Core & Main Stock Slides As Q2 Results Fall Short Of Expectations, Alters FY23 Guidance
Portfolio Pulse from Akanksha Bakshi
Core & Main Inc (NYSE: CNM) reported Q2 FY23 sales of $1.861 billion, missing the consensus of $1.88 billion. EPS decreased 4.3% Y/Y to $0.66, also missing the consensus of $0.68. The company also adjusted its FY23 outlook, narrowing its net sales estimate to $6.6 billion-$6.8 billion from the previous $6.6 billion -$6.9 billion. CNM shares are trading lower by 4.81% at $30.07.
September 06, 2023 | 1:36 pm
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Core & Main's Q2 FY23 results missed expectations, leading to a drop in share price. The company also adjusted its FY23 outlook, which could further impact investor sentiment.
Core & Main's Q2 FY23 results fell short of expectations, with both sales and EPS missing consensus estimates. This negative news has led to a drop in the company's share price. Additionally, the company adjusted its FY23 outlook, which could further impact investor sentiment and potentially lead to further price declines.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100