Core & Main (CNM) Lags Q1 Earnings Estimates

Group 1 - Core & Main reported quarterly earnings of $0.49 per share, missing the Zacks Consensus Estimate of $0.51 per share, and showing a slight decrease from $0.50 per share a year ago, resulting in an earnings surprise of -3.92% [1] - The company posted revenues of $1.74 billion for the quarter ended April 2024, surpassing the Zacks Consensus Estimate by 1.16%, and an increase from $1.57 billion year-over-year [2] - Core & Main shares have increased approximately 38.8% since the beginning of the year, significantly outperforming the S&P 500's gain of 10.8% [3] Group 2 - The earnings outlook for Core & Main is mixed, with the current consensus EPS estimate for the coming quarter at $0.78 on revenues of $2.07 billion, and $2.59 on revenues of $7.54 billion for the current fiscal year [7] - The Waste Removal Services industry, to which Core & Main belongs, is currently ranked in the top 37% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]