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Core Natural Resources (CNR) provides essential updates for stakeholders tracking this leading coal producer's market activities. This centralized hub aggregates all press releases and news related to CNR's mining operations, strategic partnerships, and industry developments.
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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.
Cornerstone Building Brands (CNR) has extended its Connecting Communities initiative to support affordable housing amid the COVID-19 pandemic. The company is donating $275K in building products through its Home for Good project and will contribute $25 for each social media share of its #ConnectingCommunities video, up to a maximum donation of $50,000 to Habitat for Humanity. Since 2016, the initiative has helped build over 500 affordable homes, with an aim to provide materials for an additional 100 homes by June 2021. This effort underscores the company's commitment to community support and affordable housing.
Cornerstone Building Brands reported Q3 2020 net sales of $1,227.3 million and net income of $30.0 million (24 cents/share), down from $1,285.0 million and $24.8 million (20 cents/share) in Q3 2019. Adjusted EBITDA reached a record $193.3 million, or 15.8% of net sales. Despite impacts from the COVID-19 pandemic, margins improved across all segments due to effective cost management. Cash flow from operations rose to $169.9 million, and net debt leverage ratio decreased to 4.9x. Guidance for Q4 anticipates net sales between $1,135 million and $1,200 million.
Cornerstone Building Brands, Inc. (NYSE: CNR) will release its 2020 third-quarter financial results on November 10, after market close. A conference call is set for November 11 at 9:00 a.m. EST to discuss the results with investors and analysts. The financial details will be available online. Replay of the call will be accessible until November 25. Cornerstone is recognized as the largest manufacturer of exterior building products in North America, serving various markets with a 19,500-employee workforce.
In celebration of National Manufacturing Day 2020, Cornerstone Building Brands (NYSE: CNR) will conduct virtual events throughout October to showcase U.S. manufacturing and career opportunities. Events include facility tours and presentations from company leaders, emphasizing COVID-19 safety measures. Key dates are October 20, 22, 23, and 29, with facilities in South Carolina, Tennessee, Ohio, and Texas participating. The initiative highlights the necessity of filling 4.6 million manufacturing jobs by 2028 and correcting misconceptions about modern manufacturing.
