JELD-WEN Holding, Inc. (NYSE:JELD) Q2 2022 Earnings Conference Call August 1, 2022 8:00 AM ET

Company Participants

Christopher Teachout - Director of Investor Relations

Gary Michel - Chief Executive Officer

David Guernsey - Executive Vice President

Conference Call Participants

John Lovallo - UBS

Matthew Bouley - Barclays

Michael Rehaut - JPMorgan

Stanley Elliott - Stifel

Deepa Raghavan - Wells Fargo Securities

Susan Maklari - Goldman Sachs

Mike Dahl - RBC Capital Markets

Josh Chan - Baird

Phil Ng - Jefferies

Truman Patterson - Wolfe Research

Steven Ramsey - Thompson Research Group

Operator

Good morning. My name is Dennis and I will be your conference operator today. At this time, I would like to welcome everyone to the JELD-WEN Holding, Inc. Second Quarter 2022 Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to Chris Teachout, Director of Investor Relations. Please go ahead.

Christopher Teachout

Thank you. Good morning, everyone. We issued our earnings press release this morning and posted a slide presentation to the Investor Relations portion of our website which we will be referencing during this call. I’m joined today by Gary Michel, Chair and CEO; and David Guernsey, Executive Vice President.

Before we begin, I would like to remind everyone that during this call, we will make certain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a variety of risks and uncertainties, including those set forth in our earnings release and provided in our Forms 10-K and 10-Q filed with the SEC. JELD-WEN does not undertake any duty to update forward-looking statements including the guidance we are providing with respect to certain expectations for future results. Additionally, during today’s call, we will discuss non-GAAP measures which we believe can be useful in evaluating our performance. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of these non-GAAP measures to their most directly comparable financial measure calculated under GAAP can be found in our earnings release and in the appendix to this presentation.

I would now like to turn the call over to Gary.

Gary Michel

Thanks, Chris. Good morning, everyone and thank you for joining us. At JELD-WEN, we're in the midst of a multiyear journey, transforming the business to deliver consistent, profitable growth, expand margins and further enhance shareholder value through effective capital deployment. This year has been particularly challenging to deliver on our financial targets given the macroeconomic environment. To succeed, companies must adapt how they do business to overcome ever-changing headwinds. Our execution did not meet those requirements, nor was it indicative of the performance-driven culture and expectations we have at JELD-WEN.