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Core & Main, Inc. (symbol: CNM) is a leading distributor specializing in water, wastewater, storm drainage, and fire protection products and services. Catering to municipalities, private water companies, and contractors, Core & Main plays a crucial role in supporting both public works and private construction industries nationwide. Their diverse product line, which includes pipes, valves, fittings, storm drainage products, fire protection products, and meter products, is essential for building, repairing, and maintaining water systems. These products form part of the basic municipal infrastructure required to support population and economic growth, as well as residential and commercial construction.
Core & Main operates across three primary construction sectors: municipal, non-residential, and residential. The company's revenue is predominantly generated from the sale of pipes, valves, and fittings, highlighting its strong market position in providing reliable infrastructure solutions.
Recently, Core & Main has achieved significant milestones, including strategic partnerships and expansion projects aimed at enhancing their service capabilities and product offerings. The company remains committed to innovation and quality, ensuring they meet the evolving needs of their diverse customer base.
Financially, Core & Main showcases a robust performance, with steady revenue streams from its comprehensive product line. Their ongoing projects and partnerships signify a strong growth trajectory, positioning the company as a vital player in the infrastructure sector.
In summary, Core & Main, Inc. is indispensable in the waterworks industry, providing critical infrastructure products and services that support sustainable development across various markets in the United States.
Core & Main, Inc. (NYSE: CNM) will release its unaudited financial results for the third fiscal quarter and nine months ending October 31, 2021, on December 7, 2021, before market opening. A conference call and webcast to discuss these results will take place at 8:30 a.m. EST on the same day. Investors can access the live call by dialing (844) 200-6205 or through its Investor Relations website. The archived webcast and a presentation highlighting key performance indicators will also be made available post-call.
Core & Main (NYSE: CNM) has completed the acquisition of substantially all assets of Catalone Pipe & Supply Co. based in Pennsylvania. This strategic move aims to enhance Core & Main's waterworks product offerings in the Northeast region, leveraging Catalone's expertise in custom concrete catch basins. The acquisition is expected to bolster customer service and efficiency in project delivery, aligning with Core & Main's commitment to sustainable infrastructure.
Core & Main (NYSE: CNM) has announced its acquisition of Catalone Pipe & Supply Co., a provider of waterworks products and services based in Penfield, Pennsylvania. This strategic move aims to enhance Core & Main's footprint in the Northeast region. The acquisition focuses on increasing product offerings and customer base by integrating Catalone's operations, known for their custom solutions and customer service. Core & Main currently operates multiple locations in Pennsylvania, and this acquisition is expected to strengthen its market position.
Core & Main, Inc. (NYSE: CNM) announced the completion of its acquisition of CES Industrial Piping Supply, enhancing its fusible HDPE product range in the Midwest. This strategic move allows Core & Main to leverage CES's expertise in fusible pipe applications, catering to various industries such as industrial, oil and gas, and wastewater management. The acquisition aligns with Core & Main's commitment to providing advanced solutions and expanding its market presence, while welcoming CES's skilled team into its operations.
Core & Main, Inc. (NYSE: CNM) has been included in both the Russell 1000® and Russell 3000® Indexes as part of their quarterly IPO additions. This inclusion is significant as it broadens the company's visibility to a wider audience of investors and stakeholders. The Russell U.S. Indexes are widely utilized by investment managers, with over $10 trillion in assets benchmarked against them. Core & Main, a specialized distributor of water and wastewater products, operates over 285 locations nationwide, supporting sustainable infrastructure through its dedicated team of 3,700 associates.
Core & Main (NYSE: CNM) announced it has entered into a definitive agreement to acquire CES Industrial Piping Supply, a provider of HDPE products based in Kansas City, Missouri. The acquisition is aimed at enhancing Core & Main's capabilities in high-density polyethylene (HDPE) products, offering customers comprehensive solutions in fabrication and installation. This move is anticipated to strengthen Core & Main's market presence and expand its customer base in the region.
Core & Main, Inc. (NYSE: CNM) reported strong financial results for the second quarter of fiscal 2021, with net sales soaring 35.7% to $1.3 billion. Adjusted EBITDA rose 56.8% to $155.2 million, reflecting improved pricing and strong volume growth. However, net income fell 47.5% to $9.5 million, impacted by a significant loss on debt modification. The company successfully completed its IPO, raising approximately $802 million, enhancing its financial flexibility for acquisitions. The outlook for the remainder of fiscal 2021 remains positive, expecting Adjusted EBITDA between $470 million and $510 million.
Core & Main, Inc. (NYSE: CNM) announced it will release its unaudited financial results for the second fiscal quarter, ending August 1, 2021, before the market opens on September 14, 2021. A conference call will be held at 8:30 a.m. EDT on the same day, featuring CEO Steve LeClair, CFO Mark Witkowski, and VP Robyn Bradbury. Investors can access the live webcast via the company’s Investor Relations site. Core & Main is a specialized distributor of water, wastewater, storm drainage, and fire protection products, with over 285 locations nationwide.
Core & Main, Inc. (NYSE: CNM) has completed its acquisition of substantially all assets of L & M Bag & Supply Co., Inc., based in Willacoochee, Georgia. This marks Core & Main’s 14th acquisition since August 2017. The acquisition enhances its product offerings in the erosion control and geosynthetic market, which includes geotextile fabrics and safety barriers. CEO Steve LeClair and President Jack Schaller expressed excitement about the growth opportunities this acquisition presents, emphasizing their commitment to community impact.
Core & Main (NYSE: CNM) has successfully completed the issuance of 5,232,558 additional shares of Class A common stock, following the full exercise of the underwriters’ over-allotment option related to its IPO. Each share was sold at $20.00, generating approximately $104.7 million in gross proceeds. This brings the total raised from the IPO to about $802.3 million. The IPO originally commenced trading on July 23, 2021. The offering was managed by Goldman Sachs, Credit Suisse, and J.P. Morgan among other financial institutions.
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