Core & Main, Inc (NYSE: CNM) reported Q2 EPS of $0.49, $0.03 worse than the analyst estimate of $0.52. Revenue for the quarter came in at $1.74 billion versus the consensus estimate of $1.72 billion.

GUIDANCE:

Core & Main, Inc sees FY2024 revenue of $7.5-7.6 billion, versus the consensus of $7.52 billion.

• "We are narrowing and raising our expectation for fiscal 2024 net sales and Adjusted EBITDA to reflect recent acquisitions and our first quarter performance," LeClair continued. "End market demand has been solid and we expect this to continue through the end of the year. We expect sales volume to more than offset slight price deflation in fiscal 2024, yielding low single-digit average daily sales growth excluding acquisitions. We expect the M&A we completed through today will contribute 7% to 8% of our net sales growth in fiscal 2024. Taken altogether, we now expect net sales to range from $7.5 to $7.6 billion, and we expect Adjusted EBITDA to range from $935 to $975 million. We are confident in our ability to continue delivering strong performance in 2024. Our business model, commitment to driving shareholder value and ability to successfully navigate changes in the macro environment position us well for the long-term."

For earnings history and earnings-related data on Core & Main, Inc (CNM) click here.