Jul 2026 (Q2 FY27) — Sep 9, 2026
Core & Main Q2 FY27 — Strong Sales, EBITDA, and EPS Growth Driven by Infrastructure Projects and Strategic Investments
Read the full callCore & Main (CNM) earnings
- Aug 2026
- Jul 2026 (Q2 FY27)
- Feb 2026
Core & Main earnings: last reported Wed, 9 Sep 2026, for the quarter ended Jul 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 2,145 | +2.5% YoY | Quarterly, as filed | Quarter to Aug 2026 | Revenue from operations as filed. |
| Operating margin | 10.6 | +0.4 pts YoY | Operating profit / revenue | Quarter to Aug 2026 | For the quarter; a change is in percentage points. |
| Net profit | 144 | +7.5% YoY | Quarterly, as filed | Quarter to Aug 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
23 of 26 judged targets kept · 21 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| First-quarter sales and adjusted EBITDA versus prior year | down slightly year-over-year | Jan 2026 | Net sales were in line with prior year at $1.9 billion | Achieved |
| New greenfield locations opened | a record 7 to 10 locations in fiscal 2026 | Jan 2026 | We are well on track to open a record 8 to 10 greenfield locations in fiscal 2026 | Revised Up |
| Full-year adjusted EBITDA margin | 12.5% to 12.8% | Jan 2025 | adjusted EBITDA margin declined 30 basis points to 12.2% | Missed |
3 of Core & Main, Inc.'s 47 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 44 more targets are in the full ledger.
Claimed
- Net sales increased 2.5% to $2.1 billion.
- Adjusted EBITDA grew 3% to $274 million, with margin expanding 10 basis points to 12.8%.
- Adjusted diluted EPS increased 8% to $0.94.
- Fire protection sales increased 14%, driven by volume and steel pricing.
- Deployed $169 million to repurchase 3.7 million shares in Q2, totaling nearly $270 million and 5.7 million shares for FY26 YTD.
Qualified
- Residential lot development remained challenged, down high single digits in Q2 FY27.
- Nonresidential construction saw ongoing softness in light commercial and retail segments.
- PVC pricing has stabilized but earlier price increases did not stick due to market conditions.
- Large smart utility project timing variability impacted volume, keeping growth in that business flat.
Price
$41.68 −0.74% · −$0.31
Performance −20.1% 1Y
1Y: $52.19 on 17 Oct 2025 → $41.68. High $59.09 (22 Jan 2026), low $40.35 (9 Oct 2026).
- Previous close
- $41.99
- 52-week range
- $40.35 – $59.09
- One year
- −20.79%
Overview
- Symbol
- CNM
- Sector
- Industrials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
23 of 26 judged targets kept · 21 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| First-quarter sales and adjusted EBITDA versus prior year | down slightly year-over-year | Jan 2026 | Net sales were in line with prior year at $1.9 billion | Achieved |
| New greenfield locations opened | a record 7 to 10 locations in fiscal 2026 | Jan 2026 | We are well on track to open a record 8 to 10 greenfield locations in fiscal 2026 | Revised Up |
| Full-year adjusted EBITDA margin | 12.5% to 12.8% | Jan 2025 | adjusted EBITDA margin declined 30 basis points to 12.2% | Missed |
Claimed
- Net sales increased 2.5% to $2.1 billion.
- Adjusted EBITDA grew 3% to $274 million, with margin expanding 10 basis points to 12.8%.
- Adjusted diluted EPS increased 8% to $0.94.
- Fire protection sales increased 14%, driven by volume and steel pricing.
- Deployed $169 million to repurchase 3.7 million shares in Q2, totaling nearly $270 million and 5.7 million shares for FY26 YTD.
Qualified
- Residential lot development remained challenged, down high single digits in Q2 FY27.
- Nonresidential construction saw ongoing softness in light commercial and retail segments.
- PVC pricing has stabilized but earlier price increases did not stick due to market conditions.
- Large smart utility project timing variability impacted volume, keeping growth in that business flat.
The full ledger
Open Core & Main, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 47 tracked commitments, with each call’s wording and source.
