Q4 2024 Earnings Summary
Metric | YoY Change | Reason |
---|---|---|
Total Revenue (Net Sales) | 18% increase (from $1,440M to $1,698M) | Total Revenue increased by 18% YoY driven by strong acquisitions and improved product demand, building on prior period momentum from technology adoption and volume gains that offset earlier pricing pressures. |
Pipes, Valves & Fittings | 21% increase (from $925M to $1,122M) | This segment’s revenue rose by roughly 21% YoY as acquisitions and higher end-market volumes boosted sales, a continuation of earlier trends where similar drivers helped counterbalance the slight decline in selling prices. |
Storm Drainage | 29% increase (from $202M to $261M) | The 29% YoY revenue jump was mainly due to targeted acquisitions and the accelerated adoption of advanced storm water management systems, reinforcing gains observed in previous periods with technology-driven volume improvements. |
Fire Protection | 19% decline (from $175M to $141M) | Fire Protection revenue fell by about 19% YoY as challenges of lower selling prices and declining end-market volumes persisted and even intensified compared to previous trends in the segment. |
Gross Profit | 17% increase (from $384M to $451M) | Gross Profit grew by 17% YoY due to increased sales volumes from acquisitions and improved end-market demand; however, margin pressures from slightly lower prices, similar to the effect seen in earlier quarters, partially offset these gains. |
Operating Income | 5% increase (from $116M to $124M) | Operating Income improved modestly by 5% YoY as a result of higher gross profit from volume and acquisition gains, although increases in SG&A and other operating expenses dampened the full benefit—a trend consistent with prior period performance. |
Net Income | 12% decline (from $76M to $67M) | Despite overall revenue growth, Net Income dropped by approximately 12% YoY due to significantly higher interest and income tax expenses combined with rising operating costs, contrasting with earlier operating margin improvements and emphasizing non-operational cost pressures. |
Research analysts covering Core & Main.