Jeld-Wen Holding Inc. shares jumped +13.25% mid-day Tuesday, on news of the company beating fourth-quarter earnings estimates.
The wood window and door manufacturing company reported adjusted earnings of 41 cents a share in the quarter, higher than analysts’ expectation of 36 cents a share. Net income came in at $39.7 million, compared to a loss of $93.7 million in the year-ago period.
The company’s quarterly revenue increased to $1.09 billion, from the year-ago quarter’s $975.8 million. The figure, however, was below analysts’ estimate of $1.1 billion.
Despite some headwind from unfavorable foreign exchange rates, acquisitions helped to boost the company's revenue and earnings. For 2019, Jeld-Wen is expecting net revenue growth of 1% to 5%. It projects adjusted EBITDA to be in the range of $470 million to $505 million for the year.