Adjusted EPS for the quarter ended September 27, 2025, excludes net after-tax charges of $350.3 million or $4.10 per diluted share. Third quarter 2025 net loss from continuing ops includes $196.9 million non-cash goodwill impairment and $122.3 million tax special items.
Adjusted EBITDA was $54.4 million, an increase of $10.0 million compared to $44.4 million during the same quarter last year. Adjusted EBITDA Margin was 6.8%, an increase of 130 basis points in the third quarter primarily due to tariff refunds recognized as a reduction in cost of sales, favorable productivity, and lower SG&A expense, partially offset by negative price/cost and volume/mix.
On a segment basis for the third quarter of 2026, compared to the same period last year:
- North America - Net revenues decreased ($16.5) million, or (3.0%), to $529.7 million in the three months ended September 26, 2026, from $546.1 million in the three months ended September 27, 2025. The decrease was primarily due to a decrease in Core Revenues of (3%). The decrease in Core Revenues was driven by a (3%) decline in volume/mix due to weakened market demand. Net income was $21.2 million, an increase of $202.4 million year-over-year. Adjusted EBITDA in North America increased $10.7 million, or 28.3%, to $48.3 million in the three months ended September 26, 2026, from $37.7 million in the three months ended September 27, 2025. The increase was primarily due to tariff refunds recognized as a reduction in cost of sales, improved productivity, and lower SG&A, partially offset by unfavorable price/cost and volume/mix.
- Europe - Net revenues increased $5.5 million, or 2.1%, to $268.9 million in the three months ended September 26, 2026, from $263.3 million in the three months ended September 27, 2025. The increase was primarily due to an increase in Core Revenues of 3%, partially offset by an unfavorable foreign exchange impact of (1%). The increase in Core Revenues was primarily driven by a 4% benefit from price realization, partially offset by unfavorable volume/mix of (1%). Net loss was ($6.9) million, an increase of $146.5 million year-over-year. Adjusted EBITDA in Europe decreased ($1.0) million, or (6.5%), to $15.0 million in the three months ended September 26, 2026, from $16.0 million in the three months ended September 27, 2025. The decrease was primarily due to unfavorable price/cost and higher bad debt expense, partially offset by lower salaries and benefits and improved productivity.
Cash Flows
Net cash used in operating activities was ($72.8) million in the nine months ended September 26, 2026, compared to ($37.7) million in the nine months ended September 27, 2025, an increase in cash used of $35.1 million. The change in cash flows from operating activities was primarily attributable to lower earnings, excluding the prior year impact of the $334.6 million non-cash goodwill impairment charge related to our North America and Europe reporting units and the $129.2 million income tax expense due to an increase to valuation allowances on U.S. tax attributes. Changes in our working capital accounts resulted in a $59.6 million unfavorable year-over-year impact. Accounts receivable, net resulted in a ($36.9) million unfavorable impact, primarily due to the timing of revenue recognition and customer collections. Accounts payable resulted in a ($15.1) million unfavorable impact, primarily due to lower inventory purchases and timing of vendor payments. Inventory resulted in a ($7.6) million unfavorable impact, primarily reflecting a decrease in inventory reserves.
Capital expenditures in the nine months ended September 26, 2026, decreased by $46.7 million to $57.2 million, down from $103.9 million in the nine months ended September 27, 2025. Free Cash Flow used in the nine months ended September 26, 2026, was ($129.9) million, compared to Free Cash Flow used in the nine months ended September 27, 2025, of ($141.6) million. This does not include the impact of proceeds of $110.7 million from the court-ordered divestiture of our Towanda facility, which was completed in the first quarter of 2025.
Full Year 2026 Guidance
JELD-WEN is maintaining its 2026 revenue guidance of $3.1 to $3.2 billion. This range reflects a year-over-year decline in Core Revenues of approximately (2%) to (5%), compared to 2025, and a foreign exchange benefit of approximately $50 million. Additionally, the Company continues to expect Adjusted EBITDA to be in the range of $120 to $150 million, reflecting significant cost reductions, partially offset by continued price/cost and volume pressure.
The Company expects 2026 operating cash flow to generate approximately $10 million.
Conference Call Information
JELD-WEN management will host a conference call on November 4, 2026, at 8 a.m. ET, to discuss the Company's financial results. Interested investors and other parties can access the call either via webcast by visiting the Investor Relations section of the Company's website at https://investors.jeld-wen.com, or by dialing 833-461-5787 from the United States or +1-585-542-9983 internationally and using ID 369649160. A slide presentation highlighting the Company's results is available on the Investor Relations section of the Company's website.
For those unable to listen to the live event, a webcast replay will be available approximately two hours following completion of the call. To learn more about JELD-WEN, please visit the Company's website at https://investors.jeld-wen.com.
About JELD-WEN Holding, Inc.
JELD-WEN Holding, Inc. (NYSE: JELD) is a leading global designer, manufacturer and distributor of high-performance interior and exterior doors, windows, and related building products serving the new construction and repair and remodeling sectors. Based in Charlotte, North Carolina, JELD-WEN operates facilities in 14 countries in North America and Europe and employs approximately 13,900 associates dedicated to bringing beauty and security to the spaces that touch our lives. The JELD-WEN family of brands includes JELD-WEN® worldwide, LaCantina® and VPI⢠in North America, and Swedoor® and DANA® in Europe. For more information, visit corporate.JELD-WEN.com or follow us on LinkedIn.
Investor Relations Contact:
James Armstrong
Vice President, Investor Relations
704-378-5731
jarmstrong@jeldwen.com
Media Contact:
JELD-WEN Holding, Inc.
Sarah Bruner
Senior Director, Enterprise Communications
980-403-4459
SBruner@jeldwen.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.