** Shares of building products maker Jeld-Wen Holding JELD.N down 21.8% premarket to $4.40 after lukewarm guidance

** If losses hold, JELD shares on course to open below intraday record low of $4.91 hit on Apr 9

** Charlotte, North Carolina firm late Mon said Q1 rev declined 19% y/y to $776 mln, above analysts' expectations of $768 mln, while adj loss of 17 cents was 2 cents below consensus, per LSEG data

** "We continued to execute our transformation, removing cost and improving focus across the business. However, the pace of market deterioration continues to outweigh the benefits of our cost actions," CEO William Christensen said in the statement

** Co beginning to see signs of improvement and further gains are expected in Q2, he said, but warned visibility is limited due to rapidly changing macro environment

** In the presentation, co said it expects Q2 adj EBITDA to be slightly better seasonally compared to Q1

** Jefferies in flash note said based on Q2 guide "it's hard for us to imagine" 2025 EBITDA would be noticeably above $130 mln (with Street estimating $225 mln), adding liquidity could become an issue with leverage rising with an earnings shortfall

** Of 9 brokerages covering JELD, recommendation breakdown is 7 "hold", 1 "sell" and 1 "strong sell" and their median PT is $6 - LSEG

** Through Mon, stock has shed 31% YTD. Stock closed at $19.04 a year ago

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((llance.tupper@tr.com 1-646-279-6380 ))