Core & Main Q1: $1.91B Sales, $0.57 EPS, $88M Buyback, Five New Sites
CNM•Core & Main posted Q1 net sales of $1.91 billion and diluted EPS of $0.57, marking net income growth of 7.6% to $113 million and a 9.6% EPS increase, narrowly missing consensus estimates. The distributor repurchased 1.8 million shares for $88 million, opened five greenfield locations and holds a trailing P/E of 22.34.
1. Q1 Financial Performance
Core & Main generated net sales of $1.91 billion in Q1, with net income rising 7.6% year-over-year to $113 million. Diluted EPS climbed 9.6% to $0.57 but fell just short of analyst consensus estimates.
2. Financial Ratios
The company’s trailing price-to-earnings ratio stands at 22.34, its debt-to-equity ratio at 1.20 and its current ratio at 2.31, highlighting moderate leverage and strong liquidity to support ongoing operations.
3. Capital Return and Expansion
During the quarter, Core & Main repurchased 1.8 million shares for $88 million and opened five new greenfield locations, reinforcing its market presence in water, wastewater and fire protection infrastructure.
4. Analyst Outlook
The stock retains an Overweight rating, reflecting positive sentiment on Core & Main’s strategic growth initiatives and its position in essential water infrastructure markets.
