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Jeld-Wen (JELD) investor relations material
Jeld-Wen Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Q3 2025 net revenues declined 13.4% year-over-year to $809.5 million, driven by lower core volumes, the Towanda divestiture, and persistent inflation, with a $196.9 million goodwill impairment and significant restructuring actions including an 11% workforce reduction in North America and a strategic review of the European business.
Net loss for Q3 2025 was $367.6 million, compared to $74.4 million in Q3 2024, primarily due to goodwill impairment and restructuring charges.
Adjusted EBITDA fell 45.6% to $44.4 million, with margin dropping to 5.5% from 8.7% last year.
Liquidity at quarter-end was approximately $474 million, with no debt maturities until December 2027.
Restructuring and transformation initiatives are ongoing to address market deterioration and operational challenges.
Financial highlights
Q3 2025 revenue was $809.5 million, down from $935 million in Q3 2024, with core revenue down 10% year-over-year.
Adjusted EBITDA was $44.4 million, down from $82 million in Q3 2024.
Gross margin for Q3 2025 was $140.9 million (17.4% of revenue), down from $179.9 million (19.2%) year-over-year.
Free cash flow used in the nine months ended September 27, 2025, was $(141.6) million, compared to $(40.0) million in the prior year.
Net debt leverage increased to 7.4x as of Q3 2025, compared to 3.8x at year-end 2024.
Outlook and guidance
2025 revenue guidance lowered to $3.1–$3.2 billion, with core revenue expected to decline 10%–13% year-over-year.
Adjusted EBITDA guidance for 2025 reduced to $105–$120 million, down from prior guidance of $170–$200 million.
Operating cash flow for 2025 expected to be an approximate $45 million use of cash, including $10–$20 million in workforce reduction costs.
CapEx for 2025 reduced to $125 million, with expectations for lower CapEx in 2026.
Management expects continued headwinds from weak market demand, persistent inflation, and elevated interest rates.
What drives the Europe segment strategic review?
Plan to reduce Net Debt Leverage
What specific factors led to lower 2025 guidance?
Primary goal of European business strategic review?
Key drivers for 2025 EBITDA guidance reduction?
Plans to reduce 7.4x net debt leverage?
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Q4 202517 Feb, 2026
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Frequently asked questions
JELD-WEN Holding, Inc. engages in the manufacture and distribution of windows and doors for residential, commercial and industrial applications worldwide. The company also provides related product lines comprising wood window accessories, moulding and framing products, window film, hardware and tools. The company was founded in 1960 and is headquartered in Charlotte, North Carolina.
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