Jeld-wen Holding, Inc. · NYSE:JELD
Jeld-wen — Q3 2025 Earnings Presentation
30 slides from Jeld-wen's earnings presentation, Nov 4, 2025
Slide 1: Third Quarter 2025 Results
Third Quarter 2025 Results November 4, 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 November 4, 2025. Actual results may differ materially from those set forth in such
Slide 4: Third Quarter 2025 Summary
Third Quarter 2025 Summary Third Quarter 2025 ▪ Sales of $809 million ▪ Adjusted EBITDA of $44 million ❑ 5.5% of Sales ▪ Restructuring actions underway FURTHER MARKET DETERIORATION IMPACTING FY OUTLOOK 4
Slide 5: Q3 2025 Financial Results
Q3 2025 Financial Results
Slide 6: Q3 2025 Financial Summary
Q3 2025 Financial Summary USD in Millions Net Revenue Adjusted EBITDA Adjusted EBITDA Margin -320 bps -13% -46% $935 $82 8.7% $809 $44 5.5% Q3 2024 Q3 2025 Q3 2024 Q3 2025 Q3 2024 Q3 2025 Core Revenue down (10%) driven Volume / mix & price / cost challenges driving lower earnings by lower volume / m
Slide 7: Q3 2025 Revenue Bridge
Q3 2025 Revenue Bridge USD in Millions $935 $5 ($102) $16 $809 ($44) Core Revenue (10%) Q3 2024 Price Volume / Mix Court-Ordered Foreign Exchange Q3 2025 Note: Amounts do not foot due to rounding Towanda Divestiture LOWER VOLUME / MIX FROM PERSISTING MARKET HEADWINDS 7
Slide 8: Q3 2025 Adjusted EBITDA Bridge
Q3 2025 Adjusted EBITDA Bridge USD in Millions $82 ($11) $10 $7 $44 ($9) ($33) Adj. Margin Adj. Margin 8.7% 5.5% Q3 2024 Price / Cost Volume / Mix Productivity SG&A / Other Court-Ordered Q3 2025 Income Towanda Divestiture Note: Amounts do not foot due to rounding LOWER VOLUME / MIX OFFSETS COST SAVI
Slide 9: Q3 2025 Segment Results
Q3 2025 Segment Results USD in Millions Q3 2024 Q2 2025 Segment Highlights North America Q3 2025 (Prior Year) (Previous Quarter) Net Revenue $546 $678 $556 ▪ Lower volume / mix Adjusted EBITDA $38 $75 $35 - North America down (13%) Adjusted EBITDA margin 6.9% 11.0% 6.3% • Mainly driven by volume - E
Slide 10: Potential Impact of Tariffs
Potential Impact of Tariffs USD in Millions – Tariffs as of October 31st 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: ~$45M - Approx. $17M in 2025 1% Chi
Slide 11: Outlook
Outlook
Slide 12: Market Outlook
Market Outlook North America Europe High Single-Digit Mid Single-Digit Volume Decline Volume Decline New single-family construction Residential construction Down high single-digits Down mid single-digits Repair & Remodel Commercial projects Down high single-digits Down slightly Multi-family & Canada
Slide 13: Updating 2025 Guidance
Updating 2025 Guidance Net Revenue Operating Cash Flow $3.1B to $3.2B ~($45M) Core Revenue Cap Ex Down (10%) to (13%) ~$125M Adjusted EBITDA Free Cash Flow $105M to $120M ~($160M) SIGNIFICANT LIQUIDITY ON HAND WHILE EXPLORING OPTIONS TO DE -LEVER 13
Slide 14: 2025 Guidance Bridge
2025 Guidance Bridge Adjusted EBITDA; USD in Millions $275 $225 ($50) $100 $14 $113 ($107) ($17) ($50) $50 ($47) ($55) 2024 EBITDA Court- 2024 EBITDA Market Pruning / Price / Cost Base Headwind Transformation Variable Other / FX 2025 EBITDA Ordered Without Volume / Mix Share Loss Productivity Mitiga
Slide 15: Strategic Review of Europe
JELD-WEN Next Steps Strategic Rightsizing Simplify Review of North Product Europe America Portfolio REDEFINING HOW JELD-WEN COMPETES 15
Slide 16: Appendix
Appendix
Slide 17: Guidance Assumptions
Guidance Assumptions – Market continues to soften – 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 + Transformation/Headwind mitigations on track MARKET IMPACTS OUT
Slide 18: Q3 2025 Net Revenue Walk
Q3 2025 Net Revenue Walk Q3 2025 JELD-WEN North America Europe Price 1% -% 2% Volume / Mix (11%) (13%) (6%) Core Revenue Growth (10%) (13%) (4%) FX 2% -% 6% Court-Ordered Divestiture (5%) (7%) -% Total (13.4%) (19.4%) 2.6% 18
