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Jan 30, 2022
Core & Main Q4 2021 Earnings Report
Core & Main reported strong Q4 results driven by increased net sales and improved profitability.
Key Takeaways
Core & Main announced exceptional results for the fourth quarter of fiscal year 2021, with a 50% increase in net sales and a significant rise in net income. The company attributes its success to strong demand across end markets, higher average selling prices, and effective sales initiatives.
Net sales increased by 50% to $1,246 million.
Gross profit margin improved by 170 basis points to 26.2%.
Net income increased to $79 million.
Adjusted EBITDA increased by 113% to $151 million.
Forward Guidance
Core & Main expects net sales to grow in the high single to low double-digit range and Adjusted EBITDA to be in the range of $595 million to $635 million for fiscal year 2022.
Positive Outlook
- Positive underlying market tailwinds
- Strong growth expected in the first half of the year
- Continued investment in value-creating growth opportunities
- Deepening competitive advantage
- Building on foundation of long-term, profitable growth
Challenges Ahead
- Growth moderating in the second half with more difficult comparisons
- Outlook includes only acquisitions that have already closed
- Unpredictable impact on future GAAP financial results
- Variability of excluded items may have a potentially significant impact
Historical Earnings Impact
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Avg. Return Before/After Earnings
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