JELD-WEN Announces Date of Earnings Release and Conference Call for 2020 Second Quarter Results and Provides Business Update

JELD-WEN Holding, Inc. (NYSE: JELD) today announced that it will release second quarter 2020 results before the market opens on Tuesday, August 4, 2020. The company will hold a conference call to discuss the results at 8 a.m. EDT that same day. Regarding second quarter business performance, Gary S. Michel, president and CEO, commented:

“Our focus at JELD-WEN remains the health and safety of our associates, customers, and partners while meeting our customers’ needs and ensuring business continuity. Despite the disruption from COVID-19, we continue to deliver on our strategy.

Although we faced temporary closures of certain manufacturing facilities due to local government mandates related to COVID-19 in April and May, demand performed largely as expected. I am pleased that our global manufacturing operations and supply chain have largely returned to normal operations.

In April and May, revenue was consistent with our original expectations, with declines of high-teens percentage compared to prior year. June revenue improved significantly on a sequential basis to approximately flat with prior year, nicely ahead of our original expectations. June results benefited from the reopening of all our manufacturing facilities and improved demand in North America and Europe, partially offset by continued weakness in Australia.

Margin improved sequentially throughout the second quarter and exceeded our original expectations due in large part to improved demand, strong price realization, benefits from cost actions, and continued savings from the deployment and adoption of our business operating system, the JELD-WEN Excellence Model.

We continue to monitor our COVID response plan in light of recent increases in COVID-19 infection rates in key markets. In response to the uncertainty of future demand, we continue to adjust our cost structure across the enterprise, and further execute our footprint rationalization and modernization program.

We look forward to discussing the details of our second quarter results on our upcoming conference call.”

Interested investors and other parties can access the call either via webcast by visiting the Investor Relations section of the company’s website at http://investors.jeld-wen.com, or by dialing [phone] and using conference ID 8976103.

For those unable to listen to the live event, a replay will be available on the company’s website approximately two hours following completion of the call.

To learn more about JELD-WEN, please visit the company’s website at https://www.jeld-wen.com/.