JELD-WEN Holding’s net revenues for the three months ended December 31, 2018 increased $115.3 million, or 11.8%, to $1.091 billion, compared to $975.8 million for the same period last year. The increase in net revenues was driven by a 14% contribution from recent acquisitions, partly offset by a 2% adverse impact from foreign exchange, as the company said in the press release received by Lesprom Network.
Net income was $39.7 million, compared to a net loss of $93.7 million in the same quarter last year, an increase of $133.4 million. Adjusted net income for the 4Q 2018 was $42.5 million, compared to $28.5 million in the same quarter last year, an increase of $14 million.
Adjusted EBITDA increased $6.5 million, or 6.3%, to $109.6 million, compared to $103.1 million in the same quarter last year. Adjusted EBITDA margins decreased 60 basis points in the quarter to 10%, from 10.6% in the prior year.
Net revenues for the FY 2018 increased $583 million, or 15.5%, to $4.347 billion, compared to $3.764 billion for the same period last year. The increase was driven by a 15% contribution from recent acquisitions and a 1% contribution from core growth.
FY 2018 net income increased $133.5 million, to $144.3 million, compared to $10.8 million in the same period last year.
Adjusted EBITDA increased $27.7 million, or 6.3%, to $465.3 million, compared to $437.6 million in the same period last year. Adjusted EBITDA margins decreased 90 basis points to 10.7%, from 11.6% in the same period a year ago.
JELD-WEN, founded in 1960, is one of the world’s largest door and window manufacturers, operating manufacturing facilities in 20 countries located primarily in North America, Europe and Australia.
