CORE & MAIN Reports Profitable Q3 Results for FY2024

☀️Earnings Overview

On December 5 2023, CORE & MAIN ($NYSE:CNM) reported their earnings results for the third fiscal quarter of 2024, which was recorded as of October 31 2023. Total revenue for the quarter was USD 1827.0 million, showing a slight increase of 0.5% compared to the same period of the previous year. Additionally, net income rose by 0.9%, amounting to USD 112.0 million.

Stock Price

On Tuesday, CORE & MAIN reported their Q3 results for FY2024, and the news was positive. The stock opened at $35.2, and closed at $36.5, up by 1.0% from its last closing price of 36.1. This is a very promising result for the company, as it indicates that their efforts to increase profits have been successful. CORE & MAIN’s strong Q3 results were driven by their focus on diversifying their portfolio, expanding into new markets, and optimizing their operations. These efforts have allowed the company to achieve a solid increase in revenue, margins, and profits.

The impressive profitability is also a sign of the company’s strong financial health and stability. Overall, the results of CORE & MAIN’s Q3 performance demonstrate that their strategies for success are working. With the stock remaining strong, it seems more likely that the company will be able to sustain its positive performance for the rest of the fiscal year as well. 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

GoodWhale has performed an analysis of CORE & MAIN’s financials, and the results are very positive. Our Star Chart shows that CORE & MAIN is strong in growth, medium in asset, profitability and weak in dividend. This company has a high health score of 8/10 considering its cashflows and debt, which means it is capable to pay off debt and fund future operations. Based on our analysis, we have categorized CORE & MAIN as a ‘rhino’ type of company, which implies that it has achieved moderate revenue or earnings growth. Considering the financial strength of CORE & MAIN, this company could be an attractive investment for a variety of investors. The company’s strong cashflows and debt-paying capacity make it an attractive option for conservative investors. For those investors looking for moderate or steady growth, CORE & MAIN could be a good option as well. Finally, the company’s ability to pay off debt and fund future operations make it an attractive option for those seeking long-term growth potential. 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 reported impressive earnings for Q3 FY2024, with total revenue of USD 1827.0 million and net income of USD 112.0 million. Both revenue and net income increased 0.5% and 0.9%, respectively, year over year. This signals that CORE & MAIN has continued to experience steady growth and indicates potential for investors looking for a reliable and consistent return on their investments. With a track record of solid financial performance, CORE & MAIN is an attractive option for investors seeking a long-term commitment.