Core & Main's Q2 sales slightly beat, adjusted EPS tops estimates

Core & Main

09/09/2026 12:39

Overview
US specialty distributor's fiscal Q2 net sales grew 2.5%, slightly beating analyst expectations
Adjusted EPS for fiscal Q2 beat analyst expectations
Company repurchased $169 mln in shares during the quarter, reaffirmed full-year outlook

Outlook
Core & Main reaffirms fiscal 2026 net sales guidance of $7.8 bln to $7.9 bln
Company maintains fiscal 2026 adjusted EBITDA forecast of $950 mln to $980 mln
Core & Main expects continued strength in municipal demand and growth in fire protection projects

Result Drivers
SEGMENT PERFORMANCE - Fire protection and large capital projects, including treatment plants and data centers, delivered strong growth; storm drainage sales were flat
ACQUISITIONS AND PRICING - Net sales increased with contributions across volume, price and acquisitions; pipes, valves & fittings sales rose due to acquisitions
MUNICIPAL DEMAND - Municipal demand remained a source of strength, according to CEO Mark Witkowski

Company press release: ID:nBw4ddhXla

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
Slight Beat*
$2.15 bln
$2.14 bln (13 Analysts)
Q2 Adjusted EPS
Beat
$0.94
$0.92 (13 Analysts)
Q2 EPS
 
$0.77
 
Q2 Net Income
 
$150 mln
 
Q2 Adjusted EBITDA
Miss
$274 mln
$280.66 mln (13 Analysts)
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy"
Wall Street's median 12-month price target for Core & Main Inc is $61.69, about 40% above its September 8 closing price of $44.06
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 15 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)