Core & Main, Inc. (NYSE:CNM) Q4 2022 Earnings Conference Call March 28, 2023 8:30 AM ET

Company Participants

Robyn Bradbury - Vice President, Finance, and Investor Relations

Steve LeClair - Chief Executive Officer

Mark Witkowski - Chief Financial Officer

Conference Call Participants

Jamie Cook - Credit Suisse

Kathryn Thompson - Thompson Research

Mike Dahl - RBC Capital Markets

Dave Manthey - Baird

Nigel Coe - Wolfe Research

Vivek Srivastava - Goldman Sachs

Asher Sohnen - Citi

Elizabeth Langan - Barclays

Pat Baumann - JPMorgan

Operator

Welcome to the Core & Main Fourth Quarter 2022 Earnings Call. My name is Harry, and I'll be coordinating your call today. [Operator Instructions]

And I would now like to hand over to Robyn Bradbury to begin the presentation.

Robyn Bradbury

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 thrilled to have you join us this morning for our fourth quarter earnings call.

I am joined today by Steve LeClair, our Chief Executive Officer and Mark Witkowski, our Chief Financial Officer. Steve will lead today's call with a review of our fiscal 2022 execution highlights followed by a discussion on our growth strategy. Mark will then discuss our financial results and fiscal 2023 outlook followed by a Q&A. We will conclude the call with Steve's closing remarks.

We issued our fourth quarter and full-year earnings press release this morning and posted a presentation to the Investor Relations section of our website. As a reminder, our press release, presentation, and the statements made during this call include forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations and projections. Such risks and uncertainties include the factors set forth in our earnings press release and in our filings with the Securities and Exchange Commission.

Additionally, we will discuss certain non-GAAP financial measures, which we believe are useful to assess the operating results of our business. A reconciliation of these measures can be found in our earnings press release and in the appendix of our investor presentation.

Thank you for your interest in Core & Main. I will now turn the call over to Chief Executive Officer, Steve LeClair.

Steve LeClair

Thanks, Robyn. Good morning, everyone. Thank you for joining us today, we're excited to share our results with you. Starting on page five of the presentation, fiscal 2022 was an impressive year for Core & Main. We achieved a record $6.7 billion of net sales, which was 33% higher than last year and 83% higher than fiscal 2020. Our ability to grow the business over the last several years is a testament to the investments we've made, our ability to execute with agility, and our associates relentless focus on our customers. Our teams executed at a high level to deliver these results, while improving our operating capabilities and solidifying our platform for growth.