JELD-WEN Reports Third Quarter 2026 Results
JELD-WEN Holding, Inc. (JELD) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 JELD-WEN Reports Third Quarter 2026 Results November 3, 2026 Charlotte, N.C. - 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
How this was made
The 30-second read
Why it matters
The reaffirmed full‑year guidance signals management confidence despite a softer market, but the loss may keep the stock under pressure.
Market read
Company‑specific earnings release with reaffirmed guidance; limited broader market effect.
What to watch
Tariff refunds and productivity gains partially offset cost pressures, suggesting operational resilience.
JELD-WEN reported third-quarter net revenues of $798.5 million, down (1.4%), while Adjusted EBITDA increased to $54.4 million and the Company maintained full-year 2026 revenue and Adjusted EBITDA guidance.
Third-quarter revenue and core volume/mix declined amid weakened market demand, but Adjusted EBITDA, adjusted EPS, and Adjusted EBITDA Margin improved. The Company maintained its full-year outlook while operating cash flow and Free Cash Flow remained negative for the nine-month period and Net Debt Leverage increased to 10.3x.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net revenues, three months ended September 26, 2026GAAP | $798.5M | – | (1.4%) |
| Cost of sales, three months ended September 26, 2026GAAP | $660.9M | – | (1.1%) |
| Gross margin, three months ended September 26, 2026GAAP | $137.6M | – | (2.3%) |
| Selling, general and administrative, three months ended September 26, 2026GAAP | $116.2M | – | (15.6%) |
| Goodwill impairment, three months ended September 26, 2026GAAP | — | – | (100.0%) |
| Restructuring and asset-related charges, net, three months ended September 26, 2026GAAP | $12.7M | – | 43.2% |
| Operating income, three months ended September 26, 2026GAAP | $8.8M | – | (104.3%) |
| Operating income (loss) margin, three months ended September 26, 2026GAAP | 1.1% | – | – |
| Interest expense, net, three months ended September 26, 2026GAAP | $19.5M | – | 11.7% |
| Other expense (income), net, three months ended September 26, 2026GAAP | $3.7M | – | (431.9%) |
| Loss before taxes, three months ended September 26, 2026GAAP | −$14.4M | – | (93.4%) |
| Income tax expense, three months ended September 26, 2026GAAP | $2.9M | – | (98.1%) |
| Net loss, three months ended September 26, 2026GAAP | −$17.2M | – | (95.3%) |
| Diluted net loss per share, three months ended September 26, 2026GAAP | $(0.20) | – | – |
| Adjusted EBITDA, three months ended September 26, 2026non-GAAP | $54.4M | – | 22.6% |
| Adjusted EBITDA Margin, three months ended September 26, 2026non-GAAP | 6.8% | – | 130 basis points |
| Adjusted Net Income from continuing operations, three months ended September 26, 2026non-GAAP | $4.4M | – | – |
| Adjusted EPS from continuing operations, three months ended September 26, 2026non-GAAP | $0.05 | – | – |
| Net revenues, nine months ended September 26, 2026GAAP | $2.34B | – | (2.9%) |
| Cost of sales, nine months ended September 26, 2026GAAP | $1.97B | – | (2.1%) |
| Gross margin, nine months ended September 26, 2026GAAP | $367.6M | – | (7.3%) |
| Selling, general and administrative, nine months ended September 26, 2026GAAP | $400.4M | – | (7.1%) |
| Restructuring and asset-related charges, net, nine months ended September 26, 2026GAAP | $18.7M | – | (41.9%) |
| Operating loss, nine months ended September 26, 2026GAAP | −$51.5M | – | (87.2%) |
| Operating loss margin, nine months ended September 26, 2026GAAP | (2.2%) | – | – |
| Loss from continuing operations, net of tax, nine months ended September 26, 2026GAAP | −$125.6M | – | (78.3%) |
| Net loss, nine months ended September 26, 2026GAAP | −$125.6M | – | (78.3%) |
| Diluted net loss per share, nine months ended September 26, 2026GAAP | $(1.45) | – | – |
| Adjusted EBITDA from continuing operations, nine months ended September 26, 2026non-GAAP | $102.9M | – | (2.3%) |
| Adjusted EBITDA Margin from continuing operations, nine months ended September 26, 2026non-GAAP | 4.4% | – | – |
| Adjusted Net Loss from continuing operations, nine months ended September 26, 2026non-GAAP | −$48M | – | – |
