Core & Main Reports Better Than Expected Q4 Results

Core & Main, Inc (NYSE: CNM) reported its Q4 results, with EPS of $0.65 coming in better than the Street estimate of $0.55. Revenue was $1.82 billion, beating the Street estimate of $1.69 billion.

The company's CEO Steve LeClair stated that although the company experienced a 50% increase in net sales during the same period last year, they expect to maintain strong performance in the fourth quarter. This is due to the expected resilience of demand, supported by a balanced business mix and the implementation of growth initiatives. As a result, they are raising their expectation for adjusted EBITDA for fiscal 2022 to be between $910 million and $930 million, representing a year-over-year growth of 51% to 54%.