CORE & MAIN Reports FY2024 Q2 Earnings Results as of July 31 2023

🌥️Earnings Overview

CORE & MAIN ($NYSE:CNM) revealed their financial results for the second quarter of FY2024, ending on July 31 2023, on September 6 2023. Revenues remained flat year-over-year at USD 1861.0 million; however net income declined by 4.3%, standing at USD 110.0 million compared to the same period in the prior year.

Price History

On Wednesday, CORE & MAIN reported their fiscal year 2024 second quarter earnings results. Stock for the company opened at $31.0 and closed at $29.5, a decrease of 6.6% from its previous closing price of $31.6. This marks the third consecutive quarter of decline in the company’s stock price.

Despite the weak performance of their stock, CORE & MAIN is expecting strong growth in the upcoming quarters due to their focus on new product development and increased customer outreach. They are also working to expand their market share by investing in strategic partnerships with other key industry players. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for CNM. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for CNM. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for CNM. More…

Key Ratios Snapshot

Some of the financial key ratios for CNM are shown below. More…

Analysis

As GoodWhale, we have done a thorough analysis of CORE & MAIN’s financials to provide investors with a more comprehensive view of the company’s risk profile. After conducting an in-depth assessment of CORE & MAIN’s financial statements, we have determined that it is a high risk investment. Our risk rating for CORE & MAIN is reflective of the fact that it has two risk warnings from our analysis of its balance sheet and cash flow statement. As a registered user, you can access more detailed information regarding our assessment of CORE & MAIN. More…

Peers

The competitive landscape in the water supply and sewerage construction sector is heating up with Core & Main Inc vying for dominance against its rivals DXP Enterprises Inc, Reece Ltd, and Water Supply Sewerage Construction and Investment JSC. All four companies are engaged in a fierce battle to secure the top spot, with each striving to deliver the best products and services to their customers.

– DXP Enterprises Inc ($NASDAQ:DXPE)

DDD Enterprises Inc is a leading multinational company that specializes in the production and distribution of industrial products. With a market cap of 486.01M as of 2022 and a Return on Equity of 12.81%, the company is well-positioned to remain a formidable player in the industry. The market cap of DDD Enterprises Inc reflects its size, financial strength and market presence, and the high ROE indicates that the company is able to generate good returns on the capital it invests. DDD Enterprises Inc is committed to providing innovative solutions to its customers, and its strong market position makes it an attractive partner for investors.

– Reece Ltd ($ASX:REH)

Reece Ltd is an Australian distributor of plumbing and bathroom products. The company has a market cap of 9.46B as of 2022, which indicates its strong presence in the market and the trust its customers have in the company. It also has a Return on Equity of 11.05%, which indicates that the company is performing well financially and generating returns for its investors.

Summary

CORE & MAIN recently released their second quarter earnings results for FY2024, with total revenue remaining flat from the same period last year. Net income however decreased by 4.3%, causing the stock price to drop the same day. Investors may want to consider re-evaluating their positions in the company, in light of the lower earnings. Additional analysis should be done including a review of the company’s financials, future outlook, and competitive landscape, before investing in CORE & MAIN.