Why Jeld-Wen Stock Is Up Big This Week
Building products manufacturer Jeld-Wen Holdings' (NYSE: JELD) quarterly results were a lot better than analysts anticipated, suggesting the company is handling weakness in the housing market well. Investors were pleased with the results, sending shares of Jeld-Wen up 18% for the week, according to data provided by S&P Global Market Intelligence, as of Thursday afternoon.
Jeld-Wen makes windows, doors, and wall systems for interior and exterior applications. The company had a difficult time in 2022, squeezed by higher costs and softening demand as the housing and construction sectors adjusted to higher rates.
But things are looking up so far in 2023. On May 8, the company reported adjusted first-quarter earnings of $0.35 per share on sales of $1.22 billion. That beat expectations for earnings of $0.06 per share on sales of $1.1 billion.
Source Fool.com
