Core & Main, Inc (NYSE: CNM) reported Q3 EPS of $0.61, $0.13 worse than the analyst estimate of $0.74. Revenue for the quarter came in at $1.96 billion versus the consensus estimate of $2.06 billion.

Fiscal 2024 Outlook:

"We are revising our outlook for fiscal 2024 to reflect significant weather disruptions in the second quarter and our expectation that some of the growth we anticipated in the second half of the year will likely be pushed into 2025," LeClair said. "Pricing and gross margins have sustained well and are in line with our expectations through the first half of the year. As a result of lower-than-expected end market volumes, we are lowering our full year net sales range to $7.3 to $7.4 billion and are lowering our full year Adjusted EBITDA range to $900 to $930 million. We are raising our operating cash flow conversion range to 65% to 75% of Adjusted EBITDA as a result of our disciplined working capital management. While weather and market softness are impacting this year's results, we remain optimistic about the long-term demand characteristics of our end markets and are focused on executing against our long-term strategy as we manage through near-term macro dynamics.

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