Fiscal 2023 Third Quarter Results DECEMBER 5, 2023 Cautionary Note Regarding Forward-Looking Statements In addition to providing results that are determined in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"), we present EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, Operating Cash Flow Conversion and Net Debt Leverage, all of which are non-GAAP financial measures. These measures are not considered measures of financial performance or liquidity under GAAP and the items excluded there ...

财务数据和关键指标变化 - 第三季度销售额略高于上年同期,较2021年第三季度增长30% [6] - 毛利率较上年同期下降50个基点,主要是由于库存成本跟上了当前市场价格 [9] - 销售、一般及管理费用同比增加4%,主要受并购影响和成本通胀影响 [27] - 利息费用同比增加,主要是无抵押贷款利率上升 [27] - 净利润同比下降,主要是由于营业利润下降 [28] - 调整后EBITDA同比下降约5%,调整后EBITDA利润率下降90个基点至14.2% [29] - 经营活动现金流表现出色,达到调整后EBITDA的140%以上 [30] - 净债务率为1.5倍,流动性充足 [31] 各条业务线数据和关键指标变化 - 市政维修和更换业务同比保持稳定 [7] - 新住宅开发有所改善,但仍低于上年同期水平 [7] - 非住宅业务在第三季度末趋于稳定,其中公路和街道项目表现强劲,抵消了多户家庭和仓储建设的疲软 [8] 各个市场数据和关键指标变化 - 价格贡献对净销售额的影响在第三季度保持平稳 [8] - 联邦基础设施投资法案(IIJA)资金的拨付进度较预期缓慢,但在中西部某些州已开始启动相关项目 [88] 公司战略和发展方向及行业竞争 - 公司继续通过内生增长和并购实现增长,在本年度已完成8起并购,年化净销售额超过3.3亿美元 [12][14-17] - 公司未来几年每年计划通过并购带来2%-4%的净销售额增长 [20] - 公司还将通过提升私有品牌占比、优化采购和价格分析等举措来提升毛利率 [21] - 公司行业地位领先,有望持续实现高于市场的增长 [19][22] 管理层对经营环境和未来前景的评论 - 客户需求保持韧性,公司正在执行内生和外延增长举措 [6] - 预计2024年市场需求将保持平稳至小幅增长,具体取决于利率走势和联邦基建资金的拨付进度 [38][39] - 公司将继续专注于客户服务、技术专长、生产效率和定价执行等可控因素,维持强劲的现金流和财务实力 [40] 问答环节重要的提问和回答 问题1 **Joe Ahlersmeyer 提问** 询问2024年各细分市场的具体预期 [45][46] **Mark Witkowski 回答** 预计2024年市政维修和更换业务将保持低单位数增长,住宅建设将有所改善,非住宅建设将基本持平 [46][47] 问题2 **Kathryn Thompson 提问** 询问公司对并购目标的偏好是否发生变化 [52][53][54] **Steve LeClair 回答** 公司并购意愿未发生明显变化,仍看好行业内优质标的,并购渠道保持畅通 [53][55] 问题3 **Nigel Coe 提问** 询问库存成本的变化情况 [61][66][67] **Mark Witkowski 回答** 公司正在持续优化库存,预计在2024年上半年仍会有一定的毛利率压力,但将通过各项举措来抵消影响 [66][67][118][119]

Credit Risk 37 Changes in Internal Control over Financial Reporting 38 Item 1A. Risk Factors Anti-takeover provisions in our Certificate of Incorporation and our amended and restated by-laws (the "By-laws") could discourage, delay or prevent a change of control of our company and may af ect the trading price of our Class A common stock. Our Certificate of Incorporation and By-laws include a number of provisions that may discourage, delay or prevent a change in our management or control over us even if our s ...

Patrick Baumann Mark Witkowski Mark Witkowski Operator Operator Thank you. Yeah. Thanks, Anthony. Yeah, on the sales guidance, down 1% to positive 2% for the full year. I'd say, first, one piece of that is acquisitions. We expect that to contribute 3 to 4 points for the full year. And then from an organic standpoint, we do and have seen pricing very stable and expect that to be stable here through the second half of the year. So overall, price contributing in the low single-digit range for the full year. An ...

Fiscal 2023 Second Quarter Results SEPTEMBER 6, 2023 Cautionary Note Regarding Forward-Looking Statements In addition to providing results that are determined in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"), we present EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, Operating Cash Flow Conversion and Net Debt Leverage, all of which are non-GAAP financial measures. These measures are not considered measures of financial performance or liquidity under GAAP and the items excluded the ...

Part II - Other Information • exposure to product liability, construction defect and warranty claims and other litigation and legal proceedings; The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. | --- | --- | --- | --- | --- | |--------|--------|--------|--------|----------------------| | | | | | | | | | | | Additional Paid In | | Shares | Amount | Shares | Amount | Capital | Shareholder Ownership 3) REVENUE | --- | --- | --- | |--------------------- ...

Fiscal 2023 First Quarter Results JUNE 6, 2023 This presentation and accompanying discussion may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, all statements other than statements of historical or current facts relating to our intentions, beliefs, assumptions or current expectations concerning, among other things, our future results of operations and financial position, business strateg ...

Core & Main, Inc. (NYSE:CNM) Q1 2023 Earnings Conference Call June 6, 2023 8:30 AM ET Conference Call Participants Good morning everyone and welcome to the Core & Main First Quarter 2023 Earnings Call. My name is Karla, and I will be coordinating your call today. [Operator Instructions] Thank you. Good morning, everyone. This is Robyn Bradbury, Vice President of Finance and Investor Relations for Core & Main. Core & Main is a leader in advancing reliable infrastructure with local service nationwide. We are ...

公司业务 - 核心和主要的业务是在水、污水、暴雨排水和消防保护产品及相关服务领域提供解决方案[15] - 公司的产品包括管道、阀门、配件、暴雨排水产品、消防保护产品等[15] - 公司的服务和能力允许与客户集成，并成为其采购和采购功能的一部分[15] 公司财务表现 - 净销售额为1,574百万美元，较上年同期1,598百万美元略有下降[9] - 净利润为133百万美元，较上年同期137百万美元略有下降[9] - 总综合收入为125百万美元，较上年同期174百万美元下降[10] - 现金流量从经营活动中提供了120百万美元，较上年同期净支出37百万美元有所改善[13] 公司资产和收购 - 公司主要资产是对Holdings的间接所有权[14] - 公司于2023年4月10日完成了对UPSCO公司的收购，交易价值为4000万美元[26] 公司财务状况 - 公司截至2023年4月30日的长期债务总额为1,604亿美元，其中包括到期日为2028年7月的高级贷款和到期日为2026年7月的资产负债表中的高级资产负债额度[30] - 公司2023年第三季度的有效税率为18.9%，2022年为18.0%[33] 公司未来展望 - 公司预计在未来的财政年度中，无形资产的摊销费用总额将分别为89亿美元、111亿美元、103亿美元、94亿美元和87亿美元[30] - 公司通过税收可收回协议和重组交易，预计将在未来12个月内将3900万美元的现金流利息交换收益重新分类为收入[32] - 公司2023年度预计将支付给相关方的税收可收回协议款项为8600万美元和10900万美元[35]

team, who partners with our field to develop and implement operational best practices across the company. Not only do these solutions improve our efficiency to help drive EBITDA growth and EBITDA margin expansion, they also improved customer service through better communication responsiveness with our customers. We are excited about increasing the capacity and efficiency of our branches and we see continued improvement ahead. As a leading specialty distributor that provides products, services and solutions ...