CORE+MAIN INC.CL.A DL-,01

Core & Main’s shares fell to a 52-week low of $42.49 and are down about 33.4% year-to-date. The company announced pricing for a senior note of $750 million with a 6% coupon (maturing 2034) and intends to use proceeds to partly prepay existing debt and for general corporate purposes, including potential M&A. Moody’s upgraded the rating on the senior secured loan to Ba2 and assigned a Ba2 rating with a positive outlook to a planned Term B loan of $800 million. Analysts at William Blair initiated coverage with a “market perform” rating; several directors were re-elected through 2029 at the annual meeting. » Plus sur de.investing.com

Core & Main’s stock hit a 52-week low of $43.95 after the share price declined 30.11% over the past year. The company announced pricing for senior notes totaling over $750 million (maturing 2034, 6% coupon); proceeds will be used, among other things, for early repayment and potential M&A activity. Core & Main also proposed a new $800 million senior loan to refinance existing liabilities. Moody’s upgraded the rating on the senior secured loan from Ba3 to Ba2 and revised the outlook to “positive”; three new directors were also elected. » Plus sur de.investing.com

Core & Main reported Q1 2026 EPS of $0.72, beating the $0.54 estimate, on stable revenue of $1.9 billion. Gross margin rose by 50 basis points, adjusted EBITDA was $226 million and operating cash flow was $82 million. Management provided guidance of $0.77–$0.84 EPS and expects Q2 revenue of $2.145 billion. The stock reacted slightly negatively in premarket trading, falling 1.28%. » Plus sur de.investing.com