Infrastructure Firm Core & Main's Stock Drops After Results Miss Estimates, Outlook Cut
Shares of Core & Main (CNM), which supplies pipes for water, wastewater and other uses, posted worse-than-expected results and cut its outlook after it said bad weather and economic conditions affected sales.
Core & Main, Inc. (CNM) Q2 2024 Earnings Call Transcript
Core & Main, Inc. (NYSE:CNM ) Q2 2024 Earnings Call Transcript September 4, 2024 8:30 AM ET Company Participants Robyn Bradbury - IR Steve LeClair - Chair and CEO Brad Cowles - President Mark Witkowski - CFO Conference Call Participants Kathryn Thompson - Thompson Research Group Dave Manthey - Baird Matthew Bouley - Barclays Nigel Coe - Wolfe Research Joe Ritchie - Goldman Sachs Mike Dahl - RBC Capital Markets Anthony Pettinari - Citi Patrick Baumann - JPMorgan David Ridley-Lane - Bank of America Operator Hello and welcome to the Core & Main Q2 2024 Earnings Call. My name is Alex and I'll be coordinating the call today.
Why Core & Main Stock Is Down Big Today
Core & Main's results fell short of expectations. The company blamed weather delays for some of the miss, lowering full-year guidance.
Core & Main (CNM) Lags Q2 Earnings and Revenue Estimates
Core & Main (CNM) came out with quarterly earnings of $0.61 per share, missing the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.66 per share a year ago.
Core & Main's stock drops 13% as earnings and revenue fall short
Core & Main Inc.'s stock fell about 13% on Wednesday after the St. Louis-based water, wastewater and drainage-supply distributor's earnings fell short of analyst estimates and warned that “significant weather disruptions” have impacted its business.
Core & Main to Report Q2 Earnings Results: What's in the Offing?
Significant improvement in the residential and non-residential revenues is anticipated to have benefited CNM's second-quarter fiscal 2024 revenues.
Core & Main (CNM) Ascends While Market Falls: Some Facts to Note
In the most recent trading session, Core & Main (CNM) closed at $53.71, indicating a +1.59% shift from the previous trading day.
Wall Street Analysts See Core & Main (CNM) as a Buy: Should You Invest?
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
Core & Main (CNM) Declines More Than Market: Some Information for Investors
The latest trading day saw Core & Main (CNM) settling at $50.55, representing a -0.69% change from its previous close.
Core & Main (CNM) Stock Drops Despite Market Gains: Important Facts to Note
In the latest trading session, Core & Main (CNM) closed at $49.78, marking a -1.13% move from the previous day.
Core & Main (CNM) Stock Drops Despite Market Gains: Important Facts to Note
Core & Main (CNM) closed the most recent trading day at $47.53, moving -0.65% from the previous trading session.
Core & Main (CNM) Stock Slides as Market Rises: Facts to Know Before You Trade
Core & Main (CNM) closed at $53.49 in the latest trading session, marking a -0.07% move from the prior day.
