Core & Main (CNM) came out with quarterly earnings of $0.61 per share, missing the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.66 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -16.44%. A quarter ago, it was expected that this distributor of water and fire protection products would post earnings of $0.51 per share when it actually produced earnings of $0.49, delivering a surprise of -3.92%. O ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 28, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 001-40650 Core & Main, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organ ...

Financial Performance - Net sales for the second quarter of fiscal 2024 increased by 5.5% to $1,964 million compared to $1,861 million in the same quarter of fiscal 2023[2]. - Gross profit for the second quarter increased by 3.4% to $518 million, with a gross profit margin of 26.4%, down 50 basis points from the previous year[2][7]. - Net income for the second quarter decreased by 23.2% to $126 million, and diluted earnings per share decreased by 7.6% to $0.61[2][9]. - Adjusted EBITDA for the second quarter decreased by 4.8% to $257 million, with an Adjusted EBITDA margin of 13.1%, down 140 basis points year-over-year[2][10]. - Operating income decreased to $204 million for the second quarter of fiscal 2024, down from $226 million in the same quarter of the previous year[30]. - Basic earnings per share for the second quarter were $0.62, down from $0.66 in the same period last year[30]. - Adjusted EBITDA for the six months ended July 28, 2024, was $474 million, down from $490 million for the same period in 2023, reflecting a decrease of 3.3%[39]. - Adjusted EBITDA margin for the three months ended July 28, 2024, was calculated at 102.3% of net sales, compared to 103.6% for the same period in 2023[39]. Acquisitions and Business Expansion - The company acquired five new businesses during and after the quarter, enhancing its geographic reach and product offerings[2][3]. - Acquisitions of businesses totaled $596 million during the second quarter, reflecting the company's strategy for market expansion[33]. Debt and Cash Flow - As of July 28, 2024, net debt was $2,439 million, with a Net Debt Leverage ratio of 2.7x, an increase of 1.0x from the previous year[18]. - Long-term debt rose to $2,404 million as of July 28, 2024, compared to $1,863 million at the end of January 2024, indicating increased leverage[31]. - Total Debt increased to $2,452 million as of July 28, 2024, compared to $1,585 million as of July 30, 2023, marking a significant increase of 55%[42]. - Net cash provided by operating activities for the second quarter was $48 million, a decrease of $234 million compared to the same quarter last year[17]. - The company reported a net cash provided by operating activities of $126 million for the second quarter, a decrease from $402 million in the same quarter last year[33]. Shareholder Returns - The company announced a $500 million share repurchase program, marking its first standing share repurchase authorization since becoming public[4]. Expenses - SG&A expenses for the second quarter increased by 12.6% to $268 million, primarily due to acquisitions[8]. - Interest expense for the six months ended July 28, 2024, was $70 million, up from $39 million for the same period in 2023, reflecting an increase of 79.5%[39]. - Equity-based compensation expenses for the three months ended July 28, 2024, were $4 million, compared to $3 million for the same period in 2023, showing a 33.3% increase[39]. - The company reported depreciation and amortization expenses of $167 million for the twelve months ended July 28, 2024, compared to $146 million for the same period in 2023[40]. Outlook - For fiscal 2024, the company revised its net sales outlook to a range of $7.3 to $7.4 billion and Adjusted EBITDA to a range of $900 to $930 million due to weather disruptions and lower end-market volumes[20]. - Core & Main expects variability in acquisition expenses to impact future GAAP financial results, indicating potential unpredictability in earnings[38].

Core & Main, Inc. (CNM) is scheduled to release its second-quarter fiscal 2024 results on Sept. 4, before market open. CNM outpaced the Zacks Consensus Estimate in one of the four quarters, met in one, and missed in two instances, delivering a negative earnings surprise of 1.7%, on average. Q2 Expectations for Core & Main The Zacks Consensus Estimate for CNM's revenues is pegged at $7.5 billion, indicating an 11.4% increase from the year-ago quarter's actual.We anticipate robust end-market volumes and an ea ...

Company Performance - Core & Main (CNM) closed at $53.71, reflecting a +1.59% change from the previous day, outperforming the S&P 500's loss of 0.32% [1] - Over the past month, CNM shares have decreased by 1.23%, underperforming the Business Services sector's gain of 0.64% and the S&P 500's gain of 1.52% [1] Upcoming Earnings - The upcoming earnings report for Core & Main is scheduled for September 4, 2024, with projected earnings per share (EPS) of $0.73, indicating a 10.61% increase from the same quarter last year [2] - Revenue is expected to reach $2.03 billion, representing a 9.04% increase from the prior-year quarter [2] Full Year Estimates - For the full year, analysts expect earnings of $2.32 per share and revenue of $7.47 billion, reflecting changes of +7.91% and +11.42% respectively from the previous year [3] Analyst Estimates - Recent changes to analyst estimates for Core & Main are important as they indicate shifts in near-term business trends, with upward revisions suggesting positive sentiment towards the company's operations [4] Zacks Rank and Valuation - Core & Main currently holds a Zacks Rank of 3 (Hold), with no changes in the Zacks Consensus EPS estimate over the past month [6] - The company has a Forward P/E ratio of 22.76, which is a discount compared to the industry's average Forward P/E of 30.35 [7] PEG Ratio - Core & Main has a PEG ratio of 2, which is lower than the Waste Removal Services industry's average PEG ratio of 2.67 [8] Industry Ranking - The Waste Removal Services industry, part of the Business Services sector, has a Zacks Industry Rank of 102, placing it in the top 41% of over 250 industries [9]

In the latest trading session, Core & Main (CNM) closed at $50.55, marking a -0.69% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.2%. On the other hand, the Dow registered a loss of 0.15%, and the technology-centric Nasdaq decreased by 0.34%. Shares of the distributor of water and fire protection products witnessed a loss of 2.32% over the previous month, trailing the performance of the Business Services sector with its gain of 0.88% and the S&P 500's gain of 1 ...

Core & Main (CNM) closed the latest trading day at $47.53, indicating a -0.65% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 1.04% for the day. Meanwhile, the Dow experienced a rise of 0.76%, and the technology-dominated Nasdaq saw an increase of 1.03%. Prior to today's trading, shares of the distributor of water and fire protection products had lost 3.8% over the past month. This has was narrower than the Business Services sector's loss of 5.54% and ...

Investors will be eagerly watching for the performance of Core & Main in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.73, signifying a 10.61% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $2.03 billion, up 9.04% from the prior-year quarter. The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, wi ...

Core & Main (CNM) closed the latest trading day at $51.22, indicating a +0.75% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.55%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 0.63%. The distributor of water and fire protection products's shares have seen a decrease of 0.41% over the last month, not keeping up with the Business Services sector's gain of 0.56% and the S&P 500's gain of 4.28%. Investors will be eagerly ...

Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Core & Main (CNM) . Brokerage Recommendation Trends for CNM This means that the interests of these institutions are not always aligned with those of retail investors, giving little insight into the direction of a stock's future price movement. It would therefore be best to use this information to validate your own analysis or a tool that has proven t ...