Why Jeld-Wen Shares Are Falling Today
Supply chain problems and higher raw materials costs caused building products manufacturer Jeld-Wen Holdings (NYSE: JELD) to miss first-quarter earnings expectations. Investors weren't pleased, sending shares down more than 10% on Monday morning.
Jeld-Wen is a maker of finished building products including windows, doors, and wall systems, and investors knew going into earnings season that the company was both a likely beneficiary of the housing push and also likely caught up in the supply difficulties that have plagued homebuilders. But the results were worse than expected. Jeld-Wen reported first-quarter earnings of $0.16 per share on revenue of $1.17 billion, short of the consensus estimate of $0.33 per share on revenue of $1.2 billion.
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Source Fool.com
