Core & Main Reports Q2 Beat & Updates Outlook
<p><a href='https://financialmodelingprep.com/financial-summary/CNM'>Core & Main, Inc. (NYSE:CNM)</a> reported its Q2 results, with EPS of $0.67 coming in better than the Street estimate of $0.50. Revenue was $1.86 billion, compared to the Street estimate of $1.67 billion.</p>
<p>Acquisitions added 5% to growth, in line with expectations. Adjusted EBITDA of $277 million significantly exceeded Street expectations as the upside in pricing flowed through to much higher gross margins (26.9%).</p>
<p>Along with the beat in the quarter, the company updated guidance for 2022, raising its top-line growth outlook to 26-32% (vs. prior mid-to-high teens) and increased its adjusted EBITDA guidance by 18% at the midpoint to $840-890 million (vs. prior $710-750 million), representing more than 40% year-over-year growth.</p>

NYSE:CNM