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    Core & Main (CNM)

    Q4 2024 Earnings Summary

    Reported on Jan 1, 1970 (Before Market Open)
    Pre-Earnings Price$50.69Last close (Mar 18, 2024)
    Post-Earnings Price$50.30Open (Mar 19, 2024)
    Price Change
    $-0.39(-0.77%)
    MetricYoY ChangeReason

    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.