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Cornerstone Building Brands (CNR)

Cornerstone Building Brands is the largest manufacturer of exterior building products for residential and low-rise non-residential buildings in North America. Headquartered in Cary, North Carolina, we serve residential and commercial customers across new construction and repair and remodel markets. As the #1 manufacturer of vinyl windows, vinyl siding, insulated metal panels, metal roofing and wall systems and metal accessories, Cornerstone Building Brands combines an expansive portfolio of strong brands and quality products with a broad multichannel distribution platform that includes approximately 20,000 employees at manufacturing, distribution and branch office locations throughout North America.

Company profile

Ticker
CNR
Exchange
CEO
James Metcalf
Employees
Incorporated
Location
Fiscal year end
Former names
NCI BUILDING SYSTEMS INC
SEC CIK
Subsidiaries
Alenco Building Products Management, L.L.C. • Alenco Extrusion GA, L.L.C. • Alenco Extrusion Management, L.L.C. • Alenco Holding Corporation • Alenco Interests, L.L.C. • Alenco Trans, Inc. • Alenco Window GA, L.L.C. • Aluminum Scrap Recycle, L.L.C. • American Screen Manufacturers, Inc. • Atrium Corporation ...
IRS number
760127701

CNR stock data

Calendar

9 Aug 22
16 Aug 22
31 Dec 22
Quarter (USD) Jul 22 Apr 22 Dec 21 Oct 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Oct 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
25 Jul 22 Affeldt Kathleen J Common Stock, $0.01 par value Sale back to company Dispose D No No 24.65 68,234 1.68M 0
25 Jul 22 Ball George L. Common Stock, $0.01 par value Sale back to company Dispose D No No 24.65 399,209 9.84M 0
25 Jul 22 Alena Brenner Common Stock, $0.01 par value Sale back to company Dispose D No No 24.65 33,725 831.32K 0
25 Jul 22 Alena Brenner Option Common Stock, $0.01 par value Sale back to company Dispose D No No 9.95 39,512 393.14K 0
25 Jul 22 Forbes Gary L Common Stock, $0.01 par value Sale back to company Dispose D No No 24.65 161,382 3.98M 0
25 Jul 22 Forbes Gary L Option Common Stock, $0.01 par value Sale back to company Dispose D No No 11.89 7,134 84.82K 0
25 Jul 22 Forbes Gary L Option Common Stock, $0.01 par value Sale back to company Dispose D No No 7.58 7,029 53.28K 0
25 Jul 22 Holland John J Common Stock, $0.01 par value Sale back to company Dispose D No No 24.65 78,392 1.93M 0
25 Jul 22 Holland John J Option Common Stock, $0.01 par value Sale back to company Dispose D No No 8.95 5,212 46.65K 0
25 Jul 22 Holland John J Option Common Stock, $0.01 par value Sale back to company Dispose D No No 11.89 14,267 169.63K 0
53.3% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 3 2 +50.0%
Opened positions 1 0 NEW
Closed positions 0 0
Increased positions 0 0
Reduced positions 1 0 NEW
13F shares Current Prev Q Change
Total value 130.57M 575.57M -77.3%
Total shares 67.92M 30.29M +124.2%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
CD&R Pisces 39.13M $0 NEW
CD&R Associates VIII 22.8M $0 0.0%
Atrium Intermediate 5.99M $130.57M -20.0%
Largest transactions Shares Bought/sold Change
CD&R Pisces 39.13M +39.13M NEW
Atrium Intermediate 5.99M -1.5M -20.0%
CD&R Associates VIII 22.8M 0 0.0%

