Core & Main: Demand Outlook For FY25 Is Positive
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Core & Main (CNM) has been given a buy rating due to strong Q3 2024 results, upgraded FY24 guidance, and a positive demand outlook for FY25. The company's Q3 2024 revenue and adjusted EBITDA exceeded expectations, driven by acquisitions and volume growth. The positive FY25 outlook is supported by favorable macroeconomic conditions, potential interest rate cuts, and increased infrastructure investments, despite short-term margin pressures.
December 05, 2024 | 10:00 am
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POSITIVE IMPACT
Core & Main's strong Q3 2024 results and upgraded FY24 guidance, along with a positive demand outlook for FY25, support a buy rating. Revenue and EBITDA exceeded expectations due to acquisitions and volume growth.
The strong Q3 2024 results, including revenue and EBITDA exceeding expectations, indicate robust performance. The upgraded FY24 guidance and positive FY25 outlook, supported by macroeconomic conditions and infrastructure investments, suggest continued growth potential, justifying a buy rating.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100