earnings
confidence high
sentiment positive
materiality 0.70
Core & Main posts record Q3 sales $2,038M (+11.5%), Adj EBITDA $277M (+6.5%)
Core & Main, Inc.
2024-Q3 EPS reported
$1.79
revenue$5,743,000,000
- Net sales $2,038M (+11.5% YoY); gross profit margin 26.6% (down from 27.0%) on prior-year inventory benefits.
- Diluted EPS $0.69 (+6.2% YoY); net income $140M (-11.4%) due to higher interest and tax expense.
- Adjusted EBITDA $277M (+6.5%); margin 13.6%; strong organic volume growth and M&A contributions.
- Completed five bolt-on acquisitions: HM Pipe Products, GroGreen Solutions, Green Equipment Co., Eastcom Associates, ARGCO Northeast.
- Repurchased 2.46M shares for $100M during the quarter, reflecting confidence in outlook.