- Cornerstone Building Brands Inc (NYSE:CNR) reported fourth-quarter sales growth of 23.5% year-over-year to $1.47 billion, beating the consensus of $1.45 billion.
- Sales by Segment: Windows $618.8 million (+21% Y/Y), Siding $327.6 million (+11.5% Y/Y) and Commercial $525.2 million (+36% Y/Y).
- The gross margin contracted 80 bps to 21.6%. Operating income increased 4.4% Y/Y to $74.5 million, and margin declined 93 bps to 5.1%. Adjusted operating margin declined by 30 bps to 6.5%.
- Adjusted EPS improved to $0.73 from $0.33 in 4Q20, beating the consensus of $0.57.
- Adjusted EBITDA was $184.19 million (+16.4% Y/Y), and margin contracted by 76 bps to 12.5%
- Cornerstone Building's cash used in operating activities for FY21 was $215.9 million in FY21, compared to cash generated $308.42 million a year ago.
- The company reported net debt leverage of 3.7x, 1.2x lower than the prior year.
- The company ended the year with ~$394 million of unrestricted cash on hand and $1.08 billion of liquidity.
- Related: Cornerstone Building Brands Stock Soars After CD&R Bids For The Remaining Stake
- In light of the proposal and the Special Committee's ongoing review, the company suspended its guidance and will not be hosting a conference call.
- Price Action: CNR shares are trading lower by 2.13% at $21.61 on the last check Tuesday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Cornerstone Building Brands Clocks ~24% Sales Growth In Q4, Tops Street View
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks