The Charlotte-based company reported net income of $39.7 million, or adjusted earnings of 41 cents a share, up from a loss of $93.7 million a year ago, or 26 cents a share, and beat analysts' forecasts of 36 cents a share. Revenue totaled $1.09 billion, up from $975.8 million a year ago. Wall Street was looking for $1.1 billion in revenue.
The company said the increase in net income was primarily due to contributions from recent acquisitions and the non-recurrence of tax charges taken during the fourth quarter of 2017. Fourth-quarter revenue growth was driven by a 14% contribution from acquisitions, partially offset by a 2% foreign exchange headwind, while core revenue was unchanged.
Full-year net revenue totaled $4.35 billion, while net income came to $144.3 million.
"While core operating results in the fourth quarter were challenged in certain businesses due to weak volumes, unfavorable mix, and input cost inflation, we delivered core margin expansion in our North America and Australasia segments," Gary Michel, president and CEO, said in a statement.
For 2019, Jeld-Wen said it looking for net revenue growth of 1% to 5% and adjusted EBITDA of $470 million to $505 million. The company said that its confidence in the 2019 outlook is based on pipeline of productivity, cost-saving initiatives and pricing actions.
In 2019, Jeld-Wen said it expects mixed demand across its segments. For North America, the company expects market growth based on a stable residential repair and remodel backdrop and modest new construction growth. In Europe, the company said it moderating economic growth is likely to result in flat end market demand. In Australasia, Jeld-Wen said it expects tightening credit policies to result in moderate contraction in the company's primary end market of residential new construction.