CORE & MAIN Reports Q1 Earnings for FY2024 on April 30, 2023

🌥️Earnings Overview

CORE & MAIN ($NYSE:CNM) reported their Q1 FY2024 earnings on April 30, 2023. Total revenue was USD 1574.0 million, a decrease of 1.5% from the same quarter of the prior year. Net income stayed the same at USD 86.0 million compared to the same period last year.

Stock Price

The stock opened at $28.0 and closed at $28.1, up by 3.4% from prior closing price of 27.2. This marked a significant increase for the company, indicating continued success and progress for the year ahead. CORE & MAIN has reported strong growth in the past year, with a steady increase in quarterly earnings since the beginning of FY2024. Their impressive performance has been reflected in their stock price as well, with a steady rise over the last several quarters. Investors are optimistic that the company will continue to grow, as they have shown an ability to capitalize on opportunities in the marketplace. The company has attributed their success to their innovative approach to business, as well as their ability to capitalize on emerging trends and technologies.

They have made significant investments in research and development, which allows them to stay ahead of the competition and remain competitive in the market. They have also invested heavily in marketing and advertising efforts to ensure that their products and services remain top-of-mind for their consumers. Overall, the Q1 earnings report from CORE & MAIN was very positive and indicates that the company is on track to have another successful year. With strong growth and profits expected to continue, investors should be bullish on CORE & MAIN’s future prospects. 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

At GoodWhale, we recently conducted an analysis of CORE & MAIN’s financials. The results show that CORE & MAIN is a high risk investment. Our Risk Rating system has detected two warning signs in their balance sheet and cashflow statement. If you would like to get a better understanding of these risks, please register with us and we will provide you with the full analysis. Keep in mind that this information should be used as part of a larger process to make an informed decision about potential investments. 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 their earnings for Q1 of FY2024 on April 30 2023, with total revenue of USD 1574.0 million, a decrease of 1.5% compared to the same quarter of the prior year. Despite this, net income remained steady at USD 86.0 million unchanged year over year. On the same day their stock price moved up, indicating some investor optimism in the company despite the overall revenue decrease. Investors should keep an eye on CORE & MAIN’s financial performance over the coming quarters to see if their revenue growth will be affected by the decreased revenue in Q1 and if their stock price will be affected.