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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) has successfully acquired substantially all assets of UPSCO Inc. and its affiliates, enhancing its portfolio in utility infrastructure products and services. UPSCO, established in 1965, is recognized for its prefabricated meter sets and offers a broad range of products including valves and piping solutions. This acquisition is anticipated to align with Core & Main's existing meter business, further expanding its capabilities in the Northeast, Mid-Atlantic, and Midwest regions. Core & Main's CEO, Steve LeClair, emphasizes the synergy between the two companies, focusing on shared commitment to high-quality service and reliable infrastructure. The union aims to leverage both companies' strengths to better serve utilities and contractors across the U.S.
Core & Main (NYSE: CNM) reported robust financial results for the fourth quarter and fiscal year ended January 29, 2023. Fourth-quarter net sales rose by 10.3% to $1.374 billion, with net income increasing 6.3% to $84 million. For fiscal 2022, net sales totaled $6.651 billion, a 32.9% increase year-over-year. Adjusted EBITDA for the year grew by 54.8% to $935 million, reflecting improved margins. The company closed eight acquisitions, adding $175 million in annualized net sales. Looking forward, Core & Main anticipates fiscal 2023 net sales between $6.455 billion and $6.875 billion.
Core & Main Inc. (NYSE: CNM), a specialized distributor of water and wastewater products, will release its financial results for Q4 and the fiscal year ended January 29, 2023, on March 28, 2023, before market open. The company will hold a conference call at 8:30 a.m. EDT to discuss these results. Investors can access the live webcast via their Investor Relations webpage or dial in using provided numbers. Core & Main operates approximately 300 locations nationwide, delivering local expertise backed by a national supply chain, supported by a workforce of 4,100 associates.
Core & Main has completed the acquisition of substantially all assets of Landscape & Construction Supplies LLC, enhancing its product offerings in geosynthetics and erosion control in the upper Midwest. This strategic move, announced by CEO Steve LeClair, aims to leverage Landscape & Construction Supplies’ established reputation and local expertise to better serve customers across more than 15 states. Founded in 2004, Landscape & Construction Supplies is recognized for quality products and strong local relationships. The integration is expected to strengthen Core & Main's position in the market.
Core & Main Inc. (NYSE: CNM), a leading distributor of water and wastewater products, has announced a definitive agreement to acquire substantially all assets of Landscape & Construction Supplies LLC, a geosynthetics provider with two locations in the Chicago area. This acquisition enhances Core & Main's capabilities in delivering superior geosynthetics and erosion control products across more than 15 states. The CEO emphasized the strategic importance of this addition, which aims to expand product offerings and improve customer service. The acquisition aligns with Core & Main’s goal of fostering sustainable infrastructure and improving community services.
Core & Main reported impressive fiscal Q3 2022 results with net sales increasing by 29.4% to $1.818 billion. Gross profit margin rose to 27.5%, an increase of 110 basis points. Net income grew by 63.3% to $178 million, while Adjusted EBITDA jumped 45.5% to $275 million. The company also closed four acquisitions and opened a new location, raising its Adjusted EBITDA guidance for the year to $910-$930 million, indicating year-over-year growth of 51%-54%. The results reflect strong demand and successful growth strategies.
Core & Main (NYSE: CNM) has successfully acquired the assets of Lanier Municipal Supply Co., enhancing its presence in the Southeast waterworks market. This acquisition leverages Lanier's four decades of expertise, significantly boosting Core & Main's capabilities in delivering water, wastewater, storm drainage, and irrigation products. CEO Steve LeClair emphasized the strategic importance of this move for improving customer service and expanding market reach, while the integration of Lanier is projected to strengthen operational efficiency and customer relationships.
Core & Main (NYSE: CNM) is set to report its financial results for the third fiscal quarter and nine months ending October 30, 2022, on December 13, 2022, before market opens. A conference call and webcast will take place at 8:30 a.m. EST to discuss the results. Investors can access the live call via dial-in or through the website. The company provides products and services for water, wastewater, and fire protection systems with around 300 locations nationwide and a committed workforce of 4,100 associates.
Core & Main, Inc. (NYSE: CNM) announced a definitive agreement to acquire Lanier Municipal Supply Co. Inc., enhancing its distribution of water and wastewater products in the Southeast. This acquisition, which includes assets of Lanier, bolsters Core & Main's service capabilities and market presence. With over 40 years in the industry, Lanier is known for its strong customer relationships and local expertise. The strategic move aims to improve service delivery and infrastructure sustainability for waterworks customers.
Core & Main (NYSE: CNM) has finalized its acquisition of substantially all assets of Distributors, Inc., a leading distributor of fire protection products based in Hawaii. This strategic move aims to expand Core & Main's presence in the fire protection market. Leadership highlighted the importance of Distributors, Inc.’s local expertise and strong reputation, which will enhance customer service and product delivery across Hawaii. The acquisition is anticipated to strengthen operational capabilities and broaden Core & Main’s market reach.
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