Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Core & Main (CNM)
NYSE:CNM
Holding CNM?
Track your performance easily
Earnings Data
Report Date
Mar 19, 2025Before Open Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.37Last Year’s EPS
$0.34Same Quarter Last Year
Moderate Buy
Based on 9 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Dec 03, 2024
|% Change Since: 4.66%
|Next Earnings Date:Mar 19, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook. Core & Main highlighted strong sales, successful acquisitions, and robust cash flow generation, indicating positive business momentum. However, challenges such as declining gross margins, decreased net income, and increased expenses due to cost inflation and interest rates were also noted. The company is focused on capital deployment and acquisition strategies to drive future growth.Company Guidance
In the Core & Main Q3 2023 Earnings Call, the company provided detailed guidance for the current fiscal year and a preliminary outlook for 2024. The management expects fiscal 2023 net sales to be between $6.65 billion and $6.75 billion, with an adjusted EBITDA range of $890 million to $910 million due to strong margin performance and disciplined inventory optimization. For fiscal 2024, market volume growth is anticipated to be flat to up low single digits, driven by stable municipal budgets and potential federal infrastructure funding, with pricing expected to remain neutral. The company noted year-to-date net sales of just over $1.8 billion and an adjusted EBITDA margin of 14.2% in Q3. Gross margin was reported at 27%, 50 basis points lower than the previous year, due to inventory costs aligning with market prices, although gross margin initiatives and M&A synergies have offset some of these impacts. The company has also highlighted its strategic focus on organic growth, M&A, and capital returns, deploying $770 million for share repurchases in 2023 and maintaining a robust acquisition pipeline with eight acquisitions contributing over $330 million in annualized net sales.Strong Sales and Demand Resilience
Core & Main reported net sales of over $1.8 billion for the third quarter, slightly above the previous year. Sales were up 30% from the third quarter of fiscal 2021, driven by resilient demand and growth initiatives.
Successful Acquisitions and Market Expansion
The company announced three new acquisitions after the quarter, with combined annualized net sales of over $330 million. These acquisitions enhance product offerings and market presence.
High Operating Cash Flow Generation
Core & Main generated $373 million in operating cash flow in the third quarter, with over 140% conversion from adjusted EBITDA.
Positive Capital Deployment Strategy
The company executed share repurchases, deploying nearly $770 million of capital to retire 30 million shares this year, enhancing shareholder value.
Robust M&A Pipeline
The M&A pipeline remains strong, with expectations of continued growth through acquisitions, targeting 2% to 4% annual net sales growth from M&A.
---
CNM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
CNM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Dec 03, 2024 | $48.29 | $55.78 | +15.51% |
| Sep 04, 2024 | $46.80 | $39.40 | -15.81% |
| Jun 04, 2024 | $56.09 | $47.98 | -14.46% |
| Mar 19, 2024 | $50.69 | $54.49 | +7.50% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Core & Main (CNM) report earnings?
Core & Main (CNM) is schdueled to report earning on Mar 19, 2025, Before Open Not Confirmed.
What is Core & Main (CNM) earnings time?
Core & Main (CNM) earnings time is at Mar 19, 2025, Before Open Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CNM EPS forecast?
CNM EPS forecast for the fiscal quarter 2024 (Q4) is $0.37.
---