Charlotte, NC – Jeld-Wen Holding, Inc. (NYSE:JELD) reported first quarter net revenue of $1.09 billion, and net income of $25.5 million in its global window and door business. Net revenue increased 11.6% during the quarter ending March 27, 2021.
“JELD-WEN delivered a strong start to 2021,” says Gary S. Michel, CEO, attributing the results to “the rigorous deployment of our business operating system, the Jeld-Wen Excellence Model.”
The global company says the increase in net revenue was primarily driven by 6% core revenue growth and a 5% positive impact from foreign exchange. Based in Charlotte, NC, Jeld-Wen recorded North America growth of 9%, or $639.6 million. European net revenue increased or 13.9%, to $320.5 million. Australasia net revenue increased 19.2%, to $132.3 million.
Jeld-Wen continues to appeal its long-running suit with San Antonio, TX-based Steves & Sons Doors, but its prospects of winning dimmed as its latest appeal was rejected.
As COVID-19 pandemic restrictions slowly wind down, Jeld-Wen says a new study by Zonda, a housing data firm, finds nearly half of respondents with children under the age of 19 at home are still having issues with being disrupted by noise during the work day. Distractions from others working, studying, or simply going about their day are still happening after a year of adapting to the “new normal” of working and studying from home.
While noise canceling headphones and other technology helps, home-bound workers and students say they are still having trouble with noisy distractions, with 55% working longer hours to finish their tasks due to noise disruptions, according to Zonda.
“Homeowners have been spending a lot more time at home during the past year and are making a lot of home improvements,” says Kathryn Caspar, VP of Interior Door products at JELD-WEN, Inc. “One improvement they may not have thought of is replacing their interior doors to manage noise. Our ProCore solid-core doors reduce noise by up to 50% and are more affordable than one might think.”