Call summaries
May 2026 (Q1 FY27) — Jun 10, 2026
Core & Main Q1 FY27 — Municipal strength and margin gains offset residential softness; full-year guide reaffirmed
Read the full callFeb 2026 (Q4 FY26) — Mar 24, 2026
Core & Main Q4 FY26 — Strong Organic Growth Amidst Flat End Markets
Read the full callEvery analysed call
Core & Main earnings calls (CNM)
Financials
What the filings say
Net profit, year on year: +7% (quarter to aug 2026 against aug 2025).
| Line item | Oct 2024 | Feb 2025 | May 2025 | Aug 2025 | Nov 2025 | Feb 2026 | May 2026 | Aug 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 2,038 | 1,698 | 1,911 | 2,093 | 2,062 | 1,581 | 1,910 | 2,145 |
| Operating profit | 223 | 124 | 171 | 213 | 220 | 118 | 177 | 227 |
| Operating margin | 10.9% | 7.3% | 8.9% | 10.2% | 10.7% | 7.5% | 9.3% | 10.6% |
| Interest | 36 | 36 | 30 | 31 | 30 | 29 | 27 | 32 |
| Profit before tax | 187 | 88 | 141 | 182 | 190 | 94 | 150 | 193 |
| Tax rate | 25.1% | 23.9% | 25.5% | 22.5% | 24.7% | 22.3% | 24.7% | 22.3% |
| Net profit | 133 | 64 | 100 | 134 | 137 | 70 | 108 | 144 |
| EPS ($ per share) | 0.69 | — | 0.53 | 0.71 | 0.72 | — | 0.57 | 0.77 |
| Line item | Feb 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Jan 2024 | Feb 2025 | Feb 2026 |
|---|---|---|---|---|---|---|---|
| Reserves | — | — | 92 | 458 | 189 | 449 | 755 |
| Total liabilities | — | 3,123 | 2,603 | 2,499 | 3,545 | 4,096 | 4,011 |
| Fixed assets | — | 86 | 94 | 105 | 151 | 168 | 178 |
| Total assets | — | 3,924 | 4,434 | 4,909 | 5,069 | 5,870 | 6,085 |
| Line item | Feb 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Jan 2024 | Feb 2025 | Feb 2026 |
|---|---|---|---|---|---|---|---|
| Cash from operations | 194 | 214 | -31 | 401 | 1,069 | 621 | 650 |
| Cash from investing | -234 | -229 | -203 | -152 | -270 | -788 | -145 |
| Cash from financing | 184 | 215 | -146 | -73 | -975 | 174 | -293 |
| Net cash flow | 144 | 200 | -380 | 176 | -176 | 7 | 212 |
| Capital expenditure | -14 | -12 | -20 | -25 | -39 | -35 | -46 |
| Free cash flow | 180 | 202 | -51 | 376 | 1,030 | 586 | 604 |
CNM revenue by segment
| Segment | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | Q2 FY2027 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Pipes Valves and Fitting Products | 68% | 66% | 68% | 68% | 67% | 65% | 67% | 68% | +2.2% |
| Storm Drainage Products | — | — | 15% | 16% | 16% | 15% | 15% | 16% | -0.3% |
| Fire Protection Products | 7% | 8% | 8% | 7% | 7% | 9% | 9% | 8% | +13.5% |
| Meter Products | 9% | 10% | 9% | 8% | 9% | 11% | 9% | 8% | +0.6% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
48 filings between Jan 26, 2026 and Aug 4, 2026.
Open market
decisions to buy or sellPurchases
$195.1K
2 purchases by 1 insider
Sales
$262.7K
2 sales by 1 insider
100% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 18
- Award — granted as compensation
- 25
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 conversion.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Bradbury Robyn L | — | $262.7K | Apr 17, 2026 |
| Hope James D | $195.1K | — | Jul 6, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 4, 2026 | Harper Carla D Senior VP, Human Resources | Tax withheld | 242 | $11.2K |
| Jul 22, 2026 | HUEBERT MICHAEL G. President | Tax withheld | 1,301 | $56.9K |
| Jul 6, 2026 | Hope James D Director | Purchase | 2,067 | $95.1K |
| Jun 23, 2026 | Hardwick M Susan Director | Award | 2,799 | $0 |
| Jun 23, 2026 | Kimbrough Orvin T Director | Award | 2,799 | $0 |
| Jun 23, 2026 | Gipson Dennis G Director | Award | 2,799 | $0 |
| Jun 23, 2026 | Buck Robert M Director | Award | 2,799 | $0 |
| Jun 23, 2026 | MAZZARELLA KATHLEEN M Director | Award | 2,799 | $0 |
