CHARLOTTE, N.C. - JELD-WEN (NYSE:JELD) Holding, Inc. (NYSE: JELD), a global manufacturer of building products, announced the appointment of Samantha L. Stoddard as Executive Vice President and Chief Financial Officer effective July 1, 2024. Stoddard, who currently oversees the company's North American finance operations and global financial planning, will take over from Julie C. Albrecht, who is set to step down on June 30.
CEO William J. Christensen praised Stoddard's leadership and contribution to the company's transformation efforts, emphasizing her deep understanding of JELD-WEN's business and her ability to drive results. Stoddard joined JELD-WEN in 2020, bringing experience from previous roles at Honeywell (NASDAQ:HON) and other finance positions in various companies. She holds a master's degree in accounting and a Bachelor of Arts in economics and political science.
Christensen also extended gratitude to Albrecht for her service, noting that the internal succession reflects the company's thoughtful planning and Albrecht's impactful leadership. Albrecht will remain in an advisory capacity post-transition to ensure continuity.
JELD-WEN operates in 15 countries across North America and Europe and employs about 18,000 associates. The company's portfolio includes a range of interior and exterior doors, windows, and related building products. The information regarding the executive change is based on a press release statement from JELD-WEN.
In other recent news, JELD-WEN Holding, Inc. has been in the spotlight following the release of its first-quarter 2024 results. The building products manufacturer reported figures that fell short of both analysts' and consensus estimates, mainly due to decreased volumes and an unfavorable product mix. In response to these results, the company revised its full-year guidance downwards, citing weaker macroeconomic trends and persistent market challenges in North America and Europe.
Analysts from B.Riley, Jefferies, and Loop Capital adjusted their outlook on JELD-WEN. B.Riley and Loop Capital reduced their price targets to $17, while Jefferies set its target at $16, all maintaining a neutral or hold rating on the stock. These revisions reflect the headwinds faced by JELD-WEN, including softer demand in key market segments and the ongoing efforts to drive down costs and enhance operational efficiencies.
Despite the challenges, JELD-WEN's management remains committed to mitigating the impact through cost reduction and efficiency improvements. The company highlighted the completion of over 300 cost reduction projects, with around 700 still active. These initiatives are anticipated to lead to margin expansion in the latter half of 2024, indicating the company's proactive approach towards navigating these recent developments.
InvestingPro Insights
As JELD-WEN Holding, Inc. (NYSE: JELD) welcomes Samantha L. Stoddard to the role of Executive Vice President and Chief Financial Officer, the company's financial landscape presents a mix of challenges and opportunities.
According to the latest data from InvestingPro, JELD-WEN has a market capitalization of $1.18 billion and is navigating through a period of volatility. The adjusted P/E ratio as of the last twelve months stands at -43.16, reflecting the company's recent struggles to maintain profitability. However, with net income expected to grow this year, there is a sense of cautious optimism.
An InvestingPro Tip notes that the stock's RSI suggests it is in oversold territory, which could indicate a potential rebound or at least some stabilization in the near term. Moreover, while the company's valuation implies a strong free cash flow yield, it's important to note that JELD-WEN has not been profitable over the last twelve months. Despite this, analysts predict the company will return to profitability this year, which could be a significant turning point for the firm.
For those interested in deeper analysis, there are additional InvestingPro Tips available for JELD-WEN at https://www.investing.com/pro/JELD. Subscribers can access these insights to better understand the company's financial health and make more informed investment decisions. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further valuable information on JELD-WEN and other companies.
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