Core & Main Subsides on Q1 Results
Core & Main, Inc. (NYSE: CNM) shares lost ground Tuesday. The company, a leading specialty distributor dedicated to advancing reliable infrastructure with local service, nationwide, today announced financial results for the first quarter ended May 4, 2025.
In that quarter, Net sales increased 9.8% to $1,911 million. Gross profit increased 9.0% to $510 million; gross profit margin was 26.7%
Net income increased 4.0% to $105 million. Diluted earnings per share increased 6.1% to $0.52
Adjusted EBITDA (Non-GAAP) increased 3.2% to $224 million. Net cash provided by operating activities of $77 million. The company also repurchased $39 million of shares at an average per share price of approximately $46.64
“We are proud to report another quarter of record performance that showcases the resilience of our end markets and the strength of our business model,” said CEO Mark Witkowski.
“With a broad range of products and services,” Witkowski is quoted in this morning’s news release, “Core & Main is uniquely positioned to capture the benefits of investments needed to address aging water infrastructure across the U.S. As the macro environment continues to evolve, I am confident in our team’s ability to adapt and maintain our focus on delivering the critical products and solutions valued by our customers and communities."
CNM shares $2.10, or 3.5%, to $57.18.
