Core & Main, Inc. (NYSE: CNM) issued a press release on November 10, 2026, announcing preliminary estimated financial results for the third quarter of fiscal 2026. The company reported net sales between $2.12 billion and $2.13 billion for the three months ended November 1, 2026, representing a 3% increase compared to the same period in the prior year. Net income is estimated to be between $128 million and $140 million, while Adjusted EBITDA (Non-GAAP) is projected to be between $267 million and $275 million.
The company also provided an updated outlook for fiscal 2026. Core & Main maintains its net sales guidance of $7.8 billion to $7.9 billion. However, the Adjusted EBITDA (Non-GAAP) outlook has been revised downward to $950 million to $960 million, down from the previous range of $950 million to $980 million. The company attributes the updated outlook to higher transportation costs and investments in greenfield locations, partially offset by softer-than-anticipated residential lot development and light commercial activity.
In terms of strategic activity, Core & Main completed three acquisitions in the third quarter with over $250 million in combined annual revenue. These acquisitions included Southwest Stormwater Solutions in Phoenix, Arizona; Gajeske, LLC in Houston, Texas; and KTI Limited and KTI Utility Services in Toronto, Canada.
Financially, the company repurchased a record $171 million of shares in the open market during the third quarter. Year-to-date, the company has repurchased approximately $428 million of shares, with approximately $240 million remaining under its current share repurchase authorization. The company expects to report full third quarter fiscal 2026 results on December 8, 2026.
