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I downgraded Core & Main to hold due to macro uncertainty and a soft FY25 outlook, despite Q4-24 results being in line. Organic growth stalled with just 1.5% y/y in Q4-24; FY25 revenue guidance implies only 2-5% growth, significantly lower than FY24's 11%. Elevated SG&A costs from recent acquisitions hinder margin expansion, making earnings growth reliant on cost reductions, which seems unlikely.
Core & Main, Inc. (NYSE:CNM ) Q4 2024 Earnings Conference Call March 25, 2025 8:30 AM ET Company Participants Robyn Bradbury - SVP of Finance, IR Steve LeClair - Chair and CEO Mark Witkowski - CFO Conference Call Participants David Manthey - Baird Joe Ritchie - Goldman Sachs Nigel Coe - Wolfe Research Patrick Baumann - JPMorgan Brian Biros - Thompson Research Group Operator Hello, and welcome to the Core & Main Q4 2024 Earnings Call. My name is Alex, and I'll be coordinating the call today [Operator Instructions].
U.S. stocks traded mixed this morning, with the Nasdaq Composite gaining around 0.1% on Tuesday.
Core & Main (CNM) came out with quarterly earnings of $0.33 per share, missing the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.34 per share a year ago.
On Tuesday, Core & Main Inc. CNM reported fourth-quarter earnings of 33 cents per share, missing the consensus of 36 cents.
ST. LOUIS--(BUSINESS WIRE)--Core & Main Announces Fiscal 2024 Fourth Quarter and Full-Year Results.
ST. LOUIS--(BUSINESS WIRE)--Core & Main Announces Leadership Transition.
Core & Main, Inc. CNM will release its first-quarter financial results, before the opening bell, on Tuesday, March 25.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
In the latest trading session, Core & Main (CNM) closed at $48.27, marking a -0.49% move from the previous day.