secwatch.observer — SEC 8-K summary
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Issuer:     Core & Main, Inc. (CNM)
CIK:        0001856525
Form:       8-K
Filed at:   2024-09-04T23:59:59+00:00
Accession:  0001856525-24-000110
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Core & Main Q2 net income down 23%, EPS $0.61; sales up 5.5% to $1.96B
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- Net sales up 5.5% to $1,964M; net income down 23.2% to $126M; diluted EPS $0.61 (down 7.6%).
- Adjusted EBITDA decreased 4.8% to $257M; margin down 140 bps to 13.1%.
- Gross profit margin down 50 bps to 26.4%; SG&A up 12.6% to $268M driven by acquisitions.
- Acquired five businesses including HM Pipe Products (Canadian market entry); $500M share repurchase authorized.
- Meter initiative grew 48% YoY; project delays due to wet weather and lower end-market volumes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1856525/000185652524000110/0001856525-24-000110-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1856525/000185652524000110/cnm-20240904.htm
  HTML page:      https://secwatch.observer/filing/0001856525-24-000110

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer