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.
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Core & Main has successfully acquired the assets of Midwest Pipe Supply, enhancing its presence in the drainage and waterworks sector in Iowa. This acquisition is expected to leverage Midwest Pipe Supply's established reputation and local expertise to expand Core & Main's service capabilities. The combined efforts aim to improve service delivery and product offerings across various sectors, including contractors and municipalities. Core & Main, based in St. Louis, operates over 320 locations nationwide, focusing on water, wastewater, and related infrastructure solutions. The acquisition is seen as a strategic move to enhance market reach and operational efficiency.
Core & Main (NYSE: CNM) has announced a secondary public offering of 5 million shares of its Class A common stock by certain selling stockholders, with no proceeds going to the company itself. Concurrently, Core & Main plans to repurchase up to 9,377,183 shares of its Class A common stock and 5,622,817 partnership interests of its subsidiary at the same price offered to the selling stockholders. This repurchase is subject to the offering's completion, indicating a strategic move to reduce shares in circulation and potentially increase value for existing investors. J.P. Morgan Securities is the sole underwriter for this offering, which is dependent on market conditions.
Core & Main Inc. (NYSE: CNM) has successfully acquired substantially all assets of UPSCO Inc. and its affiliates, enhancing its portfolio in utility infrastructure products and services. UPSCO, established in 1965, is recognized for its prefabricated meter sets and offers a broad range of products including valves and piping solutions. This acquisition is anticipated to align with Core & Main's existing meter business, further expanding its capabilities in the Northeast, Mid-Atlantic, and Midwest regions. Core & Main's CEO, Steve LeClair, emphasizes the synergy between the two companies, focusing on shared commitment to high-quality service and reliable infrastructure. The union aims to leverage both companies' strengths to better serve utilities and contractors across the U.S.
Core & Main (NYSE: CNM) reported robust financial results for the fourth quarter and fiscal year ended January 29, 2023. Fourth-quarter net sales rose by 10.3% to $1.374 billion, with net income increasing 6.3% to $84 million. For fiscal 2022, net sales totaled $6.651 billion, a 32.9% increase year-over-year. Adjusted EBITDA for the year grew by 54.8% to $935 million, reflecting improved margins. The company closed eight acquisitions, adding $175 million in annualized net sales. Looking forward, Core & Main anticipates fiscal 2023 net sales between $6.455 billion and $6.875 billion.
Core & Main Inc. (NYSE: CNM), a specialized distributor of water and wastewater products, will release its financial results for Q4 and the fiscal year ended January 29, 2023, on March 28, 2023, before market open. The company will hold a conference call at 8:30 a.m. EDT to discuss these results. Investors can access the live webcast via their Investor Relations webpage or dial in using provided numbers. Core & Main operates approximately 300 locations nationwide, delivering local expertise backed by a national supply chain, supported by a workforce of 4,100 associates.
Core & Main has completed the acquisition of substantially all assets of Landscape & Construction Supplies LLC, enhancing its product offerings in geosynthetics and erosion control in the upper Midwest. This strategic move, announced by CEO Steve LeClair, aims to leverage Landscape & Construction Supplies’ established reputation and local expertise to better serve customers across more than 15 states. Founded in 2004, Landscape & Construction Supplies is recognized for quality products and strong local relationships. The integration is expected to strengthen Core & Main's position in the market.
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.