Jeld-wen Holding, Inc. · NYSE:JELD
Jeld-wen — Q2 2025 Earnings Presentation
29 slides from Jeld-wen's earnings presentation, Aug 6, 2025
Slide 1: Second Quarter 2025 Results
Second Quarter 2025 Results August 6, 2025
Slide 2: Speakers
Speakers Bill Christensen CEO Samantha Stoddard CFO
Slide 3: Disclosures
Disclosures Certain statements in this presentation, including our guidance and business strategies, are forward- looking statements that involve risk, uncertainty and assumptions, and are based on information as of August 6, 2025. Actual results may differ materially from those set forth in such st
Slide 4: Second Quarter 2025 Highlights
Second Quarter 2025 Highlights Second Quarter 2025 ▪ Sales of $824 million ▪ Adjusted EBITDA of $39 million ❑ 4.7% of Sales ▪ Implementing cost reduction actions OVERDELIVERED Q2 AMID CONTINUED MARKET UNCERTAINTY 4
Slide 5: Q2 2025 Financial Results
Q2 2025 Financial Results mm i My ‘
Slide 6: Q2 2025 Financial Summary
Q2 2025 Financial Summary USD in Millions Net Revenue Adjusted EBITDA Adjusted EBITDA Margin -390 bps -16% -54% $986 $85 8.6% $824 $39 4.7% Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Core Revenue down (13%) driven Volume / mix challenges driving lower earnings by lower volume / mix MACROECONOMI
Slide 7: Q2 2025 Revenue Bridge
Q2 2025 Revenue Bridge USD in Millions $986 $8 ($139) $14 $824 ($45) Core Revenue (13%) Q2 2024 Price Volume / Mix Court-Ordered Foreign Exchange Q2 2025 Divestiture LOWER VOLUME / MIX FROM PERSISTING MARKET HEADWINDS 7
Slide 8: Q2 2025 Adjusted EBITDA Bridge
Q2 2025 Adjusted EBITDA Bridge USD in Millions $85 ($6) $10 $5 $39 ($9) ($46) Adj. Margin Adj. Margin 8.6% 4.7% Q2 2024 Price / Cost Volume / Mix Productivity SG&A / Other Court-Ordered Q2 2025 Income Divestiture LOWER VOLUME/MIX OFFSETS COST SAVINGS MEASURES 8
Slide 9: Q2 2025 Segment Results
Q2 2025 Segment Results USD in Millions Q2 2024 Q1 2025 Segment Highlights North America Q2 2025 (Prior Year) (Previous Quarter) Net Revenue $556 $711 $531 ▪ Lower volume / mix Adjusted EBITDA $35 $76 $16 - North America down (16%) Adjusted EBITDA margin 6.3% 10.6% 2.9% • Mainly driven by volume - E
Slide 10: Potential Impact of Tariffs
Potential Impact of Tariffs USD in Millions – Tariffs as of August 4th 2024 North America Direct Percent of Material Costs By Country With Exposure to Tariffs Material Costs Exposed to Tariffs 7% Tier 1 8% 5% Tier 2 5% 87% No Exposure ▪ Annualized tariff impact: ~$40M - Approx. $17M in 2025 1% - Exp
Slide 11: Outlook
Outlook
Slide 12: Reinstating 2025 Guidance
Reinstating 2025 Guidance Net Revenue Operating Cash Flow $3.2B to $3.4B ~($10M) Core Revenue Cap Ex Down (4%) to (9%) ~$150M Adjusted EBITDA Free Cash Flow $170M to $200M ~($150M) SIGNIFICANT LIQUIDITY WHILE EXPLORING OPTIONS TO DE-LEVER 12
Slide 13: 2025 Guidance Bridge
2025 Guidance Bridge Adjusted EBITDA; USD in Millions $275 $225 ($50) $100 $4 $185 ($24) ($64) $50 ($50) ($27) ($29) 2024 EBITDA Court- 2024 EBITDA Market Pruning / Price / Cost Base Headwind Transformation Variable Other / FX 2025 EBITDA Orderd Without Volume / Mix Share Loss Productivity Mitigatio
Slide 14: Service Level Improvement Network
JELD-WEN In 2025 Service Level Network Investing to Improvement Optimization Reduce Costs IN THE NEXT PHASE OF OUR TRANSFORMATION 14
Slide 15: Appendix
Appendix
Slide 16: Guidance Assumptions
Guidance Assumptions +/– Market continues to soften, with comparisons year-over-year stabilizing in 2H – Share loss from Midwest customer anniversaries in 2H – Price/Cost decline driven by pricing adjustments to maintain volume – Base productivity reduction driven by volume deleveraging + Transforma
Slide 17: Q2 2025 Net Revenue Walk
Q2 2025 Net Revenue Walk Q2 2025 JELD-WEN North America Europe Price 1% 1% 2% Volume / Mix (14%) (16%) (10%) Core Revenue Growth (13%) (15%) (8%) FX 1% -% 5% Court-Ordered Divestiture (5%) (7%) -% Total (16.5%) (21.8%) (2.7%) 17
