Welcome to our dedicated page for Core & Main news (Ticker: CNM), a resource for investors and traders seeking the latest updates and insights on Core & Main stock.
Overview of Core & Main Inc.
Core & Main Inc. (NYSE: CNM) is a leading distributor of water, wastewater, storm drainage, and fire protection products and services in the United States. The company plays a pivotal role in the construction and maintenance of critical infrastructure, providing essential products that support population growth, economic development, and public safety. With a diverse portfolio of products and services, Core & Main serves a wide range of customers, including municipalities, private water companies, and contractors, across municipal, non-residential, and residential markets.
Core Business Areas
Core & Main’s operations are centered around the distribution of products that are integral to building, repairing, and maintaining water systems. These include:
- Pipes, Valves, and Fittings: The backbone of water systems, these products are essential for transporting water and wastewater in municipal and private infrastructure.
- Storm Drainage Products: Solutions designed to manage stormwater and prevent flooding in urban and rural areas.
- Fire Protection Products: Equipment such as hydrants, sprinkler systems, and related components that ensure safety in residential, commercial, and industrial settings.
- Meter Products: Devices used for accurate water measurement and billing, critical for efficient water management.
These products are distributed through a network of locations nationwide, ensuring timely delivery and accessibility for customers across diverse geographies.
Market Position and Industry Context
Core & Main operates within the broader waterworks and infrastructure industry, which is essential for supporting urbanization, economic growth, and environmental sustainability. The company’s products and services are indispensable for public works projects, private construction, and the maintenance of municipal infrastructure. By addressing the needs of both public and private sectors, Core & Main occupies a unique position as a critical enabler of reliable and resilient water systems.
The company’s focus on water systems aligns with long-term trends such as population growth, urbanization, and increasing investments in infrastructure. Additionally, its contributions to fire protection and stormwater management highlight its role in enhancing public safety and environmental resilience.
Revenue Streams and Business Model
Core & Main generates revenue primarily through the direct sale of its products to municipalities, contractors, and private water companies. Its diverse customer base spans three key construction sectors:
- Municipal: Supporting public waterworks projects, including repairs and upgrades to aging infrastructure.
- Non-Residential: Providing solutions for commercial and industrial construction projects.
- Residential: Supplying products for new housing developments and residential repairs.
This diversified approach helps the company maintain stability and adapt to varying market conditions. Its extensive product portfolio and nationwide distribution network further strengthen its competitive advantage.
Competitive Landscape
Core & Main faces competition from other large-scale distributors in the waterworks and construction supply sectors. However, its comprehensive product offerings, focus on customer service, and strategic presence across the United States differentiate it from competitors. The company’s ability to deliver high-quality products and solutions tailored to the needs of its customers underscores its commitment to reliability and excellence.
Significance in Infrastructure Development
As a key player in the waterworks industry, Core & Main contributes to the development and maintenance of infrastructure that is vital for public health, safety, and economic growth. Its products and services enable municipalities and contractors to address challenges such as aging infrastructure, water scarcity, and climate change. By supporting the construction of resilient and sustainable water systems, Core & Main plays a crucial role in shaping the future of infrastructure in the United States.
Conclusion
Core & Main Inc. is more than a distributor; it is a cornerstone of infrastructure development. Through its diverse product portfolio, extensive distribution network, and commitment to customer service, the company addresses critical needs in waterworks, fire protection, and stormwater management. Its contributions to reliable and sustainable infrastructure make it an indispensable partner for municipalities, contractors, and private water companies nationwide.
Core & Main (NYSE: CNM) reported its fiscal 2024 Q4 and full-year results, showing mixed performance. Q4 net sales increased 17.9% to $1,698 million, while gross profit rose 17.4% to $451 million. However, Q4 net income decreased 11.8% to $67 million.
For fiscal 2024, the company achieved net sales growth of 11.0% to $7,441 million, though net income declined 18.3% to $434 million. The company maintained a gross profit margin of 26.6% and reported Adjusted EBITDA growth of 2.2% to $930 million.
Key operational highlights include completing ten acquisitions, repurchasing $176 million of shares, and generating $621 million in operating cash flow. For fiscal 2025, Core & Main projects net sales of $7,600-$7,800 million and Adjusted EBITDA of $950-$1,000 million.
The company also announced leadership changes effective March 31, 2025, with CEO Steve LeClair transitioning to executive chair, CFO Mark Witkowski becoming CEO, and Robyn Bradbury assuming the CFO role.
Core & Main (NYSE: CNM) announced key leadership changes effective March 31, 2025, as part of its long-term succession planning. Current CEO Steve LeClair will transition to executive chair, continuing to lead the board of directors while serving as a business advisor.
