Core & Main Inc is a leading distributor of water, wastewater, storm drainage, and plumbing products
The company serves a diverse customer base, including municipalities, contractors, and industrial clients, providing them with essential infrastructure solutions for managing water resources and ensuring efficient delivery and drainage systems. Core & Main focuses on enhancing its service offerings through a combination of product expertise and a broad inventory, positioning itself as a reliable partner in the construction and maintenance of critical water infrastructure projects across the United States.
Even if they go mostly unnoticed, industrial businesses are the backbone of our country. Unfortunately, this role also comes with a demand profile tethered to the ebbs and flows of the broader economy,
and the industry is currently lagging as its six-month return of 4.5% has trailed the S&P 500’s 9% gain.
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Watsco (NYSE:WSO) and the best and worst performers in the infrastructure distributors industry.
As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the infrastructure distributors industry, including Core & Main (NYSE:CNM) and its peers.
As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the infrastructure distributors industry, including DistributionNOW (NYSE:DNOW) and its peers.
Since July 2024, Core & Main has been in a holding pattern, posting a small return of 3.5% while floating around $51.18. This is close to the S&P 500’s 4.8% gain during that period.
Looking back on infrastructure distributors stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including MRC Global (NYSE:MRC) and its peers.
Shares of water and fire protection solutions company Core & Main (NYSE:CNM)
jumped 15.4% in the afternoon session after the company reported impressive third-quarter financial results. Core & Main exceeded analysts' revenue and EBITDA expectations. In addition, full-year revenue guidance was raised, and full-year EBITDA guidance came in ahead of expectations, which is a sign of a healthy business. Overall, we think this was a strong quarter.
Water and fire protection solutions company Core & Main (NYSE:CNM) reported revenue ahead of Wall Street’s expectations in Q3 CY2024, with sales up 11.5% year on year to $2.04 billion. The company’s full-year revenue guidance of $7.4 billion at the midpoint came in 0.9% above analysts’ estimates. Its GAAP profit of $0.69 per share was in line with analysts’ consensus estimates.
U.S. stocks paused for a breather Tuesday, with major equity indices hovering near the flatline as investors digested global developments, including China’s ban on key raw material exports to the U.S.
Water and fire protection solutions company Core & Main (NYSE:CNM)
will be reporting results tomorrow before market hours. Here’s what you need to know.
What a brutal six months it’s been for Core & Main. The stock has dropped 31.7% and now trades at $42.36, rattling many shareholders. This was partly driven by its softer quarterly results and may have investors wondering how to approach the situation.
