Cornerstone Building Brands (NYSE: CNR) reported Q2 EPS of $0.34, $0.42 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $1.08 billion versus the consensus estimate of $996.1 million.

GUIDANCE:

Cornerstone Building Brands sees Q3 2020 revenue of $1.16-1.24 billion, versus the consensus of $1.09 billion.

• Positive residential end-market momentum
• Backlog at historic levels in Windows and Siding segments
• Stable non-residential end-markets
• Anticipate gross profit to be between $275 million and $300 million.
• Expect Adjusted EBITDA2 to be between $170 million and $195 million
• Lower cost structure from run rate of achieved and continued execution of cost savings

Additional Fiscal Year 2020 Guidance

• 2020 capital spending is projected to be approximately $85 million.
• Cash interest expense is expected to be approximately $200 million.
• Cash tax benefit of approximately $10 million.
• Benefits from targeted primary working capital improvements are expected to generate approximately $50 million of cash.
• Cash restructuring costs are expected to be approximately $35 million to achieve between $80 and $100 million of structural savings.

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