Core & Main, Inc. Class A ( (CNM) ) has released its Q2 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, serving municipalities, private water companies, and professional contractors across the U.S. with over 370 locations.
Core & Main reported a solid performance in its fiscal 2025 second quarter, with net sales rising by 6.6% to $2,093 million and net income increasing by 11.9% to $141 million compared to the same period last year. The company also announced the opening of new locations and the acquisition of Canada Waterworks, expanding its footprint.
Key financial highlights include a gross profit increase of 8.1% to $560 million and a 14.8% rise in diluted earnings per share to $0.70. The company also reported an adjusted EBITDA increase of 3.5% to $266 million. Despite higher operating expenses, Core & Main managed to expand its gross profit margin to 26.8%.
Looking forward, Core & Main has adjusted its full-year expectations due to current market conditions, projecting net sales between $7,600 and $7,700 million and adjusted EBITDA of $920 to $940 million. The company remains optimistic about its long-term growth prospects, focusing on strategic investments and cost control measures.
With a broad portfolio and a strong market position, Core & Main is well-positioned to capitalize on ongoing investments in U.S. water infrastructure, aiming to deliver continued value to its stakeholders.