Cornerstone Building Brands (CNR) Misses Q4 EPS by 9c

March 4, 2021 6:23 AM EST

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Cornerstone Building Brands (NYSE: CNR) reported Q4 EPS of $0.06, $0.09 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $1.19 billion versus the consensus estimate of $1.18 billion.

Outlook

First-Quarter 2021 Guidance

  • The first quarter of fiscal 2021 will have three fewer ship days; 64 ship days as compared to 67 ship days in the first quarter of 2020
  • The Company expects net sales to be between $1,195 million and $1,240 million as a result of:
  • Strong single-family housing end-market momentum; expect double digit growth in residential businesses over prior year
  • Improving non-residential end-markets
  • Gross Profit is anticipated to be between $250 million and $265 million.
  • Adjusted EBITDA1 is expected to be between $110 million and $125 million based on the following assumption:
  • Disciplined price leadership to more than offset increasing raw material costs

Additional Fiscal Year 2021 Guidance

  • Cost savings initiatives of $75 million to $80 million
  • Return of near-term costs of approximately $20 million to $30 million
  • Capital spending is projected to be approximately 2.5% of net sales
  • Cash interest expense is expected to be approximately $215 million
  • Cash tax rate expected to be approximately 30%
  • Expect to improve net debt leverage by 3/4 to one turn

For earnings history and earnings-related data on Cornerstone Building Brands (CNR) click here.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Earnings, Guidance

Related Entities

Earnings