Jeld-Wen swings to profit in Q4
Window and door manufacturer Jeld-Wen reported net revenues of $1.09 billion for the fourth quarter 2018, nearly a 12% increase from net revenues of $975.8 million in the fourth quarter 2017.
The Charlotte, N.C.-based company said that 14% of revenue growth for the quarter was driven by acquisitions while its core business remained unchanged.
For the full year, Jeld-Wen revenues increased 15.5%, to $4.35 billion from $3.76 billion for the same period last year. The company said 15% of full-year revenue growth came from contributions from acquisitions.
Jeld-Wen swung to a profit for the quarter, posting a net income of $39.7 million, compared to a net loss of $93.7 million in the same quarter last year. For 2018, the manufacturer reported a net income of $144.3 million, compared to $10.8 million in the same period last year.
"While core operating results in the fourth quarter were challenged in certain businesses due to weak volumes, unfavorable mix, and input cost inflation, we delivered core margin expansion in our North America and Australasia segments,” said Gary Michel, president and CEO of Jeld-Wen.
Michel said the company made progress during the quarter with the deployment of its business operating system – the Jeld-Wen Excellence Model (JEM). He noted that the plan is driving improved service levels and labor efficiencies while improving relationships with channel partners and customers.
The Charlotte, N.C.-based company said that 14% of revenue growth for the quarter was driven by acquisitions while its core business remained unchanged.
For the full year, Jeld-Wen revenues increased 15.5%, to $4.35 billion from $3.76 billion for the same period last year. The company said 15% of full-year revenue growth came from contributions from acquisitions.
Jeld-Wen swung to a profit for the quarter, posting a net income of $39.7 million, compared to a net loss of $93.7 million in the same quarter last year. For 2018, the manufacturer reported a net income of $144.3 million, compared to $10.8 million in the same period last year.
"While core operating results in the fourth quarter were challenged in certain businesses due to weak volumes, unfavorable mix, and input cost inflation, we delivered core margin expansion in our North America and Australasia segments,” said Gary Michel, president and CEO of Jeld-Wen.
Michel said the company made progress during the quarter with the deployment of its business operating system – the Jeld-Wen Excellence Model (JEM). He noted that the plan is driving improved service levels and labor efficiencies while improving relationships with channel partners and customers.