Core & Main Inc. reported second-quarter fiscal 2026 results on September 9, with revenue up 2.5% year over year to $2.145 billion. Adjusted EBITDA came in at $274 million, a 12.8% margin and a 3% increase over Q2 FY25, while adjusted diluted EPS rose 8% to $0.94 on higher net income and a lower Class A share count following buybacks. Gross profit was $573 million, a 26.7% margin and 2.3% growth, and SG&A expenses slipped 0.3% to $301 million on lower variable compensation and cost-cutting. The company repurchased 3.7 million shares for $169 million in the quarter and another 0.3 million shares for $11 million after it closed, and management reiterated full-year fiscal 2026 guidance of $7.8 billion to $7.9 billion in net sales, $950 million to $980 million in adjusted EBITDA, and operating cash flow at 60% to 70% of adjusted EBITDA. For the first half, net sales rose just 1.3% over H1 FY25, most of it from recent acquisitions, and storm drainage sales declined on softer volumes.
Core & Main IncQ2 FY26 revenue rose 2.5% to $2.145B, adjusted EBITDA up 3% with 12.8% margin, EPS up 8%, and buybacks reduced share count.
