About 9 percent of the increase in the first quarter was due to strong demand for residential products sold through the window and siding segments, accounting for 66.6 percent of total revenue for the quarter.

Cornerstone says the company is the leading manufacturer of vinyl windows, vinyl siding, insulated metal panels, metal roofing and wall systems, and metal accessories.

Window sales increased 17.6 percent year over year to $ 527.3 million. This is due to the demand for residential property coupled with increased prices in response to rising raw material costs and other inflationary effects.

The average market price for PVC resin increased 38.7 percent in the first quarter of 2021 compared to 2020. Cornerstone controls the risk of commodity prices in part by increasing its selling prices.

Siding revenue increased 26.9 percent year over year to $ 316.4 million. The company says order momentum has been strong as wholesale and retail demand surpassed the previous year.

For the commercial segment, revenue was unchanged at $ 423.4 million, partly due to unfavorable volume as it was three days off shipping, the report said.

Looking ahead, company officials said Cornerstone building products are sold in several large and attractive end markets and the company is well positioned to benefit from broader societal and population trends that favor suburban areas as employment and living preferences change move towards such regions.

“We also believe that the ongoing COVID-19 pandemic, while still causing economic uncertainty around the world, has driven strong demand for residential repair and remodeling activities, new residential construction and select segments of the low-rise non-residential construction market such as sales, Storage, health and educational facilities in suburban areas; however, the COVID-19 pandemic has created challenges in other areas of non-residential construction as well, particularly in retail and commercial office facilities in densely populated urban centers where we have minimal, if any “Participation,” says the report.

In the press release, Cornerstone announced a forecast for the second quarter that said revenue was between $ 1.37 and $ 1.42 billion due to the strong momentum of single-family homes, as well as end-market repair and remodeling, improvement in non-residential end-markets Material shortages and inflation are expected to affect price movements.

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