Jeld-Wen reports revenue gains, return to normal operations

Jeld-Wen reports revenue gains, return to normal operations

July 31, 2020

Charlotte, NC -

Jeld-Wen Holding, Inc. has reported strong demand and a return to normal for its supply chain.

“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,” said Gary S. Michel, president and CEO. “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.”

Michel made the comments as part of an announcement that the company will release second quarter 2020 results August 4, 2020.

Michel said that margin improved sequentially throughout the second quarter and exceeded the company’s 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 their business operating system.

“We continue to monitor our Covid response plan in light of recent increases in Covid-19 infection rates in key markets,” Michel said. “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.”

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