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Core & Main, Inc. - CNM STOCK NEWS

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.

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.

News

Littlejohn & Co. to Sell Dana Kepner to Core & Main

Rhea-AI Summary
Littlejohn & Co. LLC has entered into a definitive agreement to sell Dana Kepner Company, LLC to Core & Main Inc. Dana Kepner is a leading water and wastewater distributor serving eight states, with a network of nineteen branches. Under Littlejohn's ownership, the Company has nearly doubled revenue and completed two strategic acquisitions. The acquisition is subject to regulatory approval and other customary closing conditions.
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Core & Main Signs Agreement to Acquire Dana Kepner

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Core & Main Inc. (CNM) has announced the acquisition of Dana Kepner Company LLC, a distributor of water, wastewater, storm drainage, and geotextile products, along with specialty tools and accessories. The deal is subject to regulatory approval and customary closing conditions.
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Core & Main Announces Secondary Offering and Share Repurchase

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Core & Main Inc. (CNM) has announced an underwritten secondary public offering of 19.8 million shares of its Class A common stock by certain selling stockholders. The company is not offering any shares in the offering and will not receive any proceeds from it. The offering is subject to market conditions, and there is no assurance as to whether or when it may be completed. Concurrently, Core & Main expects to repurchase and redeem shares from the selling stockholders at the same per share price to be paid by the underwriters. J.P. Morgan and Citigroup are acting as the joint lead book-running managers for the offering.
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Core & Main Completes Acquisition of Lee Supply Company Inc.

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Core & Main Inc. (CNM) has completed the acquisition of Lee Supply Company Inc., a leading distributor and fabricator of HDPE pipe and related services, with locations in Pennsylvania, South Carolina, and West Virginia.
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Core & Main Signs Agreement to Acquire Eastern Supply

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Core & Main Inc. (CNM) has entered into a definitive agreement to acquire substantially all of the assets of Eastern Supply Inc. and a related entity, a distributor of storm drainage products with custom fabrication capabilities. The acquisition is expected to enhance Core & Main's national waterworks expertise, leveraging the extensive product knowledge and fabrication capabilities of the Eastern Supply team. With close to three decades of experience, Eastern Supply has built enduring customer relationships and prides itself on delivering reliable and creative start-to-finish site solutions. The acquisition reflects Core & Main's focus on growth, collaborative associate development, and customer satisfaction.
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Core & Main Announces Upsizing of Secondary Offering

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Core & Main Inc. (NYSE: CNM) announced the upsize of the previously announced underwritten secondary public offering by certain selling stockholders. The size of the offering increased from 15 million shares to an aggregate of 17 million shares of its Class A common stock. The offering is expected to close on January 10, 2024, subject to customary closing conditions. J.P. Morgan and Citigroup are acting as joint lead book-running managers for the offering.
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Core & Main Announces Secondary Offering and Share Repurchase

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Core & Main Inc. (CNM) Announces Secondary Public Offering of 15 Million Shares
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Core & Main Announces Secondary Offering and Share Repurchase

Rhea-AI Summary
Core & Main Inc. (CNM) announced an underwritten secondary public offering of 15 million shares of its Class A common stock by certain selling stockholders, with the option to purchase an additional 2.25 million shares. The company is not offering any shares in the offering and will not receive any proceeds from it. Concurrently, Core & Main expects to repurchase and redeem 3.13 million shares of its Class A common stock and 1.87 million partnership interests of its subsidiary. Citigroup and J.P. Morgan are the joint lead book-running managers for the offering.
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Core & Main Completes Acquisition of Granite Water Works Inc.

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Core & Main Inc. (CNM) completes acquisition of Granite Water Works Inc. assets
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Core & Main Announces Fiscal 2023 Third Quarter Results

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Core & Main Inc. (CNM) announced financial results for the third quarter ended October 29, 2023. Net sales increased by 0.5% to $1,827 million, while gross profit margin decreased by 50 basis points to 27.0%. Net income decreased by 11.2% to $158 million, and adjusted EBITDA (Non-GAAP) decreased by 5.5% to $260 million. The company raised expectations for fiscal 2023 Adjusted EBITDA to be in the range of $890 to $910 million and announced three acquisitions after the quarter: Enviroscape, Granite Water Works, and Lee Supply Company.
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FAQ

What is the current stock price of Core & Main (CNM)?

The current stock price of Core & Main (CNM) is $45.27 as of November 22, 2024.

What is the market cap of Core & Main (CNM)?

The market cap of Core & Main (CNM) is approximately 8.7B.

What does Core & Main, Inc. specialize in?

Core & Main, Inc. specializes in distributing water, wastewater, storm drainage, and fire protection products and services across the U.S.

Who are Core & Main’s primary customers?

Core & Main primarily caters to municipalities, private water companies, and contractors involved in public works and private construction.

What types of products does Core & Main, Inc. offer?

Core & Main offers a wide range of products including pipes, valves, fittings, storm drainage products, fire protection products, and meter products.

Which markets does Core & Main serve?

Core & Main serves municipal, non-residential, and residential markets nationwide.

What are Core & Main’s key revenue sources?

Core & Main’s key revenue sources are primarily from the sale of pipes, valves, and fittings.

How does Core & Main support infrastructure development?

Core & Main supports infrastructure development by providing essential products for building, repairing, and maintaining water systems.

What recent achievements has Core & Main, Inc. accomplished?

Core & Main has recently achieved significant milestones, including strategic partnerships and expansion projects to enhance their service capabilities and product offerings.

What sectors does Core & Main operate in?

Core & Main operates in three primary construction sectors: municipal, non-residential, and residential.

How does Core & Main ensure quality in their products?

Core & Main is committed to innovation and quality, continuously enhancing their product offerings to meet the evolving needs of their customers.

What is Core & Main’s role in the waterworks industry?

Core & Main is a key player in the waterworks industry, providing crucial infrastructure products and services that support sustainable development.

Stock CNM logo
Core & Main, Inc.

NYSE:CNM

CNM Rankings

#950 Ranked by Market Cap
N/A Ranked by Dividends

CNM Stock Data

8.75B
191.96M
0.34%
108.03%
6.57%
Industrial Distribution
Wholesale-durable Goods, Nec
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United States of America
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