: Core & Main misses profit expectations, sees ‘pockets of softness’ in new projects


Shares of Core & Main Inc. CNM slumped 2.0% in premarket trading Wednesday, after the provider of water, storm drainage and fire protection products and services to contractors and municipalities missed fiscal second-quarter profit expectations and trimmed its full-year sales growth outlook, citing “pockets of weakness” in new projects. Net income for the quarter to July 30 slipped to $110 million, or 66 cents a share, from $115 million, or 67 cents a share, in the year-ago period, to miss the FactSet consensus for earnings per share of 67 cents. Sales were flat at $1.86 billion, in line with expectations, as acquisitions…

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