Core & Main, Inc. (NYSE: CNM) announced its financial results for the fiscal second quarter ended August 2, 2026, reporting growth in net sales and adjusted earnings while executing record share repurchases. The company reported net sales of $2.145 billion for the quarter, a 2.5% increase compared to the same period in the prior year.
Key financial metrics for the three months ended August 2, 2026, included:
- Net Sales: $2,145 million (up 2.5% from $2,093 million in Q2 2025)
- Gross Profit: $573 million (up 2.3% from $560 million; margin 26.7%)
- Net Income: $150 million (up 6.4% from $141 million)
- Adjusted EBITDA: $274 million (up 3.0% from $266 million; margin 12.8%)
- Diluted EPS: $0.77 (up 10.0% from $0.70)
- Adjusted Diluted EPS: $0.94 (up 8.0% from $0.87)
For the six months ended August 2, 2026, net sales totaled $4.055 billion, a 1.3% increase over the prior year. Net income for the six months was $263 million, and adjusted diluted earnings per share were $1.66.
The company reported strong capital allocation during the quarter. Core & Main deployed $169 million to repurchase 3.7 million shares during the quarter and an additional $11 million to repurchase 0.3 million shares after the quarter ended. Year-to-date, the company has spent nearly $270 million to repurchase 5.7 million shares. Net cash provided by operating activities for the six months was $144 million.
Regarding its balance sheet, net debt decreased to $2.166 billion as of August 2, 2026, down from $2.253 billion the previous year. The company noted there were no outstanding borrowings on its Senior Asset-Based Revolving Credit Facility as of the reporting date.
Core & Main reaffirmed its full-year fiscal 2026 outlook, which includes net sales of $7.800 billion to $7.900 million and adjusted EBITDA of $950 million to $980 million. The company also opened seven greenfield locations during fiscal 2026, including two during and after the quarter.
