CNR - CNR STOCK NEWS

Cornerstone Building Brands (NYSE: CNR), North America's largest manufacturer of exterior building products, is set to attend the Barclays Building & Building Products Virtual Conference. CFO Jeff Lee will engage in a fireside chat on August 10, 2021, at 12:40 p.m. EDT. The company's vast portfolio includes products like vinyl windows, siding, and metal roofing. With over 20,000 employees across North America, Cornerstone emphasizes corporate stewardship and ESG responsibility, ensuring a positive impact in its communities. For further details, visit www.cornerstonebuildingbrands.com.

Cornerstone Building Brands (NYSE: CNR) has announced an agreement to acquire Cascade Windows for $245 million. Cascade, a top manufacturer of energy-efficient vinyl windows and doors, serves the residential construction and remodeling markets. The acquisition aims to enhance Cornerstone's market presence on the West Coast and improve its tailored solutions offerings. Cascade reported approximately $160 million in sales over the past twelve months. The deal is expected to close in Q3 2021, pending regulatory approval, and will be funded using cash on hand.

Cornerstone Building Brands (CNR) has signed an agreement to sell its Roll-up Sheet Door business, under the DBCI brand, to Janus International Group (JBI) for $168 million. The transaction, expected to close in Q3 2021, involves three manufacturing facilities and a sales office, transferring around 240 employees to Janus. The DBCI business generated approximately $85 million in sales over the past year, with about $65 million in net sales and $14 million in Adjusted EBITDA that would be excluded from CNR's results if the deal closed earlier. Proceeds will enhance financial flexibility and support growth initiatives.

Janus International Group, Inc. (NYSE: JBI) has signed a definitive agreement to acquire DBCI, a key manufacturer of steel roll-up doors, enhancing its presence in the self-storage industry. The acquisition aims to broaden Janus's customer base by leveraging DBCI's network of general contractors and distributors. With DBCI's trailing 12-month revenue at approximately $85 million, the combined entity expects significant cost savings, operational integration, and an expanded geographic footprint. The transaction is set to close in Q3, pending customary conditions.

Cornerstone Building Brands (CNR) announces Heather Hollis, Director of Marketing, will receive the Women in Manufacturing 2021 STEP Ahead Award for her leadership and contributions to the manufacturing industry. Hollis is recognized for her efforts in market research, customer segmentation, and talent development. The award ceremony will take place on November 4, 2021, in Washington, D.C., honoring 130 women in manufacturing. Cornerstone Building Brands is dedicated to fostering female talent through initiatives like a Diversity, Equity and Inclusion Council.

Cornerstone Building Brands (CNR) is set to announce its Q2 2021 financial results on August 3, after market close. A conference call for discussion will follow on August 4 at 9:00 a.m. EDT. Investors can access financial results online at their investor relations site. The company emphasizes its leading position in manufacturing exterior building products across North America, with significant contributions to residential and commercial sectors. With over 20,000 employees, Cornerstone continues to focus on community and corporate stewardship.

Cornerstone Building Brands (CNR) announced a $500,000 product donation and a $100,000 financial contribution to aid disaster recovery in Newnan, GA, following a tornado in March 2021. The donations were made at a benefit concert featuring Alan Jackson on June 26. The company, with 1,800 employees in the area, aims to support affordable housing and disaster response through its Home for Good project, contributing over $2.5 million since 2016. These efforts reflect the company's commitment to community betterment and disaster resilience.

Cornerstone Building Brands (CNR) announced a definitive agreement to sell its Insulated Metal Panels (IMP) business to Nucor for $1 billion. This cash transaction includes the Metl-Span and CENTRIA brands and is anticipated to close in H2 2021, pending regulatory approval. The sale will enhance Cornerstone's financial position, decreasing net debt leverage by three-quarters of a turn, and proceeds will be used for debt repayment and growth investments. The IMP business, contributing $335 million in net sales, will undergo a transfer of approximately 830 employees to Nucor.

Cornerstone Building Brands, Inc. (CNR) reported first-quarter 2021 net sales of $1,267.0 million and a net loss of $1.7 million. This marks an increase from $1,113.8 million in net sales last year, with a net loss decrease from $542.1 million. The Adjusted EBITDA rose to $139.1 million, representing 11.0% of net sales. Key segments showed strong growth: Windows up 17.6%, Siding up 26.9%, while Commercial remained flat. The company maintained $666.7 million in cash and liquidity of $1,353 million.