Core Natural - CNR STOCK NEWS

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.

Cornerstone Building Brands (NYSE: CNR) has announced the acquisition of Prime Window Systems, based in Denver, Colorado. This strategic move aims to drive profitable growth and operational excellence, enhancing Cornerstone's position in the residential market. Prime Window, which specializes in energy-efficient vinyl windows and doors, generated approximately $60 million in sales in 2020. The acquisition is expected to yield purchasing and manufacturing synergies, margin expansion, and new revenue opportunities, particularly in West markets.

Cornerstone Building Brands (NYSE: CNR) has announced a $525,000 commitment to Habitat for Humanity through its Home for Good project to address the affordable housing crisis exacerbated by the pandemic. Since 2016, the initiative has contributed over $2 million in products to aid over 550 homes across 90 communities. The partnership, featuring country music star Luke Bryan, includes financial support and fortified exterior products aimed at building resilient homes in disaster-prone areas. Cornerstone aims to help families recover from COVID-19 impacts and alleviate housing costs.

Cornerstone Building Brands (NYSE: CNR) will release its Q1 2021 financial results on May 11, after market close. A conference call to discuss these results is scheduled for May 12 at 9:00 a.m. EDT. This call will provide insights for investors and analysts alike, with the financial results and additional information available on their investor relations website.

As the largest exterior building products manufacturer in North America, the company continues to serve multiple markets, supported by its substantial workforce and diverse product portfolio.

Cornerstone Building Brands (CNR) has fully redeemed its $645 million 8.00% Senior Notes due 2026, utilizing available cash and proceeds from an upsized senior term loan. The company also extended its senior term loan facility from $2,498 million to $2,600 million, due April 12, 2028, while extending its revolving credit facilities to April 12, 2026. This refinancing will reduce annual interest costs by over $50 million. The redemption price for the Notes was 104%, plus accrued interest.

Cornerstone Building Brands (NYSE: CNR) has appointed Matthew Ackley as President of Engineered Building Systems. With 18 years of experience in the building materials sector, Ackley will spearhead the Commercial division's strategic initiatives and customer relations. Previously, he served as Vice President of Sales for the Commercial Ceilings division at USG Corporation, where he drove significant revenue and profit growth. His formal education includes a degree in Economics and Spanish and an MBA. Ackley's appointment is aimed at enhancing customer focus and operational agility.

Cornerstone Building Brands (NYSE: CNR) has appointed Alena Brenner as Executive Vice President, General Counsel, and Corporate Secretary, effective April 5, 2021. Ms. Brenner brings over 20 years of experience from various Fortune 500 companies and law firms, previously serving as Vice President and Deputy General Counsel for Ryder System. The appointment aims to enhance the company’s legal, compliance, and risk management functions, while supporting its long-term growth strategy through Brenner’s expertise in mergers and acquisitions. James S. Metcalf expressed enthusiasm for her joining the leadership team.