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November 12, 2019 09:00 AM

Purchases help Cornerstone to grow sales in Q3

Utech Staff
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    Cary, North Carolina — Cornerstone Building Brands, formerly NCI Building Systems, generated $1.3 bn sales in the third quarter of 2019. This is higher by 134% than the same period in 2018.

    Operating Income across the business rose 75% and hit $96m the third quarter of 2019. 

    Sales and income grew because of business purchases which added about $830m to the top line.

    The company produces insulated metal panels and this business is located in the company's Commercial Segment. Insulated metal panel sales rose by 3% between the third quarter of 2018 and 2019. They were $109.3m in the third quarter of 2019. This compares with $106.6m the third quarter 2018.

    The company does not break out operating income at this level.

    Across the Commercial Segment as a whole, sales shrank by 15.2%% between the third quarter 2018 and 2019. They reached $464.9m the third quarter of 2019. This compares with $549m in the third quarter of 2018. 

    But, Operating Income in the Commercial Segment shrank by 15%. It was $59.3m the third quarter 2019. This compares with $79.96m in the third quarter of 2018. 

    Cornerstone Building Brands, formerly
    NCI Building Systems Q3 2019 ( $ m)
    Q3 2019 Q3 2018 Change %
    Sales 1285 548.5 134.3%
    Operating Income 95.6 54.5 75.4%
    Margin % 7.4% 9.9%
    Commercial Segment
    Sales 464.9 548.5 -15.2%
    Operating Income 59.3 79.96 -15.2%
    Margin % 0.13 0.15
    Insulated Metal Panels
    Sales 109.3 106.6 2.5%
    Source:Cornerstone
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