Jeld-wen Holding, Inc. · NYSE:JELD
Jeld-wen — Q1 2026 Earnings Presentation
28 slides from Jeld-wen's earnings presentation, May 5, 2026
Slide 1: First Quarter 2026 Results
First Quarter 2026 Results May 5, 2026
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 May 5, 2026. Actual results may differ materially from those set forth in such state
Slide 4: First Quarter 2026 Summary
First Quarter 2026 Summary First Quarter 2026 ▪ Sales of $722 million ▪ Adjusted EBITDA of $6 million ❑ 0.9% of sales ▪ Disciplined cash management ▪ Strategic review of Europe ongoing INVESTING FOR OUR CUSTOMERS WITH SERVICE IMPROVEMENT 4
Slide 5: Q1 2026 Financial Results
Q1 2026 Financial Results
Slide 6: Q1 2026 Financial Summary
Q1 2026 Financial Summary USD in Millions Net Revenue Adjusted EBITDA Adjusted EBITDA Margin -190 bps -7% -72% $776 $22 2.8% $722 $6 0.9% Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Core Revenue down (10%) driven Volume / mix & price / cost challenges driving lower earnings by lower volume / mix
Slide 7: Q1 2026 Revenue Bridge
Q1 2026 Revenue Bridge USD in Millions $776 $2 $30 $722 ($79) ($7) Core Revenue (10%) Q1 2025 Price Volume / Mix Court-Ordered Foreign Exchange Q1 2026 Towanda Divestiture LOWER VOLUME / MIX FROM PERSISTING MARKET HEADWINDS 7
Slide 8: Q1 2026 Adjusted EBITDA Bridge
Q1 2026 Adjusted EBITDA Bridge USD in Millions $22 $6 $6 Adj. Margin Adj. Margin 2.8% 0.9% $22 ($21) ($22) Q1 2025 Price / Cost Volume / Mix Productivity SG&A / Other Q1 2026 Income / FX Note: Amounts do not foot due to rounding LOWER VOLUME / MIX OFFSETS COST SAVINGS MEASURES 8
Slide 9: Q1 2026 Segment Results
Q1 2026 Segment Results USD in Millions Segment Highlights North America Q1 2026 Q1 2025 Q4 2025 ▪ North America revenue (Prior Year) (Previous Quarter) Net Revenue $453 $531 $522 down (15%) year-over-year Adjusted EBITDA $4 $16 $12 • Core revenue down (14%) Adjusted EBITDA margin 0.8% 2.9% 2.2% • M
Slide 10: Outlook
Outlook
Slide 11: Market Outlook 2026
Market Outlook 2026 North America Europe Low-to-Mid Stable Single-Digit Volumes Volume Decline New single-family construction Residential construction Down low single-digits Stable year-over-year Repair & Remodel Commercial projects Down mid single-digits Stable year-over-year Multi-family & Canada
Slide 12: 2026 Updated Guidance
2026 Updated Guidance Net Revenue Operating Cash Flow $3.05B to $3.2B ~$40M Core Revenue Cap Ex Down (3%) to (6%) ~$100M Adjusted EBITDA Free Cash Flow $100M to $150M ~($60M) FOCUS ON CASH FLOW DISCIPLINE 12
Slide 13: 2026 Guidance Bridge
2026 Guidance Bridge Adjusted EBITDA; USD in Millions $35 $125 $118 ($8) $75 ($25) ($30) ($40) 2025 EBITDA Market Share Loss Price / Cost Rightsizing Transformation Other / FX 2026 EBITDA Volume / Mix Volume / Mix Business / Carryover Guidance Base Midpoint Productivity ADDITIONAL PRICE/COST HEADWIN
Slide 14: North American On-Time, In-Full Rates (OTIF)
North American On-Time, In-Full Rates (OTIF) 90% 68% Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 SIGNIFICANT IMPROVEMENT IN DELIVERY METRICS 14
Slide 15: Strategic Review of Europe
JELD-WEN Next Steps Strategic Rightsizing Drive Review of North Customer Europe America Service REDEFINING HOW JELD-WEN COMPETES 15
Slide 16: Appendix
Appendix
Slide 17: Key Assumptions for 2026
Key Assumptions for 2026 USD in Millions Key Assumption 2026 Estimate Depreciation and Amortization ~$115 Interest Expense, net $70 to $75 Cash Taxes Paid $7 to $15 Diluted Share Count ~86 million ✓ Full-year EBITDA split ~30% in 1H ✓ Price / Cost negative vs 2025 ✓ Expect foreign exchange translati
