Core & Main (CNM) Stock

From a technical viewpoint, Core & Main (CNM) seems like a promising choice since it has hit an important support level. The company recently moved above the 200-day moving average, indicating a positive long-term trend.

SALT LAKE CITY, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Clene Inc. (Nasdaq: CLNN) and its subsidiary Clene Nanomedicine Inc., which is focused on innovative treatments for neurodegenerative diseases like ALS and MS, have announced that they received written advice from the U.S. Food and Drug Administration's Division of Neurology 1 (DN1) about a possible fast-track approval process for their drug CNM-Au8 ® in treating ALS.

I maintain a buy rating for CNM because of its impressive results in the third quarter of 2024, improved guidance for the full year, and a promising demand forecast for 2025. CNM reported $2.038 billion in revenue and $277 million in adjusted EBITDA for Q3 2024, surpassing expectations thanks to acquisitions and growth in volume. The positive outlook for 2025 is backed by good economic conditions, possible interest rate reductions, and more investments in infrastructure, even though there are some short-term challenges with margins.

Core & Main's Q3 2024 results were better than anticipated, showing an 11.5% increase in revenue to $2.04 billion and a rise in earnings per share from $0.65 to $0.69. Although the performance was strong, the mixed cash flow indicators and high stock valuation support a 'hold' rating. The management is focused on growth, having made 10 acquisitions this year, with a goal of achieving 2-4% annual revenue growth through both organic means and acquisitions.

Core & Main (CNM) shares jumped 15% on Tuesday after the company announced results that exceeded expectations and improved its forecast, thanks to recent acquisitions.

ST. LOUIS--(BUSINESS WIRE)--Core & Main has reported its highest-ever results for the third quarter of fiscal year 2024.

Core & Main, Inc. (CNM) will announce its earnings for the third quarter on Tuesday, December 3, before the market opens.

Core & Main, Inc. (NYSE:CNM) will hold its Q3 2024 Earnings Conference Call on December 3, 2024, at 9:00 AM ET. The call will feature company representatives including Robyn Bradbury, Steve LeClair, and Mark Witkowski, along with participants from various financial institutions. The operator will now begin the call, welcoming everyone to the Core & Main Q3 2024 Earnings Call.

ST. LOUIS--(BUSINESS WIRE)--Core & Main will reveal its financial results for the third quarter of fiscal year 2024.