Core & Main, Inc. (NYSE:CNM) reported second-quarter adjusted earnings per share above analyst expectations on Wednesday, while revenue matched consensus estimates.
Adjusted earnings per share were $0.94 for the quarter ended August 2, 2026, compared with the analyst consensus estimate of $0.92.
Revenue increased 2.5% year over year to $2.14 billion from $2.09 billion, matching analyst expectations.
Shares of the specialty infrastructure distributor rose 1.04% in premarket trading following the announcement.
Net income rises to $150 million
Core & Main said net sales growth reflected contributions from volume, pricing and acquisitions, with fire protection products and smart utility products among the areas contributing to the increase.
The company has opened seven greenfield locations during fiscal 2026, including two during and after the second quarter.
“We delivered growth across sales, adjusted EBITDA and earnings per share during the second quarter, while momentum continues to build across the business,” said Mark Witkowski, Chief Executive Officer. “Municipal demand remained a source of strength. Fire protection and large capital projects, including treatment plants and data centers, delivered strong growth and we are encouraged by the opportunities emerging across our acquisition pipeline.”
Net income increased 6.4% to $150 million from $141 million in the prior-year period.
Adjusted EBITDA rose 3% to $274 million from $266 million, with an adjusted EBITDA margin of 12.8%.
Core & Main also spent $169 million to repurchase 3.7 million shares during the quarter.
Core & Main maintains fiscal 2026 guidance
For fiscal 2026, Core & Main maintained its net sales guidance of between $7.8 billion and $7.9 billion, representing expected growth of 2% to 3%.
The midpoint of the range is $7.85 billion, compared with the analyst consensus estimate of $7.84 billion.
The company also reaffirmed its adjusted EBITDA forecast of $950 million to $980 million and expects an adjusted EBITDA margin of between 12.2% and 12.4%.
Core & Main stock price
