Core & Main Expects 2024 Net Sales Of $7.4B-$7.6B Vs. $7.15B Consensus; Sees Adjusted EBITDA Of $925M-$975M
Portfolio Pulse from Benzinga Newsdesk
Core & Main (CNM) projects its fiscal 2024 net sales to be between $7.4B and $7.6B, surpassing the consensus of $7.15B. The company also forecasts its adjusted EBITDA to be in the range of $925M to $975M. These expectations are based on improved end market volumes, contributions from mergers and acquisitions, and initiatives in product, customer, and geographic expansion. Core & Main anticipates a stable price contribution and a slight gross margin improvement.
March 19, 2024 | 11:34 am
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Core & Main expects fiscal 2024 net sales of $7.4B-$7.6B, exceeding consensus estimates, with adjusted EBITDA of $925M-$975M, indicating strong future performance.
Core & Main's projection of higher than expected net sales and adjusted EBITDA for fiscal 2024 suggests a positive outlook for the company. This is attributed to improved market conditions, successful mergers and acquisitions, and strategic expansion efforts. The company's anticipation of stable price contributions and slight gross margin improvements further supports the expectation of a strong financial performance. These factors combined make the news highly relevant and important for investors, with a high confidence level in the analysis.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100