Core & Main narrows FY25 revenue view to $7.6B-$7.7B from $7.6B-$7.8B

Consensus $7.78B. Lowers FY25 adjusted EBITDA view to $920M-$940M from $950M-$1B. The company said, “At the same time, we are operating in an environment marked by higher operating expenses and softer residential demand. To address these dynamics, we have implemented targeted actions to improve productivity and operating margins. As a result of these trends, we’re lowering our expectations for full-year net sales to $7,600 to $7,700 million, Adjusted EBITDA to $920 to $940 million, and operating cash flow to $550 to $610 million. We remain confident in our long-term growth and margin expansion opportunities, and in our ability to balance strategic investments with disciplined cost control to drive continued growth and efficiency. With our broad portfolio of products and services, Core & Main is well-positioned to benefit from sustained investment in U.S. water infrastructure. We remain committed to delivering value to our customers, suppliers, communities and shareholders.”