Waterworks and industrial supplies distributor Core & Main's 3Q earnings increased 0.5% due to acquisitions offset by lower end-market volumes.
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Lee Supply's fabrication capabilities will expand Core & Main's ability to serve the high-density polyethylene pipe industry nationwide.
Granite Water Works is a distributor of waterworks and subsurface drainage supplies for contractors and municipalities in central Minnesota.
The company estimated that net sales for the quarter were between $1.822 billion and $1.832 billion.
The deal further boosts their geosynthetics offerings, two months after the opening of a new Southern California facility.
The 2Q period follows the company's February-April period, in which sales slid 1.5% YoY and increased 49.2% sequentially.
The new location will allow the company to further expand its fire protection product category in the Northwest, according to a news release.
Core & Main says the new location allows the company better serve geosynthetics customers in the West.
The waterworks and industrial supplies distributor also completed its previously-announced acquisition of Foster Supply.
Net sales decreased 1.5% over last year, but increased 49.2% compared with the first quarter of fiscal 2021, the company said.
Foster is a full-service provider of precast concrete structures, pipe, drainage materials and related geosynthetics products.
The St. Louis-based waterworks and industrial supplies distributor posted record sales in its fiscal 2022 that ended in late January.
The company finalized its acquisition of Lanier Municipal Supply Co. Inc., while 3Q 2022 net sales increased 29.4% over last year.
Lanier serves customers through facilities in Lakeland and Savannah, Georgia, and Panama City and Lake City, Florida.
Trumbull operates four locations across Ohio and Pennsylvania.
The St. Louis-based company said fiscal 2022 second-quarter sales rose to $1.86 billion for the period ending July 31.
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Core & Main is No. 10 on MDM's 2022 Top Industrial Distributors list.
The wastewater, storm drainage and fire protection distributor agreed to acquire ‘substantially’ all of the assets of Lock City Supply Inc.
The St. Louis-based company also reported that fiscal 2021 fourth-quarter net sales were nearly $1.25 billion.
