Core & Main Q4 Results Miss Estimates; Guides FY22 Revenues Above View
(RTTNews) - Core & Main, Inc. (CNM), a distributor of water, wastewater, storm drainage and fire protection products, reported on Tuesday that net income attributable to the company for the fourth quarter grew to $54 million or $0.31 per share from $48 million or $0.28 per share last year.
Net sales for the quarter increased 10.3 percent to $1.37 billion from $1.25 billion in the same quarter last year, driven by higher selling prices and acquisitions, partially offset by a mid single-digit volume decline.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.50 per share on revenues of $1.65 billion for the quarter. Analysts' estimates typically exclude special items.
Looking ahead fiscal 2023, the company expects net sales between $6.455 billion and $6.875 billion. The Street is looking for revenues of $6.34 billion for the year.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Core & Main Boosts FY22 Outlook As Q2 Results Top Estimates
Asian Shares Rise As Nvidia Beats Expectations
U.S. Dollar Falls Amid Fed Rate Cut Speculation
Europe Car Sales Rebound In July
U.S. Dollar Falls Against Majors
European Shares Seen Higher At Open
Sensex Nifty Decline On Tariff Worries
