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 St. Louis-based specialty distributor focused on water, wastewater, storm drainage and fire protection products and related services. This news page aggregates company announcements, earnings releases and transaction updates so readers can follow how Core & Main’s distribution network and infrastructure-focused business evolve over time.
According to its public statements, Core & Main serves municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets. News about the company often highlights its role in advancing reliable infrastructure with local service, nationwide, and the performance of product categories such as pipes, valves and fittings, storm drainage products, fire protection products and meter products.
Investors and industry followers can use this page to review quarterly and annual financial results, including metrics like net sales, gross profit, net income, Adjusted EBITDA and operating cash flow as reported in Core & Main’s earnings press releases. Coverage also includes updates on acquisitions and geographic expansion, such as the completed acquisition of Canada Waterworks in Canada and the agreement to acquire Pioneer Supply in Oklahoma and Texas, as well as the opening of new locations in markets the company identifies as priorities.
Additional news items may address capital allocation decisions, including changes to the company’s share repurchase authorization, and corporate governance developments, such as annual meeting results or executive transitions disclosed in filings and press releases. For users tracking CNM stock, this page offers a centralized view of Core & Main’s publicly released information, from infrastructure-focused growth initiatives to shareholder-related announcements.
Core & Main (NYSE: CNM) has successfully acquired the assets of Lanier Municipal Supply Co., enhancing its presence in the Southeast waterworks market. This acquisition leverages Lanier's four decades of expertise, significantly boosting Core & Main's capabilities in delivering water, wastewater, storm drainage, and irrigation products. CEO Steve LeClair emphasized the strategic importance of this move for improving customer service and expanding market reach, while the integration of Lanier is projected to strengthen operational efficiency and customer relationships.
Core & Main (NYSE: CNM) is set to report its financial results for the third fiscal quarter and nine months ending October 30, 2022, on December 13, 2022, before market opens. A conference call and webcast will take place at 8:30 a.m. EST to discuss the results. Investors can access the live call via dial-in or through the website. The company provides products and services for water, wastewater, and fire protection systems with around 300 locations nationwide and a committed workforce of 4,100 associates.
Core & Main, Inc. (NYSE: CNM) announced a definitive agreement to acquire Lanier Municipal Supply Co. Inc., enhancing its distribution of water and wastewater products in the Southeast. This acquisition, which includes assets of Lanier, bolsters Core & Main's service capabilities and market presence. With over 40 years in the industry, Lanier is known for its strong customer relationships and local expertise. The strategic move aims to improve service delivery and infrastructure sustainability for waterworks customers.
Core & Main (NYSE: CNM) has finalized its acquisition of substantially all assets of Distributors, Inc., a leading distributor of fire protection products based in Hawaii. This strategic move aims to expand Core & Main's presence in the fire protection market. Leadership highlighted the importance of Distributors, Inc.’s local expertise and strong reputation, which will enhance customer service and product delivery across Hawaii. The acquisition is anticipated to strengthen operational capabilities and broaden Core & Main’s market reach.
Core & Main (NYSE: CNM) has completed its acquisition of the municipal waterworks division of Trumbull Industries, Inc., enhancing its market presence in Ohio and Pennsylvania. This deal includes assets from Trumbull's affiliated entity, a supplier of specialty products. CEO Steve LeClair emphasized the acquisition's strategic importance for improving customer service and product offerings. The municipal division operates through four branches in Ohio and Pennsylvania, reinforcing Core & Main’s commitment to infrastructure needs across these regions.
Core & Main, Inc. (NYSE: CNM) has announced a definitive agreement to acquire the assets of Distributors, Inc., a Hawaii-based distributor of fire protection products. This strategic acquisition aims to enhance Core & Main's position in the fire protection services market by leveraging Distributors, Inc.'s established reputation and extensive expertise. The merger is expected to add value for both companies' customers, further solidifying Core & Main's commitment to delivering quality services across its operational areas.
Core & Main, Inc. (NYSE: CNM) announced an increase in the size of its secondary public offering from 10 million to 11 million shares of Class A common stock, priced at $23.75 per share. The underwriter, Goldman Sachs & Co. LLC, has a 30-day option to purchase an additional 1.65 million shares. Core & Main will not receive proceeds from this offering, which is expected to close on September 19, 2022. This offering does not constitute an offer to sell or a solicitation to buy securities in any jurisdiction where it would be unlawful.
Core & Main (NYSE: CNM) has launched a secondary public offering of 10,000,000 shares of Class A common stock by selling stockholders, with an option for underwriters to purchase an additional 1,500,000 shares. Core & Main will not receive any proceeds from this offering. The company's latest share price was $25.01. Goldman Sachs is the sole underwriter, and the offering is contingent on market conditions. Interested investors can access regulatory documents related to this offering on the SEC's website.
Core & Main (NYSE: CNM) reported exceptional second quarter results for fiscal 2022, with net sales soaring 43.4% to $1.861 billion. Key highlights include a gross profit margin rise of 190 basis points to 26.9% and a remarkable net income increase of $172 million to $182 million. Adjusted EBITDA jumped 78.7% to $277 million, reflecting strong operational performance. The company is actively pursuing M&A to bolster growth and has raised its fiscal 2022 Adjusted EBITDA outlook to $840-$890 million, anticipating 39%-47% growth year-over-year.
Core & Main, Inc. (NYSE: CNM) has elected Robert M. Buck to its board of directors. Buck is currently the CEO of TopBuild, bringing extensive experience in industrial business growth and strategic acquisitions. Chairman Jim Berges emphasized Buck's alignment with the company's goals of fostering customer relationships through industry expertise.
With approximately 300 locations and 4,100 associates, Core & Main specializes in distributing water and wastewater products, aiming to enhance its strategic vision and growth opportunities under Buck’s guidance.