Core & Main Inc Stock Price, News & Analysis

Core & Main Inc. (NYSE: CNM), a leading distributor of water and wastewater products, has announced a definitive agreement to acquire substantially all assets of Landscape & Construction Supplies LLC, a geosynthetics provider with two locations in the Chicago area. This acquisition enhances Core & Main's capabilities in delivering superior geosynthetics and erosion control products across more than 15 states. The CEO emphasized the strategic importance of this addition, which aims to expand product offerings and improve customer service. The acquisition aligns with Core & Main’s goal of fostering sustainable infrastructure and improving community services.

Core & Main reported impressive fiscal Q3 2022 results with net sales increasing by 29.4% to $1.818 billion. Gross profit margin rose to 27.5%, an increase of 110 basis points. Net income grew by 63.3% to $178 million, while Adjusted EBITDA jumped 45.5% to $275 million. The company also closed four acquisitions and opened a new location, raising its Adjusted EBITDA guidance for the year to $910-$930 million, indicating year-over-year growth of 51%-54%. The results reflect strong demand and successful growth strategies.

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.