CNM - Core & Main Stock Slides As Q2 Results Fall Short Of Expectations Alters FY23 Guidance | Benzinga
Core & Main Inc (NYSE: CNM) reported second-quarter FY23 sales of $1.861 billion flat year-over-year, missing the consensus of $1.88 billion.
EPS decreased 4.3% Y/Y to $0.66, missing the consensus of $0.68.
Gross profit was flat at $501 million, with a gross margin of 26.9%. The operating margin contracted by 60 bps to 12.1%.
Operating cash flow for six months ended July 31, 2023, totaled $402 million, compared to cash used of $(60) million in 2Q22. The improvement was driven by ...