Current CFO Mark Witkowski, who joined in 2007 and has served as CFO since 2016, will succeed LeClair as CEO and join the board of directors. Robyn Bradbury, currently senior VP of finance and investor relations, will be promoted to CFO. Bradbury, who joined in 2009, led the company's successful IPO in 2021 and first investor day in 2023.
Under LeClair's leadership, Core & Main transformed from a division of HD Supply into a private equity-sponsored standalone business in 2017, followed by one of 2021's largest and most successful IPOs. The company has consistently delivered strong performance and value creation since then.
Core & Main (NYSE: CNM), a specialty distributor focused on infrastructure solutions, has scheduled its fiscal 2024 fourth quarter and full-year financial results announcement for March 25, 2025, before market opening. The company will host a conference call and webcast at 8:30 a.m. ET to discuss the results.
Investors can access the webcast through the company's investor relations website at ir.coreandmain.com. For those joining by phone, the dial-in numbers are 833-470-1428 (domestic) and +1-404-975-4839 (international), with passcode 121316. A slide presentation will be available on the website, and an archived version of the webcast will be accessible immediately after the call.
Immokalee Water & Sewer District in Collier County, Florida, has partnered with Xylem (NYSE: XYL) and Core & Main for a comprehensive digital transformation initiative. The project includes deploying over 7,200 ally® residential water meters and implementing the Sensus FlexNet® communication network to enhance operational efficiency.
The modernization will enable remote meter management, water pressure tracking, and water quality monitoring. The district, serving 24,000+ year-round residents, will utilize the Xylem Vue platform to integrate data from multiple sources into a single platform, improving emergency response capabilities during hurricane season. The project, supported by State of Florida funding, aims to maintain affordable rates while managing seasonal population fluctuations that double water usage during harvest season.
Core & Main (NYSE: CNM) reported strong fiscal 2024 third quarter results with net sales increasing 11.5% to $2,038 million. The company's gross profit rose 9.9% to $543 million, while net income decreased 11.4% to $140 million. Diluted earnings per share increased 6.2% to $0.69. The company completed five strategic acquisitions during and after the quarter. Core & Main raised its full-year outlook, expecting net sales between $7,350-$7,450 million and Adjusted EBITDA of $915-$935 million.
Core & Main (NYSE: CNM) announced it will release its fiscal 2024 third quarter financial results before market opens on Tuesday, December 3, 2024. The company will host a conference call and webcast at 8:30 a.m. ET to discuss the results. Investors can access the webcast through ir.coreandmain.com or join via phone using specific dial-in numbers. A slide presentation and archived version of the webcast will be available on the company's Investor Relations website.
Core & Main (NYSE: CNM) has completed its acquisition of ARGCO Northeast , a fire protection products distributor based in Saddle Brook, New Jersey. The acquisition, which was previously announced, involves substantially all assets of ARGCO Northeast's single location operation. This strategic move aligns with Core & Main's focus on advancing reliable infrastructure with local service nationwide.
Core & Main (NYSE: CNM) has completed its acquisition of Eastcom Associates, a distributor of underground utility protection equipment based in Branchburg, New Jersey. The acquisition, which was previously announced, involves substantially all of Eastcom's assets. Eastcom operates from a single location and specializes in underground utility protection equipment distribution.
Core & Main Inc. (NYSE: CNM), a leading specialty distributor of infrastructure products, has announced a definitive agreement to acquire ARGCO Northeast , a fire protection products distributor based in Saddle Brook, New Jersey. This acquisition aims to enhance Core & Main's expertise in fire protection and expand its product and service offerings.
Mike Huebert, president of Core & Main, emphasized the alignment of ARGCO Northeast's commitment to partnership with Core & Main's values. Richard Dehn, general manager of ARGCO Northeast, expressed excitement about joining forces with an industry leader and the potential benefits for customers and associates, including expanded resources and career development opportunities.
Core & Main Inc. (NYSE: CNM) has entered into a definitive agreement to acquire substantially all the assets of Eastcom Associates Inc., a distributor of underground utility protection equipment based in Branchburg, New Jersey. Eastcom has been operating since 1972, serving surveyors and contractors in 13 states with damage prevention equipment, training, and service.
Mike Huebert, president of Core & Main, expressed excitement about the acquisition, highlighting Eastcom's product and service knowledge in a growing product area for Core & Main. Dennis Cinelli, general manager of Eastcom Associates, emphasized the company's 50-year commitment to being a dependable partner and believes the alignment with Core & Main will create new opportunities for success and growth.
FAQ
What is the current stock price of Core & Main (CNM)?
What is the market cap of Core & Main (CNM)?
What does Core & Main Inc. do?
Who are Core & Main's primary customers?
What markets does Core & Main serve?
How does Core & Main generate revenue?
What sets Core & Main apart from competitors?
What role does Core & Main play in infrastructure development?
What challenges does Core & Main face in its industry?
What are Core & Main's key product categories?
