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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, Inc. (NYSE: CNM) will release its first fiscal quarter financial results for the period ending May 1, 2022, on June 14, 2022, before market opening. A conference call will occur at 8:30 a.m. EDT the same day to discuss these results. Investors can access the live webcast through the company’s Investor Relations page. Core & Main is a prominent distributor of water and wastewater products and services, with around 300 locations and 4,100 associates dedicated to enhancing community infrastructure nationwide.
Core & Main, Inc. (NYSE: CNM) has officially acquired substantially all assets of Lock City Supply, Inc., based in New York. This strategic acquisition aims to enhance Core & Main's presence in western New York, particularly in the Buffalo region, providing access to a new customer base and expanding service capabilities. Lock City Supply, established in 1973, is known for its comprehensive water and wastewater product offerings and strong customer relationships. The deal aligns with Core & Main's commitment to deliver high-quality products and support to local communities.
Core & Main (NYSE: CNM) has appointed Bhavani Amirthalingam to its board of directors. Amirthalingam, currently the senior vice president and chief digital information officer at Ameren Corporation, brings extensive experience in digital strategy and transformation. Her track record includes roles at Schneider Electric and World Wide Technology. The board now consists of 11 members, including six independent directors. Core & Main specializes in the distribution of water, wastewater, and fire protection products with approximately 300 locations nationwide, emphasizing customer-centric innovation.
Core & Main (NYSE: CNM) has announced the acquisition of Lock City Supply Inc., a distributor of water and wastewater products based in New York. This strategic move aims to enhance customer service and expand market reach.
Lock City Supply, established in 1973, is recognized for its dependable service and expertise in the municipal market. The acquisition supports Core & Main’s commitment to delivering quality infrastructure solutions across the U.S., backed by a robust supply chain and local expertise.
Core & Main, Inc. (NYSE: CNM) reported strong financial results for Q4 and fiscal year 2021, marked by a 50% increase in net sales to $1,246 million and a net income rise to $79 million. For the full year, net sales reached $5,004 million, a 37% increase, with net income rising to $225 million. The company improved gross profit margins and completed strategic acquisitions, including Catalone Pipe & Supply Co. and Dodson Engineered Products. Looking ahead, CNM expects net sales growth in the high single to low double-digit range for fiscal 2022.
Core & Main, Inc. (NYSE: CNM) will announce its financial results for Q4 and fiscal year ending January 30, 2022, before the market opens on March 30, 2022. A conference call and webcast are scheduled for 8:30 a.m. EDT on the same day to discuss these results. The live event can be accessed via the Investor Relations section of their website. Core & Main, based in St. Louis, specializes in the distribution of water, wastewater, and fire protection products, operating approximately 300 locations nationwide.
Core & Main, a leading distributor in water-related products, has successfully completed the acquisition of substantially all assets from Dodson Engineered Products in Colorado. This strategic move is expected to enhance Core & Main's service offerings in the region. Dodson, with over 80 years of experience, specializes in water supply and sewage collection products. The acquisition aims to leverage Dodson's local expertise to improve customer service and expand product offerings, thereby reinforcing Core & Main's commitment to sustainable infrastructure development.
Core & Main, Inc. (NYSE: CNM) has announced its acquisition of substantially all assets of Dodson Engineered Products, Inc., a distributor of products for water, wastewater, and irrigation, based in Colorado. This strategic move aims to enhance Core & Main's reach in central and western Colorado, allowing better service to customers. Dodson, with over 50 years in the industry, is recognized for its customer service quality and local expertise. The integration is anticipated to create synergies that align with both companies’ dedication to superior service.
Core & Main (NYSE: CNM) announced the pricing of its underwritten secondary public offering of 20 million shares at $26.00 per share. Selling stockholders granted underwriters a 30-day option to purchase an additional 3 million shares. The offering will close on
Core & Main, Inc. (NYSE: CNM) has announced a secondary public offering of 20,000,000 shares of its Class A common stock by certain selling stockholders, with an option for underwriters to purchase an additional 3,000,000 shares. The company will not receive proceeds from this offering. Leading the offering are Goldman Sachs, Credit Suisse, and J.P. Morgan. A registration statement has been filed with the SEC, but the offering will not be finalized until it becomes effective. Core & Main specializes in products related to water and wastewater services.
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