JELD-WEN (NYSE:JELD) just dropped its fourth quarter and full year 2025 numbers, and let me tell you, traders are not feeling warm and fuzzy right now. Net revenues for Q4 came in at $802 million, a staggering decrease of 10.5% from the previous year. This is bad—real bad. Core revenues took an even worse hit with an 8% drop, compounded by a divestiture loss from Towanda that knocked off another 5%. Sure, they had some foreign exchange windfall of about 3%, but let's face it: that's like putting a Band-Aid on a bullet wound.
And here’s the kicker—net loss from continuing operations was clocked at $40.1 million or $0.47 per share, a slight improvement over last year's loss of $68.4 million or $0.81 per share during the same quarter. Sounds like progress? Only if you're drinking the Kool-Aid because that operating margin still stinks at -1.8%, compared to -5.7% last year.
Adjusted EBITDA: The Pain Continues
The real horror show lies in JELD's Adjusted EBITDA, which plummeted to just $14.8 million—a mind-numbing drop of nearly $25 million from the prior year’s figure of $40.1 million! When you break it down further to margins, we're looking at a decrease of 270 basis points down to 1.8%. Unfavorable price/cost dynamics coupled with volume/mix issues have left them gasping for air.
"We have realigned our workforce... while staying close to our customers," said CEO William J. Christensen.
Yeah? Because what I see is a company scrambling without clear direction as they try to navigate these choppy waters—what does 'staying close' even mean when your core numbers are tanking?
