By Ben Glickman
JELD-WEN Holding boosted its profit in the third quarter despite weaker demand as cost reductions took effect.
The Charlotte, N.C.-based window-and-door maker posted a third-quarter profit of $43.8 million, or 51 cents a share, compared with a loss of $33.2 million, or 39 cents a share, a year earlier. Analysts polled by FactSet expected per-share earnings of 30 cents.
Removing discontinued operations, the company posted a profit of 20 cents a share.
Stripping out certain one-time items and discontinued operations, adjusted per-share earnings came to 53 cents, ahead of the 34 cents forecast by analysts, according to FactSet.
Revenue fell 5.5% to $1.08 billion, beating the $1.014 billion expected by analysts polled by FactSet.
Chief Executive William Christensen said that the company had improved profitability despite “challenging macroeconomic conditions” and uncertain demand.
The company expects the current environment to persist into the fourth quarter, though cost-reduction programs will still boost profitability.
The company completed the sale of its Australasia segment on July 2.
Write to Ben Glickman at ben.glickman@wsj.com
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