Financial report summary

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Competition
NucorWestlakeJELD-WEN HoldingAZEK
Risks
  • The transaction proposed by CD&R may not occur, may increase the volatility of the market price of our common stock and will result in certain costs and expenses.
  • Our industry is cyclical and highly sensitive to macroeconomic conditions. Negative economic events including, but not limited to, recessions, lower consumer confidence, high interest rates, inflation, and lower new construction home starts may materially and adversely affect the outlook for our business, liquidity and results of operations.
  • Uncertainty and volatility in the financial markets and worldwide economic conditions may adversely affect our operating results.
  • The COVID-19 pandemic has had, and may continue to have, an adverse effect on our business.
  • Failure to attract and retain employees could adversely affect our results of operation and financial condition.
  • Manufacturing or assembly realignments may result in a decrease in our short-term earnings, until the expected cost reductions are achieved, due to the costs of implementation.
  • Our business may be adversely affected by weather conditions and other external factors beyond our control.
  • Price volatility and supply constraints for raw materials could prevent us from meeting delivery schedules to our customers or reduce our profit margins.
  • We rely on third-party suppliers for materials in addition to steel, PVC resin, aluminum and glass, and if we fail to identify and develop relationships with a sufficient number of qualified suppliers, or if there is a significant interruption in our supply chains, our business and results of operations could be adversely affected.
  • If we are unable to enforce our intellectual property rights, or if such intellectual property rights become obsolete, our competitive position could be adversely affected.
  • We could incur significant costs as a result of compliance with, violations of or liabilities under applicable environmental, health and safety laws.
  • Changes in building codes and standards could increase the cost of our products, lower the demand for our products, or otherwise adversely affect our business.
  • The industries in which we operate are highly competitive.
  • We face risks related to acquisitions and dispositions that could adversely affect our results of operations.
  • Restructuring our operations may harm our profitability, financial condition and results of operations. Our ability to fully achieve the estimated cost savings is uncertain.
  • We may be significantly affected by global climate change or by legal, regulatory or market responses to global climate change.
  • Evolving expectations around corporate responsibility practices, specifically related to environmental, social and governance (“ESG”) matters, may expose us to reputational and other risks.
  • Breaches of our information system security measures could disrupt our internal operations.
  • Damage to our computer infrastructure and software systems could harm our business.
  • Our enterprise resource planning technologies will require maintenance or replacement in order to allow us to continue to operate and manage critical aspects of our business.
  • We risk liabilities and losses due to personal injury, property damage or product liability claims, which may not be covered by insurance.
  • We face risks related to our international operations.
  • Significant changes in factors and assumptions used to measure our defined benefit plan obligations, actual investment returns on pension assets and other factors could negatively impact our operating results and cash flows.
  • Any impairment of our goodwill and/or intangible assets could negatively impact our results of operations and financial condition.
  • Our stock price has been and may continue to be volatile.
  • The CD&R Investors own a significant amount of our Common Stock and have substantial governance and other rights pursuant to the New Stockholders Agreement.
  • Transactions engaged in by the CD&R Investors, the Golden Gate Investors or our directors or executives involving our Common Stock may have an adverse effect on the price of our Common Stock.
  • We have substantial debt and may incur substantial additional debt, which could adversely affect our financial health, reduce our profitability, limit our ability to obtain financing in the future and pursue certain business opportunities and make payments on our indebtedness.
  • The 2020 Indenture, the Current Cash Flow Credit Agreement and the Current ABL Credit Agreement contain restrictions and limitations that could significantly impact our ability and the ability of most of our subsidiaries to engage in certain business and financial transactions.
  • We may have future capital needs and may not be able to obtain additional financing on acceptable terms or at all.
  • An increase in interest rates would increase the cost of servicing our debt and could reduce our profitability, decrease our liquidity and impact our solvency.
  • The phase-out of LIBOR could increase our interest expense and have a material adverse effect on us.
Management Discussion
  • Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
  • This Quarterly Report includes statements concerning our expectations, beliefs, plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are not historical facts. These statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those expressed or implied by these statements. In some cases, our forward-looking statements can be identified by the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “objective,” “plan,” “potential,” “predict,” “projection,” “should,” “will,” “target” or other similar words. We have based our forward-looking statements on our management’s beliefs and assumptions based on information available to our management at the time the statements are made. We caution you that assumptions, beliefs, expectations, intentions and projections about future events may and often do vary materially from actual results. Therefore, we cannot assure you that actual results will not differ materially from those expressed or implied by our forward-looking statements. Accordingly, investors are cautioned not to place undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, these expectations and the related statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those projected. These risks, uncertainties and other factors include, but are not limited to:
  • •volatility in the United States (“U.S.”) and international economies and in the credit markets;

Content analysis

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Positive
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Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: add, benchmark, contrast, cured, deep, default, differentiation, dismissed, endorsed, expert, FILO, gauge, GILTI, hot, indenture, Interbank, intercompany, lieu, methodology, metric, occasion, painted, par, pari, passu, Prep, prepay, prepayment, proration, PSU, roll, RSU, SOFR, surviving, turn, unrestricted
Removed: ceased, closed, Code, conform, covering, expire, facilitating, funding, policy, processing, professional, rendered