Core & Main Narrows Its FY23 Outlook, Now Expects Net Sales Of $6.6B-$6.8B (Prior $6.6B-$6.9B) Vs. $6.76B Estimate; Adjusted EBITDA Of $850M-$880M
Portfolio Pulse from Benzinga Newsdesk
Core & Main has revised its FY23 outlook, now expecting net sales to be between $6.6B and $6.8B, down from the previous range of $6.6B to $6.9B. The company also expects its Adjusted EBITDA to be between $850M and $880M. The changes are due to results to date and pockets of softness for new non-residential project starts in select markets.
September 06, 2023 | 11:37 am
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Core & Main's revised FY23 outlook could potentially impact its stock price. The company has lowered its net sales and Adjusted EBITDA expectations due to current results and market conditions.
Core & Main's revised FY23 outlook indicates a potential decrease in net sales and Adjusted EBITDA, which could negatively impact investor sentiment and lead to a decrease in the company's stock price.
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