The results surpassed the 53 cents a share predicted by analysts. Revenue held steady at $1.91 billion, defying forecasts of a slight dip to $1.89 billion. Chief Executive Mark Witkowski attributed the resilience to steady repair-and-replace work alongside gains in smart utility sales and treatment plant solutions. Looking ahead, the company reaffirmed its annual outlook, projecting net sales between $7.8 billion and $7.9 billion, which would represent a 2% to 3% growth trajectory for the full year.
In section Market Quotes
Core & Main Profit Climbs on Municipal Infrastructure Demand
Sturdy municipal demand for water infrastructure projects fueled a profit increase for Core & Main in the first quarter, allowing the distributor to outperform earnings expectations despite a stagnant sales environment. The company reported net income of $108 million, or 57 cents a share, for the period ending May 3.
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