Jeld-Wen Holdings posted Q1 revenues of $776.0 million, down 19 percent driven by the court-ordered divestiture of the company’s Towanda, Penn., facility. The company further posted a net loss of $179.8 million compared to $27.7 million in the same quarter last year.
“While market conditions remained very challenging during the first quarter, they developed mostly as expected,” said CEO William J. Christensen. “We continued to execute our transformation, removing cost and improving focus across the business. However, the pace of market deterioration continues to outweigh the benefits of our cost actions. We are beginning to see signs of improvement in our quality and service levels, and we expect further gains in the second quarter.”
