February 28, 2018 / 11:19 AM / 3 months ago

BRIEF-Jeld-Wen Holding Sees FY 2018 Revenue Up 10 To 13 Percent

Feb 28 (Reuters) - Jeld-Wen Holding Inc:

* JELD-WEN HOLDING, INC. ANNOUNCES CEO LEADERSHIP TRANSITION, ANNOUNCES TWO ACQUISITIONS, AND UPDATES 2018 OUTLOOK FOR THE IMPACT OF CLOSED ACQUISITION

* SEES FY 2018 REVENUE UP 10 TO 13 PERCENT

* JELD-WEN HOLDING, INC. ANNOUNCES CEO LEADERSHIP TRANSITION, ANNOUNCES TWO ACQUISITIONS, AND UPDATES 2018 OUTLOOK FOR THE IMPACT OF CLOSED ACQUISITION

* ‍DEPARTURE OF PRESIDENT AND CEO, MARK BECK, EFFECTIVE FEBRUARY 27, 2018​

* SIGNED AGREEMENT TO ACQUIRE ALL OF OUTSTANDING SHARES OF ABS; TERMS OF ACQUISITION WERE NOT DISCLOSED

* EXPECTS FULL YEAR 2018 ADJUSTED EBITDA OF $505 MILLION TO $535 MILLION

* FOR Q1 OF 2018, COMPANY EXPECTS ADJUSTED EBITDA OF $80 MILLION TO $86 MILLION

* JELD-WEN - EXPECTS TO ADD APPROXIMATELY $275 MILLION IN INCREMENTAL ANNUALIZED REVENUE FROM ABS DEAL

* ‍HACHIGIAN, CHAIRMAN OF BOARD AND FORMER CEO OF CO, WILL ASSUME BECK’S DUTIES WHILE BOARD CONDUCTS A SEARCH FOR A NEW CEO​

* EXPECTS ABS DEAL TO BE IMMEDIATELY ACCRETIVE TO ADJUSTED EPS IN 2018

* JELD-WEN - ABS’S ADJUSTED EBITDA MARGINS INITIALLY WILL BE LOWER THAN JELD-WEN’S ADJUSTED EBITDA MARGINS, UNTIL EXPECTED SYNERGIES ARE ACHIEVED

* FY2018 REVENUE VIEW $4.12 BILLION — THOMSON REUTERS I/B/E/S

* ‍EXPECTS A&L​ ACQUISITION TO ADD APPROXIMATELY AU$130 MILLION IN ANNUALIZED REVENUE

* TERMS OF ‍A&L ACQUISITION WERE NOT DISCLOSED​

* ‍EXPECTS A&L ACQUISITION TO BE IMMEDIATELY ACCRETIVE TO EPS IN 2018​

* JELD-WEN - ‍COMPLETED ACQUISITION OF A&L WINDOWS PTY LTD​

* ‍NOW EXPECTS FULL YEAR 2018 ADJUSTED EBITDA OF $505 MILLION TO $535 MILLION​

* ‍OUTLOOK FOR FULL YEAR 2018 CAPITAL EXPENDITURES REMAINS UNCHANGED​

* ‍ADJUSTMENTS TO 2018 OUTLOOK RELATE SOLELY TO IMPACT OF A&L ACQUISITION​ Source text for Eikon: Further company coverage:

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