Core & Main (CNM) Q2 FY27 earnings call

Core & Main delivered solid Q2 FY27 results, driven by strong municipal demand, treatment plant solutions, and data center projects, which nearly doubled year-over-year. The company leveraged disciplined cost management to expand adjusted EBITDA margins and continued its aggressive share repurchase program. While residential and traditional commercial construction faced headwinds, an accelerating M&A pipeline and record greenfield openings position the company for future growth.