JELD-WEN Holding sees FY17 revenue up 1.5%-3.5% from last year
The increase in net revenues is expected to be driven by positive core growth and a small benefit from recent acquisitions, partially offset by unfavorable foreign exchange impact. Reaffirms FY17 adjusted EBITDA view $440M-$460M, compared to adjusted EBITDA of $393.7M for 2016. Capital expenditures are now expected to be in the range $80M-$90M, reduced from the previous range of $90M-$100M. The company added "For the second half of 2017, the fundamental demand drivers across our global end markets look constructive and we have confidence in our ability to achieve margin improvement through our JEM initiatives. For these reasons, we are re-affirming our 2017 outlook for revenue and adjusted EBITDA. To enhance our performance, we continue investing in profitable growth initiatives and are making progress on our healthy pipeline of acquisition opportunities."