Shares of JELD-WEN Holding Inc. (JELD) plunged more than 7% in after-hours trading on Friday, following the release of the company's disappointing third-quarter financial results.
The window and door manufacturer reported a net loss of $74.4 million for the quarter, compared to a profit in the same period a year ago. The company's adjusted EBITDA margin also declined to 8.7%, reflecting ongoing cost pressures and supply chain challenges.
Perhaps most concerning for investors, JELD-WEN's revenue of $934.7 million fell short of analyst estimates of $990.8 million, suggesting weaker-than-expected demand for its products. The revenue miss, coupled with the significant net loss, raised concerns about the company's ability to navigate the current economic environment.