JELD-WEN Q2 2021 Earnings Report
Key Takeaways
JELD-WEN Holding, Inc. announced results for the second quarter ended June 26, 2021, including net revenue of $1,245.8 million, net income of $60.7 million, and EPS of $0.60.
Net revenue increased by 25.5% to $1,245.8 million, including a 19% increase in core revenue
Gross profit increased 33.5% to $291.9 million and gross profit margin expanded 140 basis points to 23.4%
Adjusted EBITDA increased by 17.9% to $148.2 million
Repurchased 1,177,757 shares in the quarter for $33.7 million
JELD-WEN
JELD-WEN
JELD-WEN Revenue by Segment
JELD-WEN Revenue by Geographic Location
Forward Guidance
Net revenue growth expected to be within a range of 12% to 14%, compared to 8.0% to 11.0% previously. Adjusted EBITDA anticipated to be within a range of $510 million to $535 million, compared to the previous range of $505 million to $535 million. Projected capital expenditures are expected to be within a range of $130 million to $140 million, unchanged from the previous outlook
Positive Outlook
- Revenue growth from the acceleration in housing demand in our primary markets
- Improved product mix
- Increased pricing
- A positive impact from foreign exchange
- Margin expansion from volume, pricing, and productivity
Challenges Ahead
- Higher expenses related to material and freight inflation
- Higher SG&A
- The outlook does not include the impact of potential acquisitions or divestitures
- Assumes no new COVID-19 lockdowns or restrictions
- COVID-19 lockdowns or restrictions, which could unfavorably impact our operations, labor availability, and supply chain continuity
Revenue & Expenses
Visualization of income flow from segment revenue to net income