Core & Main Misses Q4 Earnings Estimates, Changes Leadership As Sales Reach $1.7 Billion

On Tuesday, Core & Main Inc. (NYSE:CNM) reported fourth-quarter earnings of 33 cents per share, missing the consensus of 36 cents.

Net sales increased 17.9% year over year to $1.69 billion, almost in line with the consensus estimate of $1.67 billion.

Net sales increased primarily due to acquisitions and higher volume. They were partially offset by slightly lower selling prices.

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Gross profit for the quarter increased $67 million, or 17.4%, to $451 million, with a margin of 26.6% ...