Stock Track | Core & Main Soars 8.89% in Pre-Market on Strong Q3 Earnings and Share Buyback Expansion

Stock Track12-09 20:38

Core & Main, Inc. (CNM) surged 8.89% in pre-market trading following the release of its fiscal Q3 results, which included an adjusted EPS of $0.89, beating the consensus estimate of $0.76. The company reported net sales of $2.062 billion, slightly below expectations, but highlighted strong gross profit growth of 3.3% to $561 million.

The stock's rally was further fueled by Core & Main's announcement of a $500 million increase to its share repurchase program, bringing the total authorization to $1 billion. The company also reaffirmed its full-year fiscal 2025 outlook, projecting net sales of $7.6 billion to $7.7 billion and adjusted EBITDA of $920 million to $940 million, signaling confidence in its financial trajectory.

Investors responded positively to the dual catalysts of earnings outperformance and enhanced shareholder returns, driving pre-market gains. The repurchase expansion underscores Core & Main's robust cash flow and commitment to capital allocation.

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