Core & Main, a leading distributor of infrastructure solutions, reported a 17.9% increase in net sales in Q4 FY 2024.
Sales and Profit Growth
Core & Main recorded a rise in net sales to $1.698 billion, driven by well-executed acquisitions and volume increases. However, fire protection products saw a decrease due to lower prices and market volumes. Gross profit increased to $451 million with a slight margin dip to 26.6%.
Comparison with Market Expectations
Core & Main's Q4 results fell short of analysts' expectations for earnings per share, recording $0.33 versus the expected $0.3621. This is attributed to decreased net income and a higher share count after buybacks. Nonetheless, revenue reached $1.698 billion, exceeding forecasts.
Projections for Next Year
Looking ahead, Core & Main projects revenue between $7.6 billion and $7.8 billion in 2025. The company expects adjusted EBITDA to range from $950 million to $1 billion and plans to focus on expanding product offerings and geographic reach.
Core & Main continues to move forward confidently, despite changes in the economic environment. The company is focused on maintaining growth and increasing shareholder value.
