Tue, Jun 10, 11:34 AM (34 days ago)
Core & Main, Inc. (CNM) reported a strong Q1 2025, with net sales increasing by 9.8% to $1,911 million, driven by higher volumes and acquisitions. Gross profit rose by 9.0% to $510 million, with a slight decrease in gross margin due to higher inventory costs, partially offset by margin initiatives and accretive acquisitions. Operating income increased by 1.8% to $171 million, despite higher SG&A and D&A expenses. Net income grew by 4.0% to $105 million, with a 5.3% increase in net income attributable to Core & Main, Inc. Earnings per share (EPS) saw an 8.2% increase in basic EPS to $0.53 and a 6.1% increase in diluted EPS to $0.52. Adjusted EBITDA increased by 3.2% to $224 million. The company's liquidity remains strong, with $8 million in cash and cash equivalents and $1,135 million available under the Senior ABL Credit Facility. Core & Main continues to focus on strategic acquisitions and operational efficiency to drive growth and maintain financial health. The company faces uncertainties related to market conditions, interest rates, and regulatory changes, but remains optimistic about its future operations and growth prospects.