Cornerstone Building Brands To Acquire Union Corrugating Company For Undisclosed Sum

Cornerstone Building Brands Inc CNR agreed to acquire Union Corrugating Company Holdings, Inc. (UCC) to expand the metal roof offering to the residential market. The deal terms were not disclosed.
UCC generated ~$250 million in net sales during the trailing twelve months ended August 2021. The company expects to report UCC results through the Commercial business segment.
Based in Fayetteville, North Carolina, UCC has approximately 700 employees across the Central and Eastern U.S. regions.
Cornerstone Building Brands held cash and cash equivalents of $679.4 million as of October 2, 2021.
Additionally, Cornerstone Building Brands reported Q3 Adjusted EPS of $0.39, missing the consensus of $0.56, and Sales of $1.44 billion, beating the consensus of $1.42 billion.
Q4 Outlook: Cornerstone Building Brands expects net sales of $1.425 billion - $1.475 billion vs. consensus of $1.38 billion
It expects gross profit of $310 million - $350 million and Adjusted EBITDA of $170 million - $185 million.
Price Action: CNR shares are trading higher by 7.83% at $15.98 on the last check Wednesday.

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