| Adjusted Net Loss per share from continuing operations, nine months ended September 26, 2026non-GAAP | $(0.56) | – | – |
| Net cash used in operating activities, nine months ended September 26, 2026GAAP | −$72.8M | – | an increase in cash used of $35.1 million |
| Capital expenditures, nine months ended September 26, 2026other | $57.2M | – | decreased by $46.7 million |
| Free Cash Flow used, nine months ended September 26, 2026non-GAAP | −$129.9M | – | – |
| Cash and cash equivalents, September 26, 2026GAAP | $97M | – | – |
| Total debt, September 26, 2026other | $1.28B | – | – |
| Net Debt, September 26, 2026non-GAAP | $1.18B | – | – |
| Net Debt Leverage, September 26, 2026non-GAAP | 10.3x | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| North America, three months ended September 26, 2026Core Revenues decreased (3%), driven by a (3%) decline in volume/mix due to weakened market demand. Adjusted EBITDA increased $10.7 million, or 28.3%, to $48.3 million. | $529.7M | – | (3.0%) |
| Europe, three months ended September 26, 2026Core Revenues increased 3%, driven by a 4% benefit from price realization and partially offset by unfavorable volume/mix of (1%) and an unfavorable foreign exchange impact of (1%). Adjusted EBITDA decreased ($1.0) million, or (6.5%), to $15.0 million. | $268.9M | – | 2.1% |
| North America, nine months ended September 26, 2026Adjusted EBITDA from continuing operations was $92.6 million, compared to $87.9 million. | $1.51B | – | (7.4%) |
| Europe, nine months ended September 26, 2026Adjusted EBITDA from continuing operations was $35.3 million, compared to $43.7 million. | $827.6M | – | 6.5% |
Full Year 2026 outlook
- Revenue$3.1 to $3.2 billion
- NoteAdjusted EBITDA of $120 to $150 million
- NoteCore Revenue Decline: Down (2%) to (5%)
- NoteForeign exchange benefit of approximately $50 million
- NoteOperating cash flow to generate approximately $10 million
What drove it
- Third-quarter Core Revenues decreased (1%), reflecting a (2%) decrease in volume/mix partially offset by a 1% benefit from price realization.
- North America volume/mix declined (3%) due to weakened market demand.
- Europe Core Revenues increased 3%, supported by a 4% benefit from price realization and partially offset by unfavorable volume/mix of (1%).
- Third-quarter Adjusted EBITDA Margin increased 130 basis points primarily due to tariff refunds recognized as a reduction in cost of sales, favorable productivity, and lower SG&A expense.
- The Company concluded the strategic review of the European business and is retaining the business with a focus on operational improvements and cost reductions.
Concerns
- Net revenues decreased (1.4%) in the third quarter and (2.9%) in the nine-month period.
- The Company cited continued price/cost and volume pressure in its full-year Adjusted EBITDA outlook.
- Europe Adjusted EBITDA decreased ($1.0) million, or (6.5%), in the third quarter, primarily due to unfavorable price/cost and higher bad debt expense.
- Nine-month net cash used in operating activities increased by $35.1 million, with working-capital accounts resulting in a $59.6 million unfavorable year-over-year impact.
- Net Debt Leverage increased to 10.3x from 8.8x at December 31, 2025.
What to watch
- Execution of transactions intended to extend debt maturities and raise $135.0 million of incremental liquidity.
- Whether North America volume/mix remains affected by weakened market demand.
- The durability of tariff refunds, productivity gains, and lower SG&A as contributors to Adjusted EBITDA Margin.
- Europe operational improvements and cost reductions following the conclusion of the strategic review.
- Progress toward full-year revenue guidance of $3.1 to $3.2 billion, Adjusted EBITDA guidance of $120 to $150 million, and approximately $10 million of operating cash flow.
Balance sheet and cash flow
- Cash and cash equivalents were $97.0 million at September 26, 2026, compared to $136.1 million at December 31, 2025.
- Total debt was $1,281.1 million at September 26, 2026, compared to $1,173.3 million at December 31, 2025.
- Net Debt was $1,184.1 million and Net Debt Leverage was 10.3x at September 26, 2026, compared to $1,037.2 million and 8.8x at December 31, 2025.
