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Core & Main, Inc. - $CNM STOCK NEWS

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. (symbol: CNM) is a leading distributor specializing in water, wastewater, storm drainage, and fire protection products and services. Catering to municipalities, private water companies, and contractors, Core & Main plays a crucial role in supporting both public works and private construction industries nationwide. Their diverse product line, which includes pipes, valves, fittings, storm drainage products, fire protection products, and meter products, is essential for building, repairing, and maintaining water systems. These products form part of the basic municipal infrastructure required to support population and economic growth, as well as residential and commercial construction.

Core & Main operates across three primary construction sectors: municipal, non-residential, and residential. The company's revenue is predominantly generated from the sale of pipes, valves, and fittings, highlighting its strong market position in providing reliable infrastructure solutions.

Recently, Core & Main has achieved significant milestones, including strategic partnerships and expansion projects aimed at enhancing their service capabilities and product offerings. The company remains committed to innovation and quality, ensuring they meet the evolving needs of their diverse customer base.

Financially, Core & Main showcases a robust performance, with steady revenue streams from its comprehensive product line. Their ongoing projects and partnerships signify a strong growth trajectory, positioning the company as a vital player in the infrastructure sector.

In summary, Core & Main, Inc. is indispensable in the waterworks industry, providing critical infrastructure products and services that support sustainable development across various markets in the United States.

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Core & Main (NYSE: CNM) announced a $500 million share repurchase authorization for its Class A common stock. This decision underscores the company's commitment to returning capital to shareholders while maintaining growth and profitability. CEO Steve LeClair emphasized confidence in the company's ability to outpace market growth and generate strong cash flow. The repurchase will be funded through existing cash, short-term borrowings, and future cash flows. Share repurchases can be executed via open market or privately negotiated transactions and may be adjusted based on market conditions and the company's capital needs.

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Core & Main (NYSE: CNM), a leading infrastructure company, announced its fiscal 2024 first quarter results. Net sales rose 10.6% to $1,741 million, while gross profit increased by 6.6% to $468 million, although the gross profit margin decreased by 100 basis points to 26.9%.

Net income fell 24.1% to $101 million, and diluted earnings per share dropped 2.0% to $0.49. Adjusted EBITDA decreased slightly by 1.4% to $217 million, with an Adjusted EBITDA margin of 12.5%.

The company closed five acquisitions during and after the quarter, including Dana Kepner and Geothermal Supply Company. Net debt leverage increased to 2.7x, influenced by higher borrowings for growth investments.

Looking ahead, Core & Main raised its fiscal 2024 net sales and Adjusted EBITDA guidance, expecting net sales between $7.5 to $7.6 billion and Adjusted EBITDA between $935 to $975 million.

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Core & Main (NYSE: CNM), a leading provider in infrastructure solutions, will release its fiscal 2024 first-quarter financial results on June 4, 2024. The results will be published before the market opens.

A live conference call and webcast will be held at 8:30 a.m. ET to discuss these results. The webcast can be accessed on Core & Main's Investor Relations website, and the call can be joined via specific phone numbers with the passcode 988688.

Core & Main will also provide a slide presentation on their financial performance, available online prior to the call. An archived version of the webcast will be accessible after the event.

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Core & Main Inc. (NYSE: CNM) has completed the acquisition of Geothermal Supply Company Inc., a distributor of HDPE pipe and related products in Kentucky.

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Core & Main Inc. (NYSE: CNM) has elected James D. Hope to its board of directors. Hope, with extensive executive experience in finance, sales, and operations, served as the CFO of Performance Food Group Company until 2022. His addition is expected to bring valuable financial expertise, leadership, and strategic planning to Core & Main.

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Core & Main Inc. (NYSE: CNM) has signed an agreement to acquire Geothermal Supply Company Inc., a leading distributor of HDPE pipe products. The acquisition aims to expand Core & Main's offerings in the geothermal, water, and sewer industries.
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Core & Main Inc. (CNM) successfully completes the acquisition of ACF West Inc., a prominent distributor of geosynthetic materials and soil stabilization solutions across multiple states.
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Core & Main Inc. (CNM) announces the acquisition of EGW Utilities, Inc., expanding its product offerings in the underground utility industry. The deal brings together two teams with deep expertise, creating growth opportunities and value for customers.
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Core & Main Inc. promotes Jeff Giles to executive vice president, corporate development, recognizing his significant contributions in building a successful corporate development organization. Giles will continue leading the company's strategy and growth initiatives, overseeing mergers and acquisitions. Core & Main has completed over 30 acquisitions under Giles' leadership, deploying around $1.6 billion of capital.
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Core & Main Inc. (CNM) announces strong financial results for Q4 and fiscal year 2023, with net sales reaching $6.7 billion, net income of $531 million, and Adjusted EBITDA of $910 million. Despite challenges, the company made significant investments in growth, acquisitions, and share repurchases.
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FAQ

What does Core & Main, Inc. specialize in?

Core & Main, Inc. specializes in distributing water, wastewater, storm drainage, and fire protection products and services across the U.S.

Who are Core & Main’s primary customers?

Core & Main primarily caters to municipalities, private water companies, and contractors involved in public works and private construction.

What types of products does Core & Main, Inc. offer?

Core & Main offers a wide range of products including pipes, valves, fittings, storm drainage products, fire protection products, and meter products.

Which markets does Core & Main serve?

Core & Main serves municipal, non-residential, and residential markets nationwide.

What are Core & Main’s key revenue sources?

Core & Main’s key revenue sources are primarily from the sale of pipes, valves, and fittings.

How does Core & Main support infrastructure development?

Core & Main supports infrastructure development by providing essential products for building, repairing, and maintaining water systems.

What recent achievements has Core & Main, Inc. accomplished?

Core & Main has recently achieved significant milestones, including strategic partnerships and expansion projects to enhance their service capabilities and product offerings.

What sectors does Core & Main operate in?

Core & Main operates in three primary construction sectors: municipal, non-residential, and residential.

How does Core & Main ensure quality in their products?

Core & Main is committed to innovation and quality, continuously enhancing their product offerings to meet the evolving needs of their customers.

What is Core & Main’s role in the waterworks industry?

Core & Main is a key player in the waterworks industry, providing crucial infrastructure products and services that support sustainable development.

Core & Main, Inc.

NYSE:CNM

CNM Rankings

CNM Stock Data

9.98B
191.94M
0.15%
87.16%
5.06%
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