Core & Main Q3 net sales up 29% to $1.82B; raises FY2022 adjusted EBITDA guidance to $910-930M

Core & Main, Inc.

2022-Q3 EPS reported $1.82 revenue$5,277,000,000

Net sales $1,818M (+29.4% YoY); net income $178M (+63.3%); adjusted EBITDA $275M (+45.5%).
Gross profit margin improved 110 bps to 27.5%; adjusted EBITDA margin improved 160 bps to 15.1%.
Raised FY2022 adjusted EBITDA outlook to $910-930M (51-54% YoY growth).
Closed four acquisitions in quarter (Inland Water Works, Trumbull, Distributors Inc., Lanier Municipal) and opened Fort Collins location.
Net debt leverage improved to 1.7x; total liquidity $1,151M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Core & Main, Inc. reported third fiscal quarter ended October 30, 2022 results: revenue $1,818 million, net income $178 million. Guidance raised.

Period: third fiscal quarter ended October 30, 2022
Revenue: $1,818 million
Net income: $178 million
Guidance: raised
Result: reported results

Exact text from the filing

Fiscal 2022 Third Quarter Highlights (Compared with Fiscal 2021 Third Quarter) • N et sales increased 29.4% to $1,818 million • Gross profit margin increased 110 basis points to 27.5% • Net income increased 63.3% to $178 million • Adjusted EBITDA (Non-GAAP) increased 45.5% to $275 million • Adjusted EBITDA margin (Non-GAAP) increased 160 basis points to 15.1% • Net cash provided by operating activities increased $121 million to $154 million • Net Debt Leverage (Non-GAAP) declined to 1.7x as of October 30, 2022 • Closed four acquisitions d uring and subsequent to the quarter: Inland Water Works Supply Co., the municipal waterworks division of Trumbull Industries and an affiliated entity (collectively "Trumbull"), Distributors, Inc. and Lanier Municipal Supply Co. • Opened a new location in Fort Collins, Colorado • Raising expectation for fiscal 2022 Adjusted EBITDA to be in the range of $910 to $930 million, representing year-over-year growth of 51% to 54%

View on SEC.gov

Browse all earnings releases →

Core & Main, Inc. filing history →

Source: SEC EDGAR

accession 0001856525-22-000052

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.