What happened
Shares of Jeld-Wen Holding (JELD -0.79%) jumped as much as 19.8% in trading Tuesday after the maker of windows and doors reported fourth-quarter earnings results. Shares closed up 15.8% for the day.
So what
Quarterly revenue rose 11.8% versus a year ago, to $1.09 billion. And net income improved from a $93.7 million loss a year ago to a $39.7 million profit, or $0.38 per share. On an adjusted basis, which pulls out one-time items, earnings per share were $0.41, compared with the $0.35 expected by analysts.
Image source: Getty Images.
What really caught investors' attention were expectations for 1% to 5% revenue growth in 2019 and adjusted EBITDA of $470 million to $505 million. The EBITDA figure is up from the $465.3 million in 2018.
Check out the latest Jeld-Wen earnings call transcript.
Now what
If there were any fears that the housing or renovation market was going to take a step back in 2019, this should ease some of those concerns. Jeld-Wen sees strong demand for its residential markets and even expects to grow margins during the year. Given the strong operational momentum and outlook for 2019, the 15.8 P/E on the stock seems like a value in today's market.
