JELDHIGH SIGNALFINANCIAL10-K

JELD-WEN suffered severe financial deterioration with operating losses more than tripling to -$416M and stockholders' equity collapsing by 85% to just $92.2M.

The company's fundamental financial health has dramatically weakened, with massive operating losses indicating serious operational problems beyond typical cyclical downturns. The near-elimination of stockholders' equity raises concerns about financial stability and potential covenant violations or restructuring needs.

Comparing 2026-02-23 vs 2025-02-20View on EDGAR →
FINANCIAL ANALYSIS

JELD-WEN experienced across-the-board financial deterioration with revenue declining 15% to $3.2B while operating losses exploded from -$126M to -$416M as gross profit margins compressed severely. The company burned through cash, turning positive $106M operating cash flow negative to -$5M, while stockholders' equity collapsed 85% to just $92M. This combination of deteriorating profitability, negative cash generation, and evaporating equity signals a company in severe financial distress that may face liquidity challenges or require significant restructuring.

FINANCIAL STATEMENT CHANGES
Operating Income
P&L
-229%
-$126.4M→-$416.0M

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

Net Income
P&L
-228.6%
-$189.0M→-$621.2M

Net income declined 228.6% — review whether driven by operations, interest costs, or non-recurring items.

Operating Cash Flow
Cash Flow
-104.6%
$106.2M→-$4.9M

Operating cash flow fell 104.6% — earnings quality concerns; investigate working capital changes and non-cash items.

Stockholders Equity
Balance Sheet
-85.1%
$620.1M→$92.2M

Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.

Capital Expenditure
Cash Flow
-26%
$161.9M→$119.8M

Capex reduced 26% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Gross Profit
P&L
-25.4%
$689.0M→$514.2M

Gross margin compression — rising input costs, pricing pressure, or unfavorable product mix shift.

Total Assets
Balance Sheet
-19.7%
$2.6B→$2.1B

Total assets contracted 19.7% — asset sales, write-downs, or balance sheet optimization underway.

SG&A Expense
P&L
-15.5%
$652.5M→$551.1M

SG&A reduced 15.5% — improved cost efficiency or headcount reduction improving operating margins.

Current Assets
Balance Sheet
-15.3%
$1.2B→$1.0B

Current assets declined 15.3% — monitor working capital adequacy and short-term liquidity.

Revenue
P&L
-14.9%
$3.8B→$3.2B

Revenue softened 14.9% — monitor whether this is cyclical or structural.

LANGUAGE CHANGES
NEW — 2026-02-23
PRIOR — 2025-02-20
ADDED
The registrant had 86,105,591 shares of common stock, par value $0.01 per share, issued and outstanding as of February 18, 2026.
Management's Discussion and Analysis of Financial Condition and Results of Operations 35 Item 7A.
European Union EBITDA Earnings Before Interest, Taxes, Depreciation, and Amortization EH S Environmental Health and Safety EPA The U.S.
ISO International Organization for Standardization IT Information Technology JELD-WEN JELD-WEN Holding, Inc.
, together with its consolidated subsidiaries where the context requires JW Australia The Company s former Australasia business JWI JELD-WEN, Inc., a Delaware corporation LaCantina JWI d/b/a LaCantina Doors, Inc.
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REMOVED
The registrant had 84,849,974 shares of common stock, par value $0.01 per share, issued and outstanding as of February 14, 2025.
Management's Discussion and Analysis of Financial Condition and Results of Operations 36 Item 7A.
AI Artificial intelligence AOCL Accumulated Other Comprehensive Loss ASC Accounting Standards Codification ASU Accounting Standards Update AUD Australian Dollar Base rate LIBOR portion of the interest rate.
In June 2023, we amended the ABL Facility to replace LIBOR with a Term SOFR based rate.
CAP Cleanup Action Plan CARES Act Coronavirus Aid, Relief, and Economic Security Act enacted on March 27, 2020 CEO Chief Executive Officer or principal executive officer CERCLA Comprehensive Environmental Response, Compensation, and Liability Act CFO Chief Financial Officer or principal financial officer CIO Chief Digital and Information Officer CISO Chief Information Security Officer Charter Amended and Restated Certificate of Incorporation of JELD-WEN Holding, Inc.
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