Core & Main: Performance In Q3 Was Impressive, All Things Considered, But With Limited Upside
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Daniel JonesInvesting Group LeaderFollow5ShareSavePlay(11min)CommentsSummaryCore & Main delivered a solid Q3 FY25, with revenue and earnings both exceeding analyst expectations.CNM's valuation appears fair, trading at a discount to most peers, but not cheap enough to warrant a bullish upgrade.Management reaffirmed FY25 guidance, highlighted multi-year infrastructure tailwinds, and expanded the share buyback program to $1 billion.I maintain a 'hold' rating on CNM, citing stable operations, strong municipal exposure, and ongoing capital returns, but limited near-term upside. Aleksandr Golubev/iStock via Getty Images To be honest with you, I was a little surprised on December 9th. Shares of Core & Main (CNM), a company that focuses on the distribution of pipes, valves, fittings, storm drainage products, fire protection products, andThis article was written byDaniel Jones35.97K FollowersFollowDaniel is an avid and active professional investor. He runs Crude Value Insights, a value-oriented newsletter aimed at analyzing the cash flows and assessing the value of companies in the oil and gas space. His primary focus is on finding businesses that are trading at a significant discount to their intrinsic value by employing a combination of Benjamin Graham's investment philosophy and a contrarian approach to the market and the securities therein. Learn more.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Recommended For You