JELD-WEN stock jumps as pricing actions promote strong profits

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JELD-WEN Holding (NYSE:JELD) shares rose sharply in premarket trading on Monday after posting a stronger than expected earnings result.

The North Carolina-based window and door manufacturer notched $0.71 in non-GAAP EPS, beating estimates by $0.27. Meanwhile, a 13.2% rise in revenue from the prior year to $1.29B also exceeded expectations. The company said core revenue growth included a 15% rise from pricing moves and a 3% impact from positive volume/mix.

"Although we have more work to deliver our full potential, we made meaningful progress this quarter on initiatives to improve execution and performance," interim CEO Kevin Lilly said. "We announced a strategic review of our Australasia segment, took additional cost actions and strengthened customer relationships, while laying the groundwork for further strategic action."

Moving forward for the full-year, the company reiterated its expectation of core revenue growth at approximately 10%, with net revenues set to increase 4% to 6%. However, adjusted EBITDA estimates for the full-year were trimmed to a range of $400M to $420M from the previous outlook of $430M to $450M. Capital expenditures for the full year were also narrowed to an expectation of $85M to $95M, from a prior estimate of $90M to $110M.

Shares of JELD-WEN (JELD) rose 3.46% in early pre-market trading.

Dig into the details of the earnings results.