Cornerstone Building Brands Inc (CNR) released its first quarter results on Tuesday, May 11, 2021. The company reported net earnings of $-0.01 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 100 percent compared to the same period a year ago.
Cornerstone Building Brands, Inc. was founded in 1984 and is headquartered in Cary, North Carolina. Cornerstone Building Brands, Inc., together with its subsidiaries, designs, engineers, manufactures, markets, and installs external building products for the commercial, residential, and repair and remodel markets in the United States, Canada, Mexico, and internationally. The company operates through three segments: Windows, Siding, and Commercial.
Cornerstone Building Brands' revenue decreased 3 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 22.58% for the first quarter compared to the same period in the previous year, and operating margins increased to 5.04% over the same period. Net earnings for past trailing twelve months were $56.69 million, up 111% from the prior year.
Moving on to the balance sheet, Cornerstone Building Brands' cash levels jumped 39% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 6.14% this past year. The current ratio for Cornerstone Building Brands now stands at 2.59. The company decreased shares outstanding by 0.37%.
Shares of CNR are currently trading around $13.51. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 29.91 and price to book ratio of 3.71.