Core & Main, Inc. Class A ( (CNM) ) has released its Q4 earnings. Here is a breakdown of the information Core & Main, Inc. Class A presented to its investors.
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Core & Main, Inc., a leading specialty distributor in the infrastructure sector, focuses on water, wastewater, storm drainage, and fire protection products across the United States. The company recently released its fiscal 2024 fourth quarter and full-year financial results, showcasing a significant increase in net sales but a decrease in net income. For the fourth quarter, Core & Main reported a 17.9% rise in net sales to $1,698 million, while net income fell by 11.8% to $67 million. The full fiscal year saw net sales climb by 11% to $7,441 million, although net income decreased by 18.3% to $434 million. The company attributed its sales growth to acquisitions and higher volumes, despite facing challenges such as increased interest and income tax expenses. Core & Main’s strategic initiatives included ten acquisitions to expand its geographical presence and product lines, contributing to its sales growth. Looking ahead, Core & Main anticipates modest growth in fiscal 2025, with expected net sales between $7,600 to $7,800 million and adjusted EBITDA ranging from $950 to $1,000 million. The company remains optimistic about its ability to drive profitable growth through strategic investments and market expansion.