Core & Main Analysts Boost Their Forecasts Following Upbeat Q3 Earnings

Core Insights - Core & Main Inc reported Q3 earnings of 89 cents per share, exceeding the analyst consensus estimate of 76 cents per share [1] - Quarterly sales were $2.062 billion, slightly missing the analyst consensus estimate of $2.066 billion [1] - The company affirmed FY2025 sales guidance of $7.600 billion to $7.700 billion [1] Performance Highlights - CEO Mark Witkowski noted positive net sales growth despite soft residential demand, attributed to acquisitions and strong sales initiatives [2] - Key product categories such as fusible high-density polyethylene, treatment plant solutions, and geosynthetics achieved double-digit growth [2] - Metering products returned to high single-digit growth, driven by demand for integrated solutions addressing aging water infrastructure [2] - The company expanded geographically by opening new locations in Houston, Texas, and Denver, Colorado, targeting priority markets with growth potential [2] Analyst Reactions - Baird analyst David Manthey maintained an Outperform rating and raised the price target from $62 to $64 [4] - JP Morgan analyst Stephen Tusa maintained an Overweight rating and increased the price target from $58 to $59 [4]