By Connor Hart
Core & Main logged higher profit and earnings in its fiscal first quarter, prompting the company to back its full-year outlook.
The St. Louis-based distributor of water-related infrastructure products on Tuesday posted a profit of $105 million for its three months ended May 4, up slightly from $101 million in the same period a year earlier.
Earnings were 52 cents a share, in line with the consensus estimate of analysts surveyed by FactSet.
Revenue increased 9.8% to $1.91 billion. Analysts had modeled sales of $1.84 billion.
The company attributed its top-line growth to higher volumes and acquisitions. Increased sales of products including pipes, valves and fittings more than offset sales of fire-protection products, which fell year over year.
For the year, Core & Main backed its forecast for adjusted Ebitda--or earnings before interest, taxes, depreciation and amortization--of $950 million to $1 billion, as well as sales of $7.6 billion to $7.8 billion.
Wall Street expects adjusted Ebitda of $981.4 million and sales of $7.73 billion.
"As the macro environment continues to evolve, I am confident in our team's ability to adapt and maintain our focus on delivering the critical products and solutions valued by our customers and communities," Chief Executive Mark Witkowski said.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
June 10, 2025 07:57 ET (11:57 GMT)
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