Core & Main gains after upbeat quarterly profit, share buyback hike

Core & Main

09/12/2025 11:57

** Shares of water pipe distributor Core & Main CNM.N surge nearly 7.6% to about $54.4 premarket

     ** CNM beats Q3 profit estimates, driven by acquisitions and strong sales initiatives, despite soft residential demand

     ** Q3 adj. EPS of 89 cents, above analysts' estimate of 78 cents

     ** Q3 sales of $2.06 billion vs Wall St's estimate of $2.08 billion - data compiled by LSEG

     ** Co hikes share repurchase program by $500 million, bringing total authorization to $1 billion for Class A common stock

     ** 10 of 15 brokerages rate it "buy" or higher, four "hold" and one "sell"; median PT $61 - data compiled by LSEG

     ** As of last close, shares down 0.8% YTD

 (Reporting by Megavarshini G. Somasundaram in Bengaluru)

 ((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))