Core & Main Beats Estimates on Strong Q1 Results

Core & Main, Inc. announced first-quarter financial results that exceeded analyst predictions, leading to a premarket share increase. The company reported adjusted earnings per share of $0.72, surpassing the $0.54 consensus estimate, and revenue of $1.91 billion, slightly above the expected $1.90 billion.

The specialty distributor maintained its full-year fiscal 2026 guidance, projecting net sales between $7.80 billion and $7.90 billion. This outlook reflects an anticipated growth of 2% to 3%. Core & Main also anticipates adjusted EBITDA to range from $950 million to $980 million, with an adjusted EBITDA margin between 12.2% and 12.4%.

During the first quarter, gross profit saw a 2.0% increase to $520 million, and net income rose by 7.6% to $113 million. The company actively engaged in share repurchases, deploying $88 million to buy back 1.8 million shares. Additionally, $82 million in operating cash flow was generated, an increase from the previous year.

Mark Witkowski, CEO of Core & Main, highlighted healthy municipal demand driven by repair activities and infrastructure investments. Strong performance was observed in treatment plant solutions and smart utility categories. The company also expanded its physical presence by opening five new greenfield locations. As of May 3, 2026, net debt was reduced to $2.01 billion from $2.28 billion in the prior year.