Slide 18: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow USD in Millions Cash Flow (YTD) Q2 2025 Q2 2024 Net cash used in (provided by) operating ($49) $40 activities Capital Expenditures(1) ($76) ($74) Free Cash Flow(2) ($125) ($34) Balance Sheet June 28, 2025 December 31, 2024 Total Debt $1,179 $1,183 Cash $134 $150 Net Debt(
Slide 19: Q2 YTD 2025 Revenue Bridge
Q2 YTD 2025 Revenue Bridge USD in Millions $1,945 $13 ($288) $4 $1,600 ($74) Core Revenue (14%) YTD 2024 Price Volume / Mix Court-Ordered Foreign Exchange YTD 2025 Divestiture LOWER VOLUME / MIX FROM PERSISTING MARKET HEADWINDS 19
Slide 20: Q2 YTD 2025 Adjusted EBITDA Bridge
Q2 YTD 2025 Adjusted EBITDA Bridge USD in Millions $154 ($14) $22 $61 ($14) ($84) ($2) Adj. Margin Adj. Margin 7.9% 3.8% YTD 2024 Price / Cost Volume / Mix Productivity SG&A / Other Court-Ordered YTD 2025 Income Divestiture Note: Amounts do not foot due to rounding LOWER VOLUME/MIX OFFSETS COST SAVI
Slide 21: Adjusted Net (Loss) Income From Continuing Operations Reconciliation
Adjusted Net (Loss) Income From Continuing Operations Reconciliation USD in Millions Three Months Ended Six Months Ended (amounts in millions) June 28, 2025 June 29, 2024 June 28, 2025 June 29, 2024 Loss from continuing operations, net of tax $ (22.3) $ (18.5) $ (212.4) $ (46.2) Special items:(1) Ne
Slide 22: Adjusted Net (Loss) Income Per Share Reconciliation
Adjusted Net (Loss) Income Per Share From Continuing Operations Reconciliation Three Months Ended Six Months Ended June 28, 2025 June 29, 2024 June 28, 2025 June 29, 2024 Diluted loss per share from continuing operations $ (0.26) $ (0.22) $ (2.50) $ (0.54) Special items:(1) Net legal and professiona
Slide 23: Adjusted EBITDA From Continuing Operations Reconciliation
Adjusted EBITDA From Continuing Operations Reconciliation USD in Millions Three Months Ended Six Months Ended (amounts in millions) June 28, 2025 June 29, 2024 June 28, 2025 June 29, 2024 Loss from continuing operations, net of tax $ (22.3) $ (18.5) $ (212.4) $ (46.2) Income tax (benefit) expense (3
Slide 24: Q2 2025 QTD Segment Adjusted EBITDA Reconciliation
Q2 2025 QTD Segment Adjusted EBITDA From Continuing Operations Reconciliation USD in Millions Three Months Ended June 28, 2025 Corporate and North Unallocated Total (amounts in millions) America Europe Costs Consolidated Income (loss) from continuing operations, net of tax $ 8.9 $ (4.0) $ (27.3) $ (
Slide 25: Q2 2024 QTD Segment Adjusted EBITDA Reconciliation
Q2 2024 QTD Segment Adjusted EBITDA From Continuing Operations Reconciliation USD in Millions Three Months Ended June 29, 2024 Corporate and North Unallocated Total (amounts in millions) America Europe Costs Consolidated Income (loss) from continuing operations, net of tax $ 30.7 $ (5.0) $ (44.2) $
Slide 26: Q1 2025 QTD Segment Adjusted EBITDA Reconciliation
Q1 2025 QTD Segment Adjusted EBITDA Reconciliation USD in Millions Three Months Ended March 29, 2025 Corporate and North Unallocated Total (amounts in millions) America Europe Costs Consolidated Loss, net of tax $ (161.2) $ (3.5) $ (25.4) $ (190.1) Income tax expense (benefit) 9.4 1.9 (10.6) 0.6 Dep
Slide 27: Q2 2025 YTD Segment Adjusted EBITDA Reconciliation
Q2 2025 YTD Segment Adjusted EBITDA From Continuing Operations Reconciliation USD in Millions Six Months Ended June 28, 2025 Corporate and North Unallocated Total (amounts in millions) America Europe Costs Consolidated Loss from continuing operations, net of tax $ (152.3) $ (7.4) $ (52.7) $ (212.4)
Slide 28: Q2 2024 YTD Segment Adjusted EBITDA Reconciliation
Q2 2024 YTD Segment Adjusted EBITDA From Continuing Operations Reconciliation USD in Millions Six Months Ended June 29, 2024 Corporate and North Unallocated Total (amounts in millions) America Europe Costs Consolidated Income (loss) from continuing operations, net of tax $ 47.0 $ (5.0) $ (88.2) $ (4
Slide 29: Q2 2025 TTM Adjusted EBITDA Reconciliation
Q2 2025 TTM Adjusted EBITDA From Continuing Operations Reconciliation USD in Millions Trailing Twelve Months (amounts in millions) June 28, 2025 December 31, 2024 Loss from continuing operations, net of tax $ (353.8) $ (187.6) Income tax expense 7.7 16.8 Depreciation and amortization 110.8 125.8 Int