Core & Main, Inc. (NYSE: CNM), distributor of water, sewer, storm drain and fire protection products, announced its first-quarter sales increased 52% YOY to $1.59 billion.
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Profit rose from $27 million to $137 million.
“We delivered an extraordinary start to fiscal 2022, as we achieved strong growth in both net sales and Adjusted EBITDA. This marks our 25th consecutive quarter of average daily sales growth, with growth in the quarter being driven by strong demand across each of our end markets, higher average selling prices as we passed along rising material costs, execution of our sales initiatives to achieve market share gains and acquisition,” Core & Main CEO Steve LeClair said.