Core & Main reports record Q1: net sales up 52% to $1.6B; Adj EBITDA up 101% to $219M

Core & Main, Inc.

2022-Q1 EPS reported $0.50 revenue$1,598,000,000

Net sales $1,598M (+52% YoY); gross margin 26.3% (+200 bps); net income $137M vs $27M.
Adjusted EBITDA $219M (+101%); margin 13.7% (+340 bps); net debt leverage improved to 2.2x.
Raising FY2022 Adj EBITDA guidance to $710-750M (18-24% YoY growth).
Closed acquisitions of Dodson Engineered Products and Lock City Supply; signed Earthsavers deal.
25th consecutive quarter of average daily sales growth; strong demand across end markets.

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