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Why Core & Main Stock Is Down Big Today

TheMotleyFool

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Why Core & Main Stock Is Down Big Today: https://g.foolcdn.com/editorial/images/789632/water-glass-with-bubbles-source-getty.jpg

Expectations were sky-high for Core Main (NYSE: CNM) coming into earnings. Unfortunately, the news did not match the hype.

Shares of Core Main traded down 14% as of 10:30 a.m. ET after the company missed top- and bottom-line expectations and cut full-year guidance.

Core Main is a distributor of water products used by municipalities, private water companies, and professional contractors. A big part of the push to modernize infrastructure is replacing aging water and sewer lines, creating a lot of demand for the products that Core Main sources.

Source Fool.com