Slide 18: Potential Impact of Tariffs
Potential Impact of Tariffs USD in Millions – Tariffs as of April 14th 2026 North America Direct Percent of Material Costs By Country With Exposure to Tariffs Material Costs Exposed to Tariffs 11% Tier 1 12% 4% Tier 2 84% No Exposure 4% ▪ Annualized tariff impact: ~$13M - Assumes 10% tariff rate thr
Slide 19: Q1 2026 Net Revenue Walk
Q1 2026 Net Revenue Walk Q1 2026 JELD-WEN North America Europe Price -% (1%) 2% Volume / Mix (10%) (13%) (4%) Core Revenue Growth (10%) (14%) (2%) FX 4% -% 12% Court-Ordered Divestiture (1%) (1%) -% Total (6.9%) (14.7%) 9.8% 19
Slide 20: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow USD in Millions Cash Flow (YTD) Q1 2026 Q1 2025 Net cash used in operating activities ($91) ($83) Capital Expenditures(1) ($26) ($42) Free Cash Flow(2) ($117) ($125) Balance Sheet March 28, 2026 December 31, 2025 Total Debt $1,209 $1,173 Cash $50 $136 Net Debt(3) $1,159 $
Slide 21: Adjusted Net Loss Reconciliation
Adjusted Net Loss Reconciliation USD in Millions Three Months Ended (amounts in millions) March 28, 2026 March 29, 2025 Loss, net of tax $ (76.8) $ (190.1) Special items:(1) Net legal and professional expenses and settlements 12.8 11.9 Goodwill impairment — 137.7 Restructuring and asset-related char
Slide 22: Adjusted Net Loss Per Share Reconciliation
Adjusted Net Loss Per Share Reconciliation Three Months Ended March 28, 2026 March 29, 2025 Diluted loss per share $ (0.90) $ (2.24) Special items:(1) Net legal and professional expenses and settlements 0.15 0.14 Goodwill impairment — 1.62 Restructuring and asset-related charges, net 0.02 0.17 M&A r
Slide 23: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation USD in Millions Three Months Ended (amounts in millions) March 28, 2026 March 29, 2025 Loss, net of tax $ (76.8) $ (190.1) Income tax expense 3.4 0.6 Depreciation and amortization 29.4 27.3 Interest expense, net 17.2 14.9 Special items: Net legal and professional expen
Slide 24: Q1 2026 YTD Segment Adjusted EBITDA Reconciliation
Q1 2026 YTD Segment Adjusted EBITDA Reconciliation USD in Millions Three Months Ended March 28, 2026 Corporate and North Unallocated Total (amounts in millions) America Europe Costs Consolidated Loss, net of tax $ (35.0) $ (10.1) $ (31.8) $ (76.8) Income tax expense (benefit) 13.5 2.8 (13.0) 3.4 Dep
Slide 25: Q1 2025 YTD Segment Adjusted EBITDA Reconciliation
Q1 2025 YTD 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 26: Q4 2025 QTD Segment Adjusted EBITDA Reconciliation
Q4 2025 QTD Segment Adjusted EBITDA Reconciliation USD in Millions Three Months Ended December 31, 2025 Corporate and North Unallocated Total (amounts in millions) America Europe Costs Consolidated Income (loss) from continuing operations, net of tax $ 66.0 $ (12.1) $ (96.1) $ (42.2) Income tax (ben
Slide 27: Q4 2025 YTD Segment Adjusted EBITDA Reconciliation
Q4 2025 YTD Segment Adjusted EBITDA Reconciliation USD in Millions Year Ended December 31, 2025 Corporate and North Unallocated Total (amounts in millions) America Europe Costs Consolidated Loss from continuing operations, net of tax $ (267.6) $ (172.9) $ (181.8) $ (622.2) Income tax expense(1) 114.
Slide 28: Q1 2026 TTM Adjusted EBITDA Reconciliation
Q1 2026 TTM Adjusted EBITDA Reconciliation USD in Millions Trailing Twelve Months Ended (amounts in millions) March 28, 2026 December 31, 2025 Loss, net of tax $ (509.0) $ (622.2) Income tax expense 150.7 147.9 Depreciation and amortization 114.5 112.4 Interest expense, net 69.5 67.2 Special items:(