Welcome to our dedicated page for Core & Main news (Ticker: CNM), a resource for investors and traders seeking the latest updates and insights on Core & Main stock.
Core & Main Inc. (NYSE: CNM) is a vital contributor to North America's water infrastructure through its distribution of essential waterworks products. This dedicated news hub provides investors and stakeholders with comprehensive coverage of the company's operational developments, financial milestones, and industry leadership.
Access official press releases and verified updates spanning key operational areas including municipal infrastructure projects, product line expansions, and strategic partnerships. Our curated collection enables efficient tracking of earnings announcements, regulatory developments, and market position changes within the waterworks distribution sector.
Key updates include quarterly financial results, major contract awards, sustainability initiatives, and technological advancements in water management solutions. The resource serves as an essential tool for monitoring CNM's role in addressing critical infrastructure needs across residential, commercial, and municipal markets.
For ongoing monitoring of Core & Main's impact on water system development and fire protection infrastructure, bookmark this page for real-time updates. Regularly refreshed content ensures informed decision-making about this essential infrastructure partner.
Core & Main (NYSE: CNM) reported its fiscal 2024 Q4 and full-year results, showing mixed performance. Q4 net sales increased 17.9% to $1,698 million, while gross profit rose 17.4% to $451 million. However, Q4 net income decreased 11.8% to $67 million.
For fiscal 2024, the company achieved net sales growth of 11.0% to $7,441 million, though net income declined 18.3% to $434 million. The company maintained a gross profit margin of 26.6% and reported Adjusted EBITDA growth of 2.2% to $930 million.
Key operational highlights include completing ten acquisitions, repurchasing $176 million of shares, and generating $621 million in operating cash flow. For fiscal 2025, Core & Main projects net sales of $7,600-$7,800 million and Adjusted EBITDA of $950-$1,000 million.
The company also announced leadership changes effective March 31, 2025, with CEO Steve LeClair transitioning to executive chair, CFO Mark Witkowski becoming CEO, and Robyn Bradbury assuming the CFO role.
Core & Main (NYSE: CNM) announced key leadership changes effective March 31, 2025, as part of its long-term succession planning. Current CEO Steve LeClair will transition to executive chair, continuing to lead the board of directors while serving as a business advisor.
Current CFO Mark Witkowski, who joined in 2007 and has served as CFO since 2016, will succeed LeClair as CEO and join the board of directors. Robyn Bradbury, currently senior VP of finance and investor relations, will be promoted to CFO. Bradbury, who joined in 2009, led the company's successful IPO in 2021 and first investor day in 2023.
Under LeClair's leadership, Core & Main transformed from a division of HD Supply into a private equity-sponsored standalone business in 2017, followed by one of 2021's largest and most successful IPOs. The company has consistently delivered strong performance and value creation since then.
Core & Main (NYSE: CNM), a specialty distributor focused on infrastructure solutions, has scheduled its fiscal 2024 fourth quarter and full-year financial results announcement for March 25, 2025, before market opening. The company will host a conference call and webcast at 8:30 a.m. ET to discuss the results.
Investors can access the webcast through the company's investor relations website at ir.coreandmain.com. For those joining by phone, the dial-in numbers are 833-470-1428 (domestic) and +1-404-975-4839 (international), with passcode 121316. A slide presentation will be available on the website, and an archived version of the webcast will be accessible immediately after the call.
Immokalee Water & Sewer District in Collier County, Florida, has partnered with Xylem (NYSE: XYL) and Core & Main for a comprehensive digital transformation initiative. The project includes deploying over 7,200 ally® residential water meters and implementing the Sensus FlexNet® communication network to enhance operational efficiency.
The modernization will enable remote meter management, water pressure tracking, and water quality monitoring. The district, serving 24,000+ year-round residents, will utilize the Xylem Vue platform to integrate data from multiple sources into a single platform, improving emergency response capabilities during hurricane season. The project, supported by State of Florida funding, aims to maintain affordable rates while managing seasonal population fluctuations that double water usage during harvest season.
Core & Main (NYSE: CNM) reported strong fiscal 2024 third quarter results with net sales increasing 11.5% to $2,038 million. The company's gross profit rose 9.9% to $543 million, while net income decreased 11.4% to $140 million. Diluted earnings per share increased 6.2% to $0.69. The company completed five strategic acquisitions during and after the quarter. Core & Main raised its full-year outlook, expecting net sales between $7,350-$7,450 million and Adjusted EBITDA of $915-$935 million.
Core & Main (NYSE: CNM) announced it will release its fiscal 2024 third quarter financial results before market opens on Tuesday, December 3, 2024. The company will host a conference call and webcast at 8:30 a.m. ET to discuss the results. Investors can access the webcast through ir.coreandmain.com or join via phone using specific dial-in numbers. A slide presentation and archived version of the webcast will be available on the company's Investor Relations website.
Core & Main (NYSE: CNM) has completed its acquisition of ARGCO Northeast , a fire protection products distributor based in Saddle Brook, New Jersey. The acquisition, which was previously announced, involves substantially all assets of ARGCO Northeast's single location operation. This strategic move aligns with Core & Main's focus on advancing reliable infrastructure with local service nationwide.
Core & Main (NYSE: CNM) has completed its acquisition of Eastcom Associates, a distributor of underground utility protection equipment based in Branchburg, New Jersey. The acquisition, which was previously announced, involves substantially all of Eastcom's assets. Eastcom operates from a single location and specializes in underground utility protection equipment distribution.
Core & Main Inc. (NYSE: CNM), a leading specialty distributor of infrastructure products, has announced a definitive agreement to acquire ARGCO Northeast , a fire protection products distributor based in Saddle Brook, New Jersey. This acquisition aims to enhance Core & Main's expertise in fire protection and expand its product and service offerings.
Mike Huebert, president of Core & Main, emphasized the alignment of ARGCO Northeast's commitment to partnership with Core & Main's values. Richard Dehn, general manager of ARGCO Northeast, expressed excitement about joining forces with an industry leader and the potential benefits for customers and associates, including expanded resources and career development opportunities.
Core & Main Inc. (NYSE: CNM) has entered into a definitive agreement to acquire substantially all the assets of Eastcom Associates Inc., a distributor of underground utility protection equipment based in Branchburg, New Jersey. Eastcom has been operating since 1972, serving surveyors and contractors in 13 states with damage prevention equipment, training, and service.
Mike Huebert, president of Core & Main, expressed excitement about the acquisition, highlighting Eastcom's product and service knowledge in a growing product area for Core & Main. Dennis Cinelli, general manager of Eastcom Associates, emphasized the company's 50-year commitment to being a dependable partner and believes the alignment with Core & Main will create new opportunities for success and growth.
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