JELD-WEN Keeps 2026 Outlook After Adjusted Ebitda Gain

The Tip Desk · November 3, 2026 · 3 min read

Adjusted EBITDA was $54.4 million, up $10.0 million from a year earlier, as the company held 2026 revenue guidance of $3.1 to $3.2 billion.

JELD-WEN Holding (JELD), a global designer, manufacturer and distributor of doors and windows, reported third-quarter net revenues of $798.5 million, down 1.4% from a year earlier, as Core Revenues fell 1% on a 2% volume/mix decline that a 1% price-realization benefit only partly offset.

The Charlotte, North Carolina-based company posted a net loss of $17.2 million, or $0.20 a share, compared with a net loss of $367.6 million, or $4.30 a share, in the year-ago quarter. Operating margin was 1.1%, versus a 25.0% operating loss margin a year earlier.

Adjusted EBITDA rose to $54.4 million from $44.4 million a year earlier. Adjusted EBITDA margin expanded 130 basis points to 6.8%, which the company said was primarily due to tariff refunds recognized as a reduction in cost of sales, favorable productivity, and lower SG&A expense, partially offset by negative price/cost and volume/mix.

Sequentially, Adjusted EBITDA increased $12.1 million from $42.3 million in the second quarter, when the margin was 5.2%. Volume/mix pressure eased: Core Revenues declined 1% after a 2% Core decline in the second quarter, with volume/mix down 2% versus 3% then, while price realization remained a 1% benefit in both periods.

North America net revenues fell 3.0% to $529.7 million, with Core Revenues down 3% on a 3% volume/mix decline the company attributed to weakened market demand. North America Adjusted EBITDA rose 28.3% to $48.3 million, which the company said was primarily due to tariff refunds, improved productivity, and lower SG&A, partially offset by unfavorable price/cost and volume/mix. Net income in the segment was $21.2 million.

Europe net revenues increased 2.1% to $268.9 million, with Core Revenues up 3% on a 4% price-realization benefit, partially offset by unfavorable volume/mix of 1% and an unfavorable foreign-exchange impact of 1%. Europe Adjusted EBITDA decreased 6.5% to $15.0 million, which the company said was primarily due to unfavorable price/cost and higher bad-debt expense, partially offset by lower salaries and benefits and improved productivity. Net loss in Europe was $6.9 million.

The company said it commenced transactions to extend debt maturities and raise $135.0 million of incremental liquidity. It also concluded a strategic review of the European business, saying that retaining the business, with a focus on operational improvements and cost reductions, provides the best opportunity to create long-term value.

Chief Executive Officer William J. Christensen said third-quarter results reflect continued progress to strengthen the business even as market conditions remain challenging, and that the company remains focused on improving service, managing costs, and driving productivity. Despite a softer market outlook, he said the company is maintaining its full-year revenue and Adjusted EBITDA guidance while making progress on debt refinancing and the future of the European business.

JELD-WEN is maintaining 2026 revenue guidance of $3.1 to $3.2 billion. That range reflects a year-over-year decline in Core Revenues of approximately 2% to 5% versus 2025 and a foreign-exchange benefit of about $50 million. The company continues to expect Adjusted EBITDA of $120 million to $150 million, reflecting significant cost reductions, partially offset by continued price/cost and volume pressure. It expects 2026 operating cash flow of about $10 million.

Adjusted Net Income for the third quarter was $4.4 million, versus an Adjusted Net Loss of $17.3 million a year earlier. Adjusted EPS was $0.05, versus $(0.20) a year earlier. Adjusted EPS for the quarter ended September 26, 2026, excludes net after-tax charges of $21.6 million, or $0.25 a share.