Jeld-Wen Holding's net income for the 2Q 2021 increased $37.6 million to $60.7 million, compared to net income of $23.1 million in the same period last year. Adjusted net income for the 2Q 2021 increased $12.6 million, or 26.4%, to $60.3 million, compared to $47.7 million in the same quarter last year.
2Q 2021 adjusted EBITDA increased $22.5 million, or 17.9%, to $148.2 million, compared to the same quarter last year. Adjusted EBITDA margin of 11.9% decreased by 80 basis points compared to the prior year. Adjusted EBITDA margin declined as gross margin improvement was offset by higher SG&A expense related to the non-recurrence of prior year COVID-19 cost savings actions.
"Jeld-Wen's multi-faceted growth platform and rigorous deployment of our business operating system, the Jeld-Wen Excellence Model, are driving consistent growth and profitability improvement across the enterprise," said Gary S. Michel, President and CEO. "Our associates delivered broad based core revenue growth through profitable share gain and disciplined pricing, driving gross margin expansion in a challenging inflationary environment. Supportive residential new construction and repair and remodel activity, and continued execution of our playbook will drive sustained improvements in revenue, earnings and free cash flow."
Jeld-Wen is a leading global manufacturer of high-performance interior and exterior building products, offering one of the broadest selections of windows, interior and exterior doors, and wall systems.
