Core & Main Q1 adj EBITDA +0.5% to $220M; raises FY23 guidance

Core & Main, Inc.

2023-Q1 EPS reported $0.50 revenue$1,574,000,000

Net sales $1,574M (-1.5% YoY); gross margin 27.9% (+160 bps) driven by price increases and acquisitions.
Adjusted EBITDA $220M (+0.5% YoY); margin 14.0% (+30 bps) a Q1 record.
Raised FY23 guidance: net sales $6.6-6.9B, adj EBITDA $820-880M; demand improving since late April.
Executed $332M share repurchase (15M shares); closed 3 acquisitions, signed 4th post-quarter.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Core & Main, Inc. reported the first quarter ended April 30, 2023 results: revenue $1,574 million, net income $133 million, EPS $0.50. Guidance raised.

Period: the first quarter ended April 30, 2023
Revenue: $1,574 million
Net income: $133 million
EPS: $0.50
Guidance: raised
Result: reported results

Exact text from the filing

financial results for the first quarter ended April 30, 2023. Fiscal 2023 First Quarter Highlights (Compared with Fiscal 2022 First Quarter) • Net sales decreased 1.5% to $1,574 million but increased 49.2% compared with the first quarter of fiscal 2021 • Gross profit margin increased 160 basis points to 27.9% • Net income decreased 2.9% to $133 million •

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Source: SEC EDGAR

accession 0001856525-23-000031

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