Cornerstone Building Brands, Inc. ( CNR Quick Quote CNR - Free Report) is scheduled to release third-quarter 2020 results on Nov 10, after the closing bell. In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate by a significant margin.. Q3 Estimates
The Zacks Consensus Estimate for the to-be-reported quarter’s earnings per share is pegged at 30 cents, flat year over year. Moreover, earnings estimate for the quarter have remained stable in the past 30 days.
Factors to Note
The company’s third-quarter performance is likely to have benefited from improving demand for commercial business. Moreover, improving housing starts, and robust repair and remodeling (R&R) activity might have contributed to both Windows and Siding segments revenues in the third quarter. Also, increasing backlog is likely to have aided the Commercial segment.
Effective expense management and structural cost reductions are likely to have aided adjusted EBITDA. Also, the acquisition of Kleary Masonry, Inc. is anticipated to have driven the top line and expanded value-added, turnkey stone veneer solutions.
The company expects net sales between $1,160 million and $1,240 million, gross profit within $275-$300 million and adjusted EBITDA in the range of $170-$195 million.
Quantitative Model Prediction
Our proven model does not conclusively predict an earnings beat for Cornerstone this time around. The combination of a positive
Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here as you Earnings ESP: Its Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. Zacks Rank: Cornerstone, which shares space with Forterra, Inc. ( FRTA Quick Quote FRTA - Free Report) in the Zacks Building Products - Concrete and Aggregates industry, currently carries a Zacks Rank #3. You can see . the complete list of today’s Zacks #1 Rank stocks here Peer Releases Vulcan Materials Company ( VMC Quick Quote VMC - Free Report) reported third-quarter 2020 results, wherein both earnings and revenues missed the Zacks Consensus Estimate after beating the same in the preceding two quarters. Martin Marietta Materials, Inc. ( MLM Quick Quote MLM - Free Report) reported third-quarter 2020 results, wherein earnings beat the Zacks Consensus Estimate but revenues (products and services) lagged the same. Increased pricing strategy and prudent cost management helped the company offset lower shipments. Breakout Biotech Stocks with Triple-Digit Profit Potential
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