Slide 19: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow USD in Millions Cash Flow (YTD) Q3 2025 Q3 2024 Net cash (used in) provided by operating ($38) $78 activities Capital Expenditures(1) ($104) ($118) Free Cash Flow(2) ($142) ($40) Balance Sheet September 27, 2025 December 31, 2024 Total Debt $1,183 $1,183 Cash $107 $150 Ne
Slide 20: Q3 YTD 2025 Revenue Bridge
Q3 YTD 2025 Revenue Bridge USD in Millions $2,880 $18 ($390) $19 $2,409 ($119) Core Revenue (13%) YTD 2024 Price Volume / Mix Court-Ordered Foreign Exchange YTD 2025 Note: Amounts do not foot due to rounding Divestiture LOWER VOLUME / MIX FROM PERSISTING MARKET HEADWINDS 20
Slide 21: Q3 YTD 2025 Adjusted EBITDA Bridge
Q3 YTD 2025 Adjusted EBITDA Bridge USD in Millions $235 ($26) $35 $105 $2 ($24) ($118) Adj. Margin Adj. Margin 8.2% 4.4% 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 22: Adjusted Net (Loss) Income From Continuing Operations Reconciliation
Adjusted Net (Loss) Income From Continuing Operations Reconciliation USD in Millions Three Months Ended Nine Months Ended (amounts in millions) September 27, 2025 September 28, 2024 September 27, 2025 September 28, 2024 Loss from continuing operations, net of tax $ (170.7) $ (73.0) $ (383.1) $ (119.
Slide 23: Adjusted Net (Loss) Income Per Share From Continuing Operations Reconciliation
Adjusted Net (Loss) Income Per Share From Continuing Operations Reconciliation Three Months Ended Nine Months Ended September 27, 2025 September 28, 2024 September 27, 2025 September 28, 2024 Diluted loss per share from continuing operations $ (2.00) $ (0.86) $ (4.50) $ (1.40) Impact of additional d
Slide 24: Adjusted EBITDA From Continuing Operations Reconciliation
Adjusted EBITDA From Continuing Operations Reconciliation USD in Millions Three Months Ended Nine Months Ended (amounts in millions) September 27, 2025 September 28, 2024 September 27, 2025 September 28, 2024 Loss from continuing operations, net of tax $ (170.7) $ (73.0) $ (383.1) $ (119.2) Income t
Slide 25: Q3 2025 QTD Segment Adjusted EBITDA Reconciliation
Q3 2025 QTD Segment Adjusted EBITDA From Continuing Operations Reconciliation USD in Millions Three Months Ended September 27, 2025 Corporate and North Unallocated Total (amounts in millions) America Europe Costs Consolidated Loss from continuing operations, net of tax $ (137.7) $ — $ (33.0) $ (170.
Slide 26: Q3 2024 QTD Segment Adjusted EBITDA Reconciliation
Q3 2024 QTD Segment Adjusted EBITDA From Continuing Operations Reconciliation USD in Millions Three Months Ended September 28, 2024 Corporate and North Unallocated Total (amounts in millions) America Europe Costs Consolidated Income (loss) from continuing operations, net of tax $ 35.8 $ (66.7) $ (42
Slide 27: 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 28: Q3 2025 YTD Segment Adjusted EBITDA Reconciliation
Q3 2025 YTD Segment Adjusted EBITDA From Continuing Operations Reconciliation USD in Millions Nine Months Ended September 27, 2025 Corporate and North Unallocated Total (amounts in millions) America Europe Costs Consolidated Loss from continuing operations, net of tax $ (290.0) $ (7.4) $ (85.7) $ (3
Slide 29: Q3 2024 YTD Segment Adjusted EBITDA Reconciliation
Q3 2024 YTD Segment Adjusted EBITDA From Continuing Operations Reconciliation USD in Millions Nine Months Ended September 28, 2024 Corporate and North Unallocated Total (amounts in millions) America Europe Costs Consolidated Income (loss) from continuing operations, net of tax $ 82.8 $ (71.7) $ (130
Slide 30: Q3 2025 TTM Adjusted EBITDA Reconciliation
Q3 2025 TTM Adjusted EBITDA From Continuing Operations Reconciliation USD in Millions Trailing Twelve Months Ended (amounts in millions) September 27, 2025 December 31, 2024 Loss from continuing operations, net of tax $ (451.5) $ (187.6) Income tax expense 149.2 16.8 Depreciation and amortization 11