Core & Main, Inc. Class A ( (CNM) ) has released its Q3 earnings. Here is a breakdown of the information Core & Main, Inc. Class A presented to its investors.
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Core & Main, Inc., based in St. Louis, is a leading specialty distributor focused on water, wastewater, storm drainage, and fire protection products, providing solutions to municipalities, private water companies, and professional contractors across the United States.
In its fiscal 2025 third quarter, Core & Main reported a modest increase in net sales by 1.2% to $2,062 million, alongside a 3.3% rise in gross profit to $561 million. The company also achieved a net income increase of 2.1% to $143 million, despite a slight decrease in Adjusted EBITDA by 1.1% to $274 million.
Key highlights from the quarter include the completion of the acquisition of Canada Waterworks, the opening of new locations in Houston, Texas, and Denver, Colorado, and a $50 million share repurchase. The company also increased its share repurchase authorization by $500 million. Core & Main’s strategic focus on geographic expansion and product diversification, particularly in fusible high-density polyethylene and geosynthetics, contributed to its financial performance.
Looking ahead, Core & Main remains optimistic about growth opportunities, particularly in large, complex projects across its core markets. The company aims to leverage its one-stop-shop offering and exceptional service levels to drive above-market growth and create long-term value for shareholders.