Core & Main, Inc. reports developments tied to its role as a specialty distributor of water, wastewater, storm drainage and fire protection products and related services. The company serves municipalities, private water companies and professional contractors across municipal, non-residential and residential infrastructure end markets in the United States and Canada.
Recurring news covers quarterly and annual results, sales and margin drivers, distribution costs, branch expansion, completed acquisitions, service-capability investments, share repurchase authorizations and board succession. Updates also reflect the company’s focus on maintenance, repair, replacement and construction demand across waterworks and fire protection infrastructure.
Core & Main, Inc. (NYSE: CNM) has completed its acquisition of Earthsavers Erosion Control, LLC, enhancing its geosynthetics product offerings in northern California. This acquisition brings skilled associates and decades of experience to Core & Main, enabling better customer service and a broader range of products. Earthsavers specializes in erosion control materials and serves markets in California, Nevada, and Arizona. The transaction is expected to strengthen Core & Main's position in the region.
Core & Main (NYSE: CNM) reported robust financial results for Q1 fiscal 2022, with net sales surging 52% to $1,598 million. Gross profit grew 64% to $421 million, enhancing the gross margin to 26.3%. Net income skyrocketed to $137 million, up from $27 million. Adjusted EBITDA doubled to $219 million, with a margin increase to 13.7%. The company successfully improved its net debt leverage to 2.2x and remains active in M&A, having completed two acquisitions and planning another. Adjusted EBITDA guidance for fiscal 2022 is raised to $710-$750 million, indicating strong growth potential.
Core & Main (NYSE: CNM) announced its acquisition of Earthsavers Erosion Control, LLC, a geosynthetics products provider in northern California. This strategic acquisition aims to enhance Core & Main's erosion control expertise and expand its services across the western U.S. Earthsavers, established in 2009, offers high-quality erosion control products from its facilities in Woodland and Petaluma. The acquisition is expected to strengthen Core & Main's market presence and support its commitment to serving customers effectively.
Core & Main, Inc. (NYSE: CNM) will release its first fiscal quarter financial results for the period ending May 1, 2022, on June 14, 2022, before market opening. A conference call will occur at 8:30 a.m. EDT the same day to discuss these results. Investors can access the live webcast through the company’s Investor Relations page. Core & Main is a prominent distributor of water and wastewater products and services, with around 300 locations and 4,100 associates dedicated to enhancing community infrastructure nationwide.
Core & Main, Inc. (NYSE: CNM) has officially acquired substantially all assets of Lock City Supply, Inc., based in New York. This strategic acquisition aims to enhance Core & Main's presence in western New York, particularly in the Buffalo region, providing access to a new customer base and expanding service capabilities. Lock City Supply, established in 1973, is known for its comprehensive water and wastewater product offerings and strong customer relationships. The deal aligns with Core & Main's commitment to deliver high-quality products and support to local communities.
Core & Main (NYSE: CNM) has appointed Bhavani Amirthalingam to its board of directors. Amirthalingam, currently the senior vice president and chief digital information officer at Ameren Corporation, brings extensive experience in digital strategy and transformation. Her track record includes roles at Schneider Electric and World Wide Technology. The board now consists of 11 members, including six independent directors. Core & Main specializes in the distribution of water, wastewater, and fire protection products with approximately 300 locations nationwide, emphasizing customer-centric innovation.
Core & Main (NYSE: CNM) has announced the acquisition of Lock City Supply Inc., a distributor of water and wastewater products based in New York. This strategic move aims to enhance customer service and expand market reach.
Lock City Supply, established in 1973, is recognized for its dependable service and expertise in the municipal market. The acquisition supports Core & Main’s commitment to delivering quality infrastructure solutions across the U.S., backed by a robust supply chain and local expertise.
Core & Main, Inc. (NYSE: CNM) reported strong financial results for Q4 and fiscal year 2021, marked by a 50% increase in net sales to $1,246 million and a net income rise to $79 million. For the full year, net sales reached $5,004 million, a 37% increase, with net income rising to $225 million. The company improved gross profit margins and completed strategic acquisitions, including Catalone Pipe & Supply Co. and Dodson Engineered Products. Looking ahead, CNM expects net sales growth in the high single to low double-digit range for fiscal 2022.
Core & Main, Inc. (NYSE: CNM) will announce its financial results for Q4 and fiscal year ending January 30, 2022, before the market opens on March 30, 2022. A conference call and webcast are scheduled for 8:30 a.m. EDT on the same day to discuss these results. The live event can be accessed via the Investor Relations section of their website. Core & Main, based in St. Louis, specializes in the distribution of water, wastewater, and fire protection products, operating approximately 300 locations nationwide.
Core & Main, a leading distributor in water-related products, has successfully completed the acquisition of substantially all assets from Dodson Engineered Products in Colorado. This strategic move is expected to enhance Core & Main's service offerings in the region. Dodson, with over 80 years of experience, specializes in water supply and sewage collection products. The acquisition aims to leverage Dodson's local expertise to improve customer service and expand product offerings, thereby reinforcing Core & Main's commitment to sustainable infrastructure development.