Jeld-Wen announced results for the first quarter of 2026.
First quarter highlights
- Net revenues of $722.1 million decreased (6.9%) in the first quarter driven by a decrease in Core Revenues of (10%) combined with a decrease in net revenues from the court-ordered divestiture of Towanda of (1%). These were partially offset by a favorable foreign exchange impact of 4%. The decline in Core Revenues was driven by a (10%) decrease in volume/mix.
- Net loss was ($76.8) million or ($0.90) per share, compared to net loss of ($190.1) million, or ($2.24) per share in the same quarter a year ago. Net loss in first quarter 2025 included $137.7 million in non-cash goodwill impairment charges. Operating loss margin was (7.6%) and (23.8%) for the quarters ended March 28, 2026 and March 29, 2025, respectively.
- Adjusted EBITDA was $6.1 million, a decrease of ($15.7) million compared to $21.9 million during the same quarter a year ago. Adjusted EBITDA Margin was 0.9%, a decrease of (190) basis points year-over-year due to unfavorable price/cost and volume/mix, partially offset by favorable productivity and lower SG&A expense.
What company leadership says
"First-quarter results were in line with our expectations as we continue to navigate the challenging demand environment and focus on service investments that improve how we support our customers," says Chief Executive Officer William J. Christensen. "We are seeing meaningful improvement in our delivery and consistency, and customers are beginning to recognize the difference. While there is more work to do, we believe these actions are positioning us for improved sales and earnings. At the same time, we remain focused on disciplined cost management, preserving cash, and strengthening liquidity."