Core & Main, Inc. · NYSE:CNM

Core & Main — Q1 2022 Earnings Presentation

18 slides from Core & Main's earnings presentation, Jun 14, 2022

  1. Slide 1: Fiscal 2022 First Quarter Results

    Fiscal 2022 First Quarter Results JUNE 14, 2022

  2. Slide 2: Cautionary Statements

    © Core & Main All Rights Reserved. Confidential and Proprietary Information. CAUTIONARY STATEMENTS 2 Cautionary Note Regarding Forward-Looking Statements This presentation and accompanying discussion may include “forward-looking statements” within the meaning of the Private Securities Litigation Ref

  3. Slide 3: Today's Presenters

    © Core & Main All Rights Reserved. Confidential and Proprietary Information. TODAY’S PRESENTERS 3 000 Steve LeClair Chief Executive Officer Mark Witkowski Chief Financial Officer Robyn Bradbury VP, Investor Relations and FP&A

  4. Slide 4: Business Update

    © Core & Main All Rights Reserved. Confidential and Proprietary Information. BUSINESS UPDATE 4

  5. Slide 5: Q1 2022 Business Update

    © Core & Main All Rights Reserved. Confidential and Proprietary Information. Q1 2022 BUSINESS UPDATE 5 ✓ Strong net sales and Adjusted EBITDA growth ✓ Healthy demand across each of our end markets ✓ Focused execution as supply chain challenges continued ✓ Remained active in M&A during and subsequent

  6. Slide 6: Growth Initiatives

    © Core & Main All Rights Reserved. Confidential and Proprietary Information. GROWTH INITIATIVES 6 Sales Initiatives Margin Initiatives Private Label Pricing Analytics Innovation & Technology Category Management Optimization Greenfield Expansion Strategic Accounts Geosynthetics & Erosion Control Smar

  7. Slide 7: Targeting Growth in Underpenetrated Product Categories – Geosynthetics & Erosion Control

    © Core & Main All Rights Reserved. Confidential and Proprietary Information. 7 TARGETING GROWTH IN UNDERPENETRATED PRODUCT CATEGORIES – GEOSYNTHETICS & EROSION CONTROL ~$5B Core & Main (1%) Remaining Market (99%) Organic Growth Opportunity Inorganic Growth Opportunity Geosynthetics & Erosion Control

  8. Slide 8: Financial Highlights

    © Core & Main All Rights Reserved. Confidential and Proprietary Information. FINANCIAL HIGHLIGHTS 8

  9. Slide 9: Q1 2022 Operating Results

    © Core & Main All Rights Reserved. Confidential and Proprietary Information. $1,055 $1,598 Q1'21 Q1'22 $109 $219 Q1'21 Q1'22 $257 $421 Q1'21 Q1'22 Q1 2022 OPERATING RESULTS 9 Net Sales Gross Profit Adjusted Net Income(1) Adjusted EBITDA(1) (1) Adjusted Net Income, Adjusted EBITDA and Adjusted EBITDA

  10. Slide 10: Cash Flow & Balance Sheet Highlights

    © Core & Main All Rights Reserved. Confidential and Proprietary Information. CASH FLOW & BALANCE SHEET HIGHLIGHTS 10 Operating Cash Flow Net Debt Leverage(5) ($ in Millions) Q1’21 Q1’22 Y-o-Y $ Adjusted EBITDA $109 $219 $110 Investment in Operating Capital(1) (78) (183) (105) Cash Interest (50) (12)

  11. Slide 11: Fiscal 2022 Outlook

    © Core & Main All Rights Reserved. Confidential and Proprietary Information. FISCAL 2022 OUTLOOK 11 Core & Main is strategically positioned for continued growth ▪ Demand expected to remain healthy despite macroeconomic backdrop ▪ Sustained pricing benefits, end market demand, above-market growth ini

  12. Slide 12: Appendix

    © Core & Main All Rights Reserved. Confidential and Proprietary Information. APPENDIX 12

  13. Slide 13: Why Core & Main

    © Core & Main All Rights Reserved. Confidential and Proprietary Information. WHY CORE & MAIN 13

  14. Slide 14: Product & Service Offering

    © Core & Main All Rights Reserved. Confidential and Proprietary Information. PRODUCT & SERVICE OFFERING 14

  15. Slide 15: Track Record of Acquisitions

    © Core & Main All Rights Reserved. Confidential and Proprietary Information. TRACK RECORD OF ACQUISITIONS 15 Organic Growth Why We Succeed Acquisition Focus Acquirer of Choice ✓ Respected reputation in the industry ✓ Entrepreneurial culture ✓ Investment in our people ✓ Consolidate existing market po

  16. Slide 16: Reconciliation of Non-GAAP Measures: Adjusted EBITDA

    © Core & Main All Rights Reserved. Confidential and Proprietary Information. May 1, 2022 May 2, 2021 May 1, 2022 Jan. 30, 2022 Oct. 31, 2021 Aug. 1, 2021 May 2, 2021 Net income attributable to Core & Main, Inc. $86 $225 $166 $118 $76 Plus: net income (loss) attributable to non-controlling interests

  17. Slide 17: Reconciliation of Non-GAAP Measures: Footnotes

    © Core & Main All Rights Reserved. Confidential and Proprietary Information. (1) Core & Main, Inc. is subject to U.S. federal, state and other income taxes with respect to its allocable share of any net taxable income of Core & Main Holdings, LP. The adjustment to the provision for income tax reflec

  18. Slide 18: Reconciliation of Non-GAAP Measures: Net Debt Leverage

    © Core & Main All Rights Reserved. Confidential and Proprietary Information. May 1, 2022 Jan. 30, 2022 Oct. 31, 2021 Aug. 1, 2021 May 2, 2021 Senior Term Loan due August 2024 $ - $ - $ - $ - $1,258 Senior Notes due September 2024 - - - - 300 Senior Notes due August 2025 - - - - 750 Senior ABL Credit

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