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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 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.
Core & Main Inc. (NYSE: CNM), a leading provider of reliable infrastructure solutions with nationwide local service, has successfully completed its acquisition of Green Equipment Company. This strategic move involves acquiring substantially all assets of Green Equipment Company, a specialized provider of underground utility protection equipment based in Fort Worth, Texas. The acquisition, which was previously announced, strengthens Core & Main's position in the infrastructure sector and expands its product offerings in the critical area of utility protection.
Core & Main Inc. (NYSE: CNM), a leader in advancing reliable infrastructure with local service nationwide, has completed its acquisition of substantially all assets of GroGreen Solutions Georgia, GroGreen Solutions is a leading provider of erosion control products with four locations across three states: two in Georgia, one in Florida, and one in Mississippi. This acquisition, previously announced, marks a significant expansion for Core & Main in the erosion control market and strengthens its presence in the southeastern United States.
Core & Main (NYSE: CNM) reported its fiscal 2024 second quarter results, showing net sales growth of 5.5% to $1,964 million. However, the company faced challenges, with net income decreasing 23.2% to $126 million and diluted earnings per share dropping 7.6% to $0.61. The company's performance was impacted by project delays due to wet weather conditions and lower end-market volumes. Despite these challenges, Core & Main's meter initiative showed strong growth of 48%. The company acquired five new businesses during and after the quarter, expanding its geographical reach and product lines. Core & Main also announced a $500 million share repurchase program, demonstrating its commitment to returning capital to shareholders.
Core & Main Inc. (NYSE: CNM), a leading provider of reliable infrastructure solutions, has announced it will release its fiscal 2024 second quarter financial results on Wednesday, September 4, 2024, before the market opens. The company will host a live conference call and webcast at 8:30 a.m. ET on the same day to discuss the results.
Investors can access the webcast through the events calendar on Core & Main's investor relations website. For those preferring to join by phone, the dial-in numbers are 833-470-1428 (US) or +1-404-975-4839 (international), with passcode 823702. Participants are advised to dial in at least 10 minutes before the call starts. An archived version of the webcast and a slide presentation highlighting the results will be available on the company's website following the call.
Core & Main Inc. (NYSE: CNM), a leader in reliable infrastructure, has agreed to acquire Green Equipment Company, a provider of underground utility protection equipment based in Fort Worth, Texas. Green Equipment Company, founded in 1982, distributes damage prevention, utility locating, and wastewater inspection equipment across eight states. This acquisition is expected to enhance Core & Main's product portfolio and present new growth opportunities in the southwest and southeast United States.
The acquisition aligns with Core & Main's focus on delivering high-quality products with superior customer service. It is anticipated to strengthen Core & Main's ability to provide comprehensive solutions for underground utility needs. The deal's financial terms were not disclosed in the press release.
Core & Main Inc. (NYSE: CNM), a leading provider of reliable infrastructure solutions with nationwide local service, has completed its acquisition of HM Pipe Products. This Canadian distributor of water and wastewater products operates from two locations in London and Kitchener, Ontario. The acquisition, previously announced, marks Core & Main's expansion into the Canadian market, potentially strengthening its position in the water infrastructure industry. While specific financial details were not disclosed, this strategic move could enhance Core & Main's product offerings and geographical reach in North America.
Core & Main Inc. (NYSE: CNM) has announced a definitive agreement to acquire GroGreen Solutions Georgia, , a leading provider of erosion control products. GroGreen, established in 2008, operates from four locations across the southeastern United States, offering a comprehensive portfolio of erosion control and geotextile products for professional and industrial projects.
The acquisition is expected to complement Core & Main's existing geosynthetics product portfolio and accelerate growth in the Southeast region. GroGreen's strong presence and distribution capabilities in the area are seen as key assets. Core & Main's leadership views the acquisition as a strategic fit, citing GroGreen's commitment to superior service and high-quality products as aligning with their own business values.
Core & Main Inc. (NYSE: CNM), a leader in advancing reliable infrastructure with local service nationwide, has opened a new facility in Hayden, Idaho. This strategic expansion aims to enhance the company's waterworks product category and improve service to customers in the Northwest region. The move aligns with Core & Main's growth strategy, demonstrating its commitment to increasing accessibility of its products and expertise across the United States.
This development signifies Core & Main's efforts to strengthen its market presence and expand its operational footprint. By establishing a new location in Idaho, the company is positioning itself to better meet the demands of the waterworks industry in the Northwestern United States, potentially leading to improved customer service and increased market share in the region.
Core & Main (NYSE: CNM), a leading provider of water and wastewater infrastructure products, has signed an agreement to acquire HM Pipe Products, a Canadian distributor with locations in London and Kitchener, Ontario. This acquisition marks Core & Main's expansion into the Canadian market, leveraging HM Pipe Products' extensive market knowledge and customer relationships. Established in 2010, HM Pipe Products is known for its wide range of products serving contractors and municipalities. Core & Main plans to utilize combined resources to address Canada's water and wastewater needs, aiming for significant growth opportunities in the multibillion-dollar Canadian market.