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Stock impact report

Cornerstone Building Brands Announces Fourth-Quarter and Full-Year 2019 Results

Cornerstone Building Brands, Inc. (CNR) 
Company Research Source: PR Newswire
CARY, N.C., March 3, 2020 /PRNewswire/ -- Cornerstone Building Brands, Inc. (NYSE: CNR) (the "Company"), a leading provider of exterior building products, today reported fourth-quarter and full-year 2019 financial results. "I am pleased with both our financial and operational performance," said James S. Metcalf, Chairman and Chief Executive Officer. "Our results demonstrate our ability to drive shareholder value by leveraging our strong market leadership position, delivering meaningful cost savings and improving the balance sheet." GAAP performance for the fourth quarter and full year 2019 was impacted by the merger between NCI Building Systems, Inc. and Ply Gem Parent, LLC, which was completed on November 16, 2018 (the "Ply Gem Merger"). Fourth-Quarter 2019 ResultsOn a GAAP basis, net sales increased 116.9 percent to $1,244.4 million, and gross profit increased 116.1 percent to $288.0 million, or 23.1 percent of net sales, compared to the prior year period. Net sales declined 1.8 per Show less Read more
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