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● CORNERSTONE BUILDING BRANDS NEWS RELEASE Cornerstone Building Brands Reports Strong Second - Quarter 2021 Results Posted second - quarter net sales growth of 29 percent , with strong performance across all business segments Generated earnings per diluted share of $ 0.07 , with adjusted earnings per diluted share of $ 0.67 Delivered net income of $ 9 million , with adjusted net income of $ 84 million , 11 percent higher than prior year Generated $ 190 million of pro forma Adjusted EBITDA¹ , 18 percent higher than prior year Expects to reduce year end net debt leverage by one to one and a half turns versus year end 2020 CARY , NC , August 3 , 2021 - Cornerstone Building Brands , Inc. ( NYSE : CNR ) ( the " Company " ) , the largest manufacturer of exterior building products in North America , today reported strong financial results for the second quarter of 2021 that reflected net sales growth and strong performance across all business segments . Net sales for the second quarter were $ 1,400.1 million , an increase of 29.1 percent compared with net sales of $ 1,084.9 million in the same quarter last year , and an increase of 8.1 percent from the second quarter of 2019. Pro forma net sales¹ of $ 1,406.3 million were 28.0 percent higher than in the second quarter of 2020. The net sales growth was driven by increased volume of 13.4 percent compared with the prior - year quarter and price actions in response to rising commodity costs and other inflationary impacts . For the first half of 2021 , pro forma net sales were $ 2,691.1 million , a 20.4 percent increase over the prior - year first half , led by strong volume growth of 11.3 percent with two fewer fiscal ship days . Net income was $ 8.8 million or $ 0.07 per diluted share compared with $ 26.5 million or $ 0.21 per diluted share in the same quarter last year . Adjusted net income¹ was $ 84.5 million or $ 0.67 per diluted share , an 11.2 percent increase compared to the prior year . For the first half of 2021 , Adjusted net income¹ was $ 122.7 million or $ 0.97 per diluted share compared with a net loss of $ 41.3 million in the same period last year . Pro forma Adjusted EBITDA¹ for the second quarter of 2021 was $ 190.2 million , which was 18.3 percent higher than the same pro forma period a year ago and 7.9 % percent higher than the comparable 2019 period . Pro forma Adjusted EBITDA¹ growth was driven by strong residential demand and price actions offsetting inflationary impacts partially reduced by higher manufacturing costs incurred to serve customers . For the first half of 2021 , pro forma Adjusted EBITDA¹ of $ 331.4 million was 12.3 percent of pro forma net sales¹ , which increased 70 basis points over the same pro forma period a year ago and 200 basis points from the comparable 2019 period . " We continue to leverage the strengths of our business model to deliver long - term profitable growth , " said James S. Metcalf , Chairman and Chief Executive Officer . " This quarter we delivered record second quarter earnings and made significant progress toward optimizing our portfolio . These actions strengthen our financial flexibility and position the Company to deliver value to all our stakeholders . " As part of the Company's ongoing effort to optimize its portfolio , the Company entered into definitive agreements to divest its Insulated Metal Panels business to Nucor Insulated Panel Group Inc and the Roll - up Sheet Doors business to Janus Industrial Holdings Inc for approximately $ 1.2 billion in cash transactions , subject to customary closing adjustments . Both transactions are expected to close in the third quarter of 2021 . 1 Segment Results Versus Prior Year Due to the timing of the Company's fiscal calendar , second - quarter 2021 had one more ship day than second - quarter 2020 . Windows segment net sales for the quarter were $ 579.7 million , an increase of 35.4 percent versus the same period last year . Strong volumes across all sales channels drove increased volume of 22.5 percent coupled with incremental sales growth from recent acquisition of Prime Windows . Also contributing to the increase was disciplined price actions in response to rising commodity costs and other inflationary impacts . Operating income was $ 38.8 million for the quarter , an increase of $ 15.7 million or 67.9 percent from the prior year quarter . Pro forma Adjusted EBITDA¹ was ( 1 ) Adjusted and pro forma financial metrics used in this release , including Adjusted EBITDA , are non - GAAP measures . See reconciliations of GAAP results to adjusted results and pro forma results in the accompanying tables .