- Net cash used in operating activities was ($72.8) million for the nine months ended September 26, 2026, compared to ($37.7) million in the prior-year period.
- Free Cash Flow used was ($129.9) million for the nine months ended September 26, 2026, compared to ($141.6) million in the prior-year period.
- The Company commenced transactions to extend debt maturities and raise $135.0 million of incremental liquidity.
Analysis
JELD-WEN's third-quarter demand remained soft. Net revenues declined (1.4%) to $798.5 million, with Core Revenues down (1%). Volume/mix declined (2%), only partly offset by a 1% benefit from price realization. North America was the principal drag, with revenue down (3.0%) to $529.7 million and a (3%) volume/mix decline attributed to weakened market demand. Europe revenue increased 2.1% to $268.9 million, supported by price realization, although foreign exchange and volume/mix were unfavorable.
Profitability improved substantially from the prior-year quarter, although the comparison includes prior-year goodwill impairment and tax special items. Operating income was $8.8 million versus an operating loss of $(202.5) million, and net loss narrowed to $(17.2) million from $(367.6) million. On a non-GAAP basis, Adjusted EBITDA increased to $54.4 million from $44.4 million, while Adjusted EBITDA Margin expanded to 6.8% from 5.5%. The Company attributed the margin improvement primarily 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.
Segment profit performance was uneven. North America Adjusted EBITDA increased 28.3% to $48.3 million, supported by tariff refunds, improved productivity, and lower SG&A. Europe Adjusted EBITDA declined (6.5%) to $15.0 million as unfavorable price/cost and higher bad debt expense outweighed lower salaries and benefits and improved productivity. For the nine-month period, consolidated Adjusted EBITDA from continuing operations declined (2.3%) to $102.9 million despite North America growth, as Europe Adjusted EBITDA declined (19.4%).
Cash generation remains an important constraint. Net cash used in operating activities was $(72.8) million for the nine months, compared with $(37.7) million a year earlier, and the Company cited a $59.6 million unfavorable year-over-year working-capital impact. Free Cash Flow used was $(129.9) million, despite capital expenditures declining to $57.2 million from $103.9 million. Cash and cash equivalents were $97.0 million, total debt was $1,281.1 million, and Net Debt Leverage was 10.3x at September 26, 2026. The Company has commenced transactions to extend debt maturities and raise $135.0 million of incremental liquidity.
Management maintained its 2026 revenue guidance of $3.1 to $3.2 billion and Adjusted EBITDA guidance of $120 to $150 million despite a softer market outlook. The outlook assumes a Core Revenue decline of approximately (2%) to (5%), an approximately $50 million foreign exchange benefit, significant cost reductions, and continued price/cost and volume pressure. Management also expects approximately $10 million of operating cash flow for 2026. The key execution issues are demand and volume/mix trends in North America, stabilization of Europe profitability, the realization of cost reductions, and refinancing progress.
Management, verbatim
Our third-quarter results reflect the continued progress we are making to strengthen our business, even as market conditions remain challenging.
William J. Christensen, Chief Executive Officer
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.
William J. Christensen, Chief Executive Officer
Not in the filing
stated, not guessed- Previous-release outlook was not provided; therefore, no actual-versus-prior-guidance comparison is available.
- No share repurchases or dividends were reported.
- No gross margin, operating expense, or tax-rate guidance was reported.
- No prior-quarter financial comparisons were reported for the quarterly operating metrics.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was checked against the filing text, and a metric whose value, prior period and change do not add up is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
JELD-WEN reported Q3 2026 results via an SEC Form 8‑K, highlighting a small revenue decline, a narrowed net loss, and an increase in adjusted EBITDA.
Ticker impact
JELD-WEN Holding filed its Q3 2026 results, reporting a net loss of $17.2M and reaffirming full-year revenue guidance.
likely modest pressure as the market prices in the reaffirmed guidance and loss.
The filing provides fresh numbers and confirms guidance, but no upside change; traders may hold or trim positions.
Market effects
Home improvement sector may see limited impact; earnings beat expectations are modest.
U.S. listed home improvement stocks could see slight downside pressure.
Low; the news is company‑specific.
Counterpoint
The reaffirmed guidance could be a buying opportunity if the market overreacts to the loss.
Key entities
- ExecutiveWilliam J. Christensen
Chief Executive Officer of JELD-WEN