| Jun 23, 2026 | NEWMAN MARGARET Director | Award | 2,799 | $0 |
| Jun 23, 2026 | Hope James D Director | Award | 2,799 | $0 |
| Jun 23, 2026 | Castellano James G Director | Award | 2,799 | $0 |
| Jun 23, 2026 | Amirthalingam Bhavani Director | Award | 2,799 | $0 |
| Jun 22, 2026 | Harper Carla D Senior VP, Human Resources | Tax withheld | 568 | $26.8K |
| Apr 17, 2026 | Bradbury Robyn L Chief Financial Officer | Sale 10b5-1 plan | 1,647 | $85.5K |
| Apr 17, 2026 | Bradbury Robyn L Chief Financial Officer | Sale 10b5-1 plan | 3,353 | $177.2K |
| Apr 17, 2026 | Bradbury Robyn L Chief Financial Officer | Conversion 10b5-1 plan | 5,000 | $0 |
| Apr 7, 2026 | Hope James D Director | Purchase | 1,972 | $100.0K |
| Apr 1, 2026 | Hardwick M Susan Director | Award | 580 | $0 |
| Mar 12, 2026 | Witkowski Mark R Chief Executive Officer | Award | 18,372 | $0 |
| Mar 12, 2026 | Cowles Bradford A President | Award | 7,086 | $0 |
| Mar 12, 2026 | Stephens John Weldon Chief Accounting Officer | Award | 936 | $0 |
| Mar 12, 2026 | Harper Carla D Senior VP, Human Resources | Award | 2,463 | $0 |
| Mar 12, 2026 | HUEBERT MICHAEL G. President | Award | 10,500 | $0 |
| Mar 12, 2026 | Giles Jeffrey D EVP, Corporate Development | Award | 3,021 | $0 |
| Mar 12, 2026 | Bradbury Robyn L Chief Financial Officer | Award | 4,824 | $0 |
| Mar 11, 2026 | Whittenburg Mark G General Counsel and Secretary | Tax withheld | 331 | $16.3K |
| Mar 11, 2026 | Bradbury Robyn L Chief Financial Officer | Tax withheld | 404 | $19.9K |
| Mar 11, 2026 | Cowles Bradford A President | Tax withheld | 607 | $29.8K |
| Mar 11, 2026 | Witkowski Mark R Chief Executive Officer | Tax withheld | 1,685 | $82.8K |
| Mar 11, 2026 | Stephens John Weldon Chief Accounting Officer | Tax withheld | 107 | $5.3K |
| Mar 11, 2026 | HUEBERT MICHAEL G. President | Tax withheld | 447 | $22.0K |
| Mar 11, 2026 | Harper Carla D Senior VP, Human Resources | Tax withheld | 89 | $4.4K |
| Mar 10, 2026 | Stephens John Weldon Chief Accounting Officer | Tax withheld | 198 | $9.8K |
| Mar 10, 2026 | Harper Carla D Senior VP, Human Resources | Tax withheld | 189 | $9.3K |
| Mar 10, 2026 | Cowles Bradford A President | Tax withheld | 741 | $36.6K |
| Mar 10, 2026 | Witkowski Mark R Chief Executive Officer | Tax withheld | 937 | $46.3K |
| Mar 10, 2026 | Bradbury Robyn L Chief Financial Officer | Tax withheld | 205 | $10.1K |
| Mar 10, 2026 | LeClair Stephen O Executive Chair | Tax withheld | 3,081 | $152.1K |
| Mar 10, 2026 | Whittenburg Mark G General Counsel and Secretary | Tax withheld | 557 | $27.5K |
| Mar 9, 2026 | Harper Carla D Senior VP, Human Resources | Tax withheld | 77 | $3.8K |
| Mar 9, 2026 | Whittenburg Mark G General Counsel and Secretary | Tax withheld | 278 | $13.9K |
| Mar 9, 2026 | Stephens John Weldon Chief Accounting Officer | Tax withheld | 94 | $4.7K |
| Mar 9, 2026 | HUEBERT MICHAEL G. President | Tax withheld | 350 | $17.5K |
| Mar 9, 2026 | Cowles Bradford A President | Tax withheld | 435 | $21.7K |
| Mar 9, 2026 | Witkowski Mark R Chief Executive Officer | Tax withheld | 478 | $23.9K |
| Mar 9, 2026 | LeClair Stephen O Executive Chair | Tax withheld | 1,519 | $75.9K |
| Mar 9, 2026 | Bradbury Robyn L Chief Financial Officer | Tax withheld | 270 | $13.5K |
| Jan 26, 2026 | Giles Jeffrey D EVP, Corporate Development | Award | 4,377 | $0 |
| Sep 12, 2025 | Stephens John Weldon Chief Accounting Officer | Option exercise | 12,717 | $264.6K |
| Sep 3, 2025 | Harper Carla D Senior VP, Human Resources | Award | 2,091 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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