Core & Main Stock Plummets 24.9% as Lowered Guidance Overshadows Q2 Results

Core & Main's shares cratered 24.91% in a single session, marking its worst daily performance since going public. The infrastructure products distributor closed at $50.00 after slashing full-year forecasts despite posting respectable second-quarter earnings.

Management's revised outlook paints a concerning picture for FY2025. Net sales projections were trimmed to $7.6-$7.7 billion, while adjusted EBITDA expectations fell to $920-$940 million. Rising operational costs and softening residential demand forced the guidance cut, overshadowing Q2's $141 million net income on $2.093 billion revenue.

The market's violent reaction highlights growing investor sensitivity to forward-looking statements in today's volatile climate. Core & Main becomes the latest casualty of the 'beat-and-lower' phenomenon, where companies surpass quarterly estimates only to disappoint on guidance.