JELD-WEN Reveals Changes In North America Window Operations; Plans Closing Its Vista, California, And Hawkins, Wisconsin, Manufacturing Facilities
Portfolio Pulse from Benzinga Newsdesk
JELD-WEN announced plans to close its manufacturing facilities in Vista, California, and Hawkins, Wisconsin, as part of changes to its North America window operations. The company anticipates one-time costs of about $45 million from these closures but expects to see annual pre-tax income improvements of at least $11 million. Updates on the closures will be provided in the quarterly earnings call on May 7, 2024.
April 11, 2024 | 9:19 pm
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JELD-WEN plans to close two manufacturing facilities, expecting one-time costs of $45 million and annual pre-tax income improvements of $11 million.
The closure of the facilities is a significant operational change for JELD-WEN, indicating a strategic shift in its North America window operations. The one-time costs of $45 million could negatively impact short-term financials, but the expected annual pre-tax income improvements of at least $11 million suggest a positive outlook for the company's profitability in the long term. The neutral score reflects the balance between short-term costs and long-term benefits.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100