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Feb 02, 2025
Core & Main Q4 2024 Earnings Report
Core & Main delivered strong fourth quarter results with increased revenue and gross profit, despite a decrease in net income due to higher interest and tax expenses.
Key Takeaways
Core & Main reported Q4 2024 net sales of $1.698 billion, a 17.9% increase year-over-year. Gross profit rose to $451 million with a margin of 26.6%. Operating income reached $124 million, up 6.9%. However, net income fell 11.8% to $67 million, impacted by higher interest and tax expenses. Diluted EPS came in at $0.33.
Net sales grew 17.9% year-over-year to $1.698 billion.
Gross profit increased 17.4% to $451 million with a margin of 26.6%.
Net income declined 11.8% to $67 million due to higher expenses.
Diluted EPS decreased 2.9% to $0.33.
Forward Guidance
Core & Main anticipates fiscal 2025 net sales between $7.6 billion and $7.8 billion, with adjusted EBITDA ranging from $950 million to $1 billion and operating cash flow between $570 million and $650 million.
Positive Outlook
- Expected net sales growth of 2% to 5% for fiscal 2025.
- Average daily sales growth forecast of 4% to 7%.
- Planned adjusted EBITDA margin of 12.5% to 12.8%.
- Continued expansion in product, customer, and geographic reach.
- Strong expected operating cash flow generation in fiscal 2025.
Challenges Ahead
- Flat to slightly positive industry demand expected in fiscal 2025.
- Higher interest expense may continue impacting net income.
- Inflationary cost impacts expected to persist.
- Increased tax expense allocation anticipated.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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