Core & Main Reports Strong Q2 Earnings Amid Growth in Key Sectors
Core & Main (NYSE:CNM) reported solid fiscal second-quarter results for 2026, with sales rising 2.5% to $2.1 billion and adjusted earnings per share increasing by 8%. The company's performance was driven by growth in municipal infrastructure projects, treatment plant initiatives, fire protection demand, and data center-related work. Data center activity nearly doubled year-over-year, while fire protection sales rose 14%, offsetting declines in residential lot development and traditional light commercial sectors. The firm maintained its full-year guidance for $7.8 billion to $7.9 billion in revenue and adjusted EBITDA between $950 million and $980 million. Core & Main also continued aggressive capital allocation, repurchasing $169 million of shares during the quarter while expanding through seven new locations and acquiring Walker Industries. Management highlighted strong cash generation and balance-sheet flexibility as key strengths for future growth. CEO Mark Witkowski emphasized long-term opportunities in water infrastructure investment, citing a projected need for over $1.2 trillion in U.S. system upgrades over 20 years.
Tickers: $CNM
Topics: acquisitions capital_allocation earnings ebitda sales_growth