Core & Main, Inc. (NYSE:CNM) Q4 2023 Earnings Call Transcript

Steve LeClair: Yes. We really look at the share gains, particularly with the contractors that are doing a lot of this work that are traveling across the country to work on treatment plant projects, particularly those in design build, whether it’s a Garney construction or Archer Western. All of them are looking for consistency in delivery and execution with a national focus, but then ultimately when it comes time to fulfillment at the local levels, being able to do that. With our branch structure now, well over 300 branches, our ability to serve and fulfill through all of those different locations has given us a real powerful competitive advantage in being able to continue to grow with those contractors as we do that. So we’re encouraged by what we’re seeing there.

There’s a lot of treatment plant and wastewater treatment plant being sketched out over the next several years. The pipeline for these things can be three to five years in terms of timing for a lot of these projects. A lot of the work that we’ve done over the last several years has certainly allowed us to continue to grow and the pipeline looks really strong for those projects going forward.

Operator: We currently have no further questions. I will hand back to Steve LeClair to conclude.

Steve LeClair: Thank you all again for joining us today. It was a pleasure to have you on the call. Fiscal 2023 was an outstanding year for Core & Main. We are well positioned to build on our momentum and we have a strong outlook for fiscal 2024. We are confident that our strategy will drive ongoing value creation as we continue to execute our growth strategies and deliver on our capital allocation priorities. We have more levers than ever for driving growth and profitability, the cash flow generation to capitalize on it, and the team to execute it. Thank you for your interest in Core & Main. Operator, that concludes our call.

Operator: This concludes today’s call. Thank you for joining. You may now disconnect your lines.