JELD-WEN Reports 6.9% Revenue Decline in Q1 2026, Operating Loss Improves

JELD-WEN Holding, Inc. reported a decline in financial performance for the first quarter of 2026, with net revenues of $722.1 million, down 6.9% from $776.0 million in the same period last year. The decrease was attributed to a 10% drop in Core Revenues, primarily driven by a reduction in volume and mix, alongside a 1% decline in revenues from the court-ordered divestiture of the Towanda operations. However, a favorable foreign exchange impact of 4% partially offset these declines. The company's gross margin also fell to $92.7 million, representing 12.8% of net revenues, compared to 14.4% in the prior year, largely due to negative price/cost dynamics and the impact of volume/mix.

The company recorded an operating loss of $55.2 million, an improvement from a loss of $185.0 million in the previous year, which included significant goodwill impairment charges of $137.7 million. Selling, general, and administrative expenses (SG&A) increased slightly to $146.0 million, primarily due to legal settlements, while restructuring and asset-related charges decreased significantly to $2.0 million from $14.5 million. The net loss for the quarter was $76.8 million, compared to a loss of $190.1 million in the same quarter of 2025.

Operationally, JELD-WEN's North America segment saw revenues decrease by 14.7% to $452.7 million, driven by a 13% decline in volume/mix and a 1% drop in pricing. In contrast, the Europe segment experienced a 9.8% increase in revenues to $269.4 million, aided by a favorable foreign exchange impact. Adjusted EBITDA for North America fell sharply by 76.7% to $3.6 million, while Europe reported a decrease of 33.6% to $7.1 million, reflecting unfavorable volume/mix impacts.

In terms of strategic developments, JELD-WEN continues to navigate its restructuring initiatives aimed at improving productivity and operational efficiency. The company has made significant progress in transforming its North American operations, with plans to close additional facilities and optimize its manufacturing footprint. As of March 28, 2026, total liquidity stood at $309.9 million, down from $484.7 million at the end of 2025, primarily due to lower cash balances and net borrowings of $40.0 million. The company anticipates that cash generated from operations, along with available liquidity, will be sufficient to meet its operational and capital expenditure needs over the next twelve months.

Looking ahead, JELD-WEN remains focused on addressing market challenges and enhancing its operational framework. The company is committed to managing its debt levels, with total indebtedness reported at $1.22 billion, including $19.5 million in short-term obligations due within the next year. The management's outlook emphasizes the importance of strategic asset management and operational efficiency to navigate the evolving market landscape.