Jeld-Wen jumps on upbeat annual revenue outlook, Q1 earnings

Jeld-Wen Holding

09/05/2023 19:42

** Shares of building products maker Jeld-Wen Holdings 
 JELD.N  soar 16.1% to $14.62
    ** Stock set to post best day since April 6, 2020, if gains
hold
    ** Co lifts FY23 revenue outlook to $4.0 bln-$4.4 bln from
$3.9 bln-$4.3 bln forecast earlier, excluding Australasia
segment
    ** Reports Q1 adj. earnings of 35 cents per share, beating
analysts' avg. estimate of 6 cents per share, driven by
favourable market conditions and cost-cut measures
    ** Posts higher-than-expected Q1 revenue of $1.22 bln vs
estimates of $1.10 bln    
    ** Including session gains, stock up 53.47% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))