Core & Main sees FY25 revenue $7.6B-$7.8B, consensus $7.42B

Sees FY25 adjusted EBITDA $950M-$1B. Sees FY25 revenue up 2%-5%. Sees FY25 adjusted EBITDA margin 12.5%-12.8%. Sees FY25 operating cash flow $570M-$650M. “As we enter fiscal 2025, we expect overall demand in our industry to be flat to slightly positive with modest growth in municipal repair and replacement activity,” said Mark Witkowski, CFO of Core & Main. “We offer a strong value proposition to the industry and intend to deliver above market sales growth and market share gains from the execution of our product, customer and geographic expansion initiatives. After a period of normalization, we expect to drive gross margin expansion in fiscal 2025, supported by our private label, sourcing optimization and pricing initiatives. We anticipate strong operating cash flow generation and will continue deploying capital that results in accelerated growth and value creation for our shareholders in what we expect will be another year of profitable growth for Core & Main.”