Core & Main, Inc. (NYSE:CNM) Q2 2023 Earnings Call Transcript September 6, 2023 8:30 AM ET

Company Participants

Robyn Bradbury - Vice President of Finance and Investor Relations

Steve LeClair - Chief Executive Officer

Mark Witkowski - Chief Financial Officer

Conference Call Participants

Matthew Bouley - Barclays

David Manthey - Baird

Brian Biros - Thompson Research

Mike Dahl - RBC Capital

Vivek Srivastava - Goldman Sachs

Patrick Baumann - JPMorgan

Anthony Pettinari - Citi

David Ridley-Lane - Bank of America

Operator

Hello, everyone, and welcome to the Core & Main Second Quarter 2023 Earnings Call. My name is Bruno, and I'll be operating your call today. [Operator Instructions] I will now hand over to your host, Robyn Bradbury. Please go ahead.

Robyn Bradbury

Thank you. Good morning, everyone. This is Robyn Bradbury, Vice President of Finance and Investor Relations for Core & Main. We are thrilled to have you join us this morning for our second 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 business update, followed by an overview of our recent acquisitions. Mark will then discuss our second quarter financial results and full year outlook followed by a Q&A session. We will conclude the call with Steve's closing remarks.

We issued our second quarter 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 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.

We will also discuss certain non-GAAP financial measures, which we believe are useful in assessing 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. If you're following along with our second quarter investor presentation, we'll begin on page 5 with a brief business update. Core & Main delivered another quarter of solid results as we maintain our focus on driving operational excellence across the business. Sales of $1.9 billion were equal to last year's record high, and up 43% from the second quarter of fiscal 2021.