2024-03-20 09:00:43 ET
Summary
- Core & Main, Inc. reported strong financial results for Q4 of its 2023 fiscal year, with revenue exceeding forecasts and strong sales guidance for 2024.
- The company has achieved consistent growth through organic growth and acquisitions, with sales, profits, and cash flows climbing.
- Despite recent stock price appreciation, the company is likely fairly valued and a "hold" rating is appropriate at this time.
March 19th ended up being a fantastic day for shareholders of Core & Main, Inc. ( CNM ). Shares closed up 7.5% after management reported financial results for the final quarter of the company's 2023 fiscal year. Although the business fell short of analysts’ expectations when it came to earnings per share, revenue exceeded forecasts and management came out with strong sales guidance for 2024....
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Core & Main Pops Higher On Earnings, But Further Upside Is Unlikely