CNR - CNR STOCK NEWS

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.

Cornerstone Building Brands (NYSE: CNR) plans to amend and refinance its senior credit facilities, extending its $611 million ABL credit facility and $115 million revolving credit facility to April 12, 2026. Additionally, it aims to upsize its $2,498 million Term Loan B to $2,600 million, due April 12, 2028. The Company intends to use proceeds to pay down existing 8.00% senior unsecured notes due in 2026, with a conditional redemption notice already issued. This strategic move is aimed at reducing net debt leverage and strengthening its capital structure.

Cornerstone Building Brands (NYSE: CNR), North America's leading exterior building solutions manufacturer, will participate in the Sidoti & Company Virtual Investor Conference on March 25, 2021, at 9:15 a.m. EDT. The event will feature a fireside chat with Chairman and CEO James S. Metcalf and CFO Jeff Lee. Interested participants can join via this link. Presentation materials and a video replay will also be available on the Company's investor relations page.

Cornerstone Building Brands (CNR) reported Q4 2020 net sales of $1,191.4 million and net income of $1.9 million, matching the previous year's income but with a slight sales decline from $1,244.4 million. Adjusted EBITDA for the quarter was $158.1 million, representing a margin of 13.3%, marking seven consecutive quarters of margin expansion despite lower non-residential demand. Full-year net sales dropped 5.6% to $4,617.4 million, largely due to the pandemic's impact. However, cash flow improved, with free cash flow at $226.6 million, facilitating debt repayment and strengthening financial flexibility.

Cornerstone Building Brands (NYSE: CNR) will release its 2020 fourth-quarter and full-year financial results on March 3, 2021, after market close. A conference call will follow on March 4 at 9:00 a.m. EDT to discuss performance with investors. Financial results and supplemental information will be available on their website. The replay of the call will be available until March 18, 2021. Cornerstone is North America's largest manufacturer of exterior building products and maintains a robust portfolio across various markets.