Building products company Jeld-Wen Holding (NYSE: JELD) had a difficult time in 2022, squeezed by higher supply costs and softening demand. But the company's latest results suggest the worst might be over, and shares jumped as much as 19.5% on Tuesday as a result.
Jeld-Wen makes windows, doors, and wall systems for interior and exterior applications. As such, the company is closely tied to the housing and construction sectors and took a hit last year when higher interest rates caused construction to slow.
The housing market hasn't yet rebounded, but Jeld-Wen appears to be managing through the softness better than expected. On Tuesday, the company reported fourth-quarter adjusted earnings of $0.47 per share on revenue of $1.33 billion, topping analyst expectations for a $0.25 per share profit on sales of $1.2 billion.
Source Fool.com