CHARLOTTE, N.C. - JELD-WEN (NYSE:JELD) Holding, Inc. (NYSE: JELD), a global manufacturer of building products, announced today that it will not be attending the upcoming Jefferies Industrial Conference scheduled for Thursday. The company cited the reason for the withdrawal as senior management testing positive for COVID-19.
JELD-WEN, known for its extensive range of interior and exterior doors, windows, and related building products, has made significant strides in the new construction and repair and remodeling sectors. With a workforce of about 18,000 associates, the company operates across 15 countries in North America and Europe.
The participation in industry conferences like the Jefferies Industrial Conference is typically an opportunity for companies to engage with investors, discuss performance, and share strategic insights. However, due to the unexpected health-related issue, JELD-WEN's senior management will be unable to present or participate in any discussions at the event.
The company's announcement comes at a time when businesses worldwide continue to navigate the challenges posed by the COVID-19 pandemic, including maintaining the health and safety of their workforce while also trying to fulfill their commitments to stakeholders.
JELD-WEN's portfolio includes well-known brands such as JELD-WEN® globally, LaCantina™ and VPI™ in North America, and Swedoor® and DANA® in Europe. Despite the setback, JELD-WEN remains focused on delivering high-performance products to its customers.
Today's statement is based on a press release issued by JELD-WEN Holding, Inc. The company has not provided further details regarding the condition of the senior management team or any potential impact on JELD-WEN's operations or business activities moving forward.
In other recent news, JELD-WEN Holding, Inc. has announced a series of financial moves. The company has initiated a $350 million offering of 7.00% senior unsecured notes due 2032. The proceeds are expected to fund the redemption of outstanding 4.625% Senior Notes due 2025 and partially repay borrowings under a term loan facility. Simultaneously, JELD-WEN has maintained its financial guidance for 2024, despite softer demand in North America and Europe. The company is on track to deliver $100 million in cost savings and anticipates an operating cash flow of approximately $200 million. Furthermore, JELD-WEN has announced the closure of two facilities, contributing to annual EBITDA savings of at least $11 million. The company expects its 2024 revenue to fall between $3.9 billion and $4.1 billion, with adjusted EBITDA guidance set at $340 million to $380 million. These developments are part of the company's ongoing transformation journey.
InvestingPro Insights
In light of JELD-WEN Holding, Inc.'s recent announcement regarding their withdrawal from the Jefferies Industrial Conference, investors may be looking for additional insights into the company's financial health and market performance. According to real-time data from InvestingPro, JELD-WEN has a market capitalization of approximately $1.16 billion. The company's price-to-earnings (P/E) ratio stands at -31.4, reflecting challenges in profitability, with a more pronounced adjusted P/E ratio for the last twelve months as of Q2 2024 at -1164.23. Despite these figures, JELD-WEN's gross profit margin remains steady at 19.14% as of the same period.
One of the InvestingPro Tips for JELD-WEN indicates that net income is expected to grow this year, which could signal a potential turnaround for the company. Additionally, while analysts have revised their earnings downwards for the upcoming period, they also predict that the company will be profitable this year. This juxtaposition of expectations suggests that investors should monitor the company's upcoming financial reports closely.
It's worth noting that JELD-WEN does not pay a dividend to shareholders, which may be a consideration for income-focused investors. For those interested in deeper analysis, there are additional InvestingPro Tips available for JELD-WEN, which can be accessed through the dedicated InvestingPro product page.
For further insights and tips on JELD-WEN and to stay informed about the company's financial performance and market position, investors can visit https://www.investing.com/pro/JELD. With access to real-time data and expert analysis, InvestingPro provides valuable resources to help make informed investment decisions.
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