Core & Main Inc. (NYSE: CNM), a specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, reported sales for the third quarter were up 29.4% to $1.8 billion.
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Profit was up 63.3% to $178 million for the period.
Core & Main closed four acquisitions during and subsequent to the quarter: Inland Water Works Supply Co., the municipal waterworks division of Trumbull Industries and an affiliated entity, Distributors, Inc. and Lanier Municipal Supply Co. The company also opened a new location in Fort Collins, Colo., and extended its offerings in northern Colorado and southern Wyoming.
Sales for the nine months ended Oct. 30, 2022, went up 40.4% to $5.3 billion. The increase in sales was primarily attributable to price inflation, volume growth and acquisitions, with price inflation representing approximately three-fourths of the net sales increase.
