Shares of JELD-WEN Holding Inc. (JELD) plunged 5.91% in pre-market trading on Tuesday after the company reported disappointing fourth quarter earnings results that missed analyst expectations.
The Charlotte-based door and window manufacturer reported a net loss of $68.4 million or $0.81 per share for Q4, wider than analysts' estimates of a $0.07 per share loss. While revenue of $895.7 million topped forecasts, JELD-WEN's adjusted earnings per share loss of $0.10 fell short of the $0.07 loss expected by analysts.
For the full year 2024, JELD-WEN projected revenue in the range of $3.2 billion to $3.4 billion, below some analysts' expectations. The company has been impacted by higher costs and slowing demand in the housing market.
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