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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.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 market softness in North America and Europe.
Net loss for Q3 2025 was $367.6 million, including a $196.9 million goodwill impairment and significant tax special items.
Adjusted EBITDA fell 45.6% to $44.4 million, with margin dropping to 5.5% from 8.7% last year.
Workforce reductions of approximately 11% in North America and Corporate are underway, alongside a strategic review of the European business.
Persistent inflation, operational challenges, and price-cost headwinds continue to impact performance.
Financial highlights
Gross margin for Q3 2025 was $140.9 million (17.4% of revenue), down from $179.9 million (19.2%) year-over-year.
Adjusted EBITDA was $44.4 million, down from $82 million in Q3 2024.
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 September 27, 2025, from 3.8x at December 31, 2024.
Liquidity at quarter-end was approximately $474 million, including $106.7 million in cash and $366.9 million available under the ABL Facility.
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.
Operating cash flow for 2025 expected to be an approximate $45 million use of cash, including $10–$20 million in workforce reduction costs.
CapEx forecast for 2025 is $125 million, with expectations for lower CapEx in 2026.
Market expected to continue softening, with high single-digit volume declines in North America and mid single-digit declines in Europe.
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