CNM

ST. LOUIS, August 26, 2026--(BUSINESS WIRE)--Core & Main, Inc. (NYSE: CNM) ("Core & Main"), a leading specialty distributor dedicated to advancing reliable infrastructure with local service, nationwide, will issue its financial results for the second quarter ended August 2, 2026, before the market opens on Wednesday, September 9, 2026. Core & Main will host a conference call and webcast at 8:30 a.m. ET the same day to discuss the company’s financial results. The live webcast will be accessible via the events calendar at ir.coreandmain.com. The conference call may also be accessed by dialing 833-461-5787 or +1-585-542-9983 (international). The passcode for the live call is 858 028 883. To ensure participants are connected for the full call, please dial in at least 10 minutes prior to the start of the call. An archived version of the webcast will be available immediately following the call. A slide presentation highlighting Core & Main’s results will also be made available on the Investor Relations section of Core & Main’s website prior to the call. About Core & Main Based in St. Louis, Core & Main is a leader in advancing reliable infrastructure® with local service, nationwide®. As a specialty distributor with a focus on water, wastewater, storm drainage and fire protection products and related services, Core & Main provides solutions to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets in the United States and Canada. With more than 370 locations, the company provides its customers local expertise backed by a national supply chain. Core & Main’s 5,600 associates are committed to helping their communities thrive with safe and reliable infrastructure. Visit coreandmain.com to learn more. Cautionary Note Regarding Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, without limitation, all statements other than statements of historical facts contained in this press release, including statements relating to our intentions, beliefs, assumptions or current expectations concerning, among other things, our future results of operations and financial position, business strategy and plans and objectives of management for future operations, including, among others, statements regarding expected growth, future capital expenditures, capital allocation and debt service obligations, and the anticipated impact on our business. Some of the forward-looking statements can be identified by the use of forward-looking terms such as "believes," "expects," "may," "will," "shall," "should," "would," "could," "seeks," "aims," "projects," "is optimistic," "intends," "plans," "estimates," "anticipates" or the negative versions of these words or other comparable terms. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be outside our control. We caution you that forward-looking statements are not guarantees of future performance or outcomes and that actual performance and outcomes, including, without limitation, our actual results of operations, financial condition and liquidity, and the development of the market in which we operate, may differ materially from those made in or suggested by the forward-looking statements contained in this press release. Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20260826994739/en/ Contacts Investor Relations:Landon Althoff, [email protected] Media Relations:Patrick Lunsford, [email protected]

Donaldson (DCI) came out with quarterly earnings of $1.15 per share, beating the Zacks Consensus Estimate of $1.12 per share. This compares to earnings of $1.03 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +2.68%. A quarter ago, it was expected that this maker of filtration systems would post earnings of $1.05 per share when it actually produced earnings of $1.06, delivering a surprise of +0.95%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Donaldson, which belongs to the Zacks Pollution Control industry, posted revenues of $1.06 billion for the quarter ended July 2026, surpassing the Zacks Consensus Estimate by 1.46%. This compares to year-ago revenues of $980.7 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Donaldson shares have added about 5.2% since the beginning of the year versus the S&P 500's gain of 12.2%. While Donaldson has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Donaldson was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.04 on $997.83 million in revenues for the coming quarter and $4.37 on $4.11 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Pollution Control is currently in the bottom 14% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Core & Main (CNM), another stock in the broader Zacks Industrial Products sector, has yet to report results for the quarter ended July 2026. This distributor of water and fire protection products is expected to post quarterly earnings of $0.93 per share in its upcoming report, which represents a year-over-year change of +6.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Core & Main's revenues are expected to be $2.14 billion, up 2.3% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Donaldson Company, Inc. (DCI) : Free Stock Analysis Report Core & Main, Inc. (CNM) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Deere (DE) came out with quarterly earnings of $5.1 per share, beating the Zacks Consensus Estimate of $4.79 per share. This compares to earnings of $4.75 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +6.47%. A quarter ago, it was expected that this agricultural equipment manufacturer would post earnings of $5.81 per share when it actually produced earnings of $6.55, delivering a surprise of +12.74%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Deere, which belongs to the Zacks Manufacturing - Farm Equipment industry, posted revenues of $11 billion for the quarter ended July 2026, surpassing the Zacks Consensus Estimate by 1.77%. This compares to year-ago revenues of $10.36 billion. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Deere shares have added about 24.7% since the beginning of the year versus the S&P 500's gain of 12.6%. While Deere has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Deere was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $4.47 on $10.84 billion in revenues for the coming quarter and $18.21 on $41.43 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Manufacturing - Farm Equipment is currently in the top 22% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the broader Zacks Industrial Products sector, Core & Main (CNM), has yet to report results for the quarter ended July 2026. This distributor of water and fire protection products is expected to post quarterly earnings of $0.93 per share in its upcoming report, which represents a year-over-year change of +6.9%. The consensus EPS estimate for the quarter has been revised 1.1% higher over the last 30 days to the current level. Core & Main's revenues are expected to be $2.14 billion, up 2.3% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Deere & Company (DE) : Free Stock Analysis Report Core & Main, Inc. (CNM) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Nordson (NDSN) came out with quarterly earnings of $3.25 per share, beating the Zacks Consensus Estimate of $3.09 per share. This compares to earnings of $2.73 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +5.18%. A quarter ago, it was expected that this maker of adhesives and industrial coatings would post earnings of $2.82 per share when it actually produced earnings of $2.86, delivering a surprise of +1.42%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Nordson, which belongs to the Zacks Manufacturing - General Industrial industry, posted revenues of $817.67 million for the quarter ended July 2026, surpassing the Zacks Consensus Estimate by 4.96%. This compares to year-ago revenues of $741.51 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Nordson shares have added about 26.5% since the beginning of the year versus the S&P 500's gain of 12.4%. While Nordson has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Nordson was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $3.33 on $792.5 million in revenues for the coming quarter and $11.59 on $2.98 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Manufacturing - General Industrial is currently in the top 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the broader Zacks Industrial Products sector, Core & Main (CNM), is yet to report results for the quarter ended July 2026. This distributor of water and fire protection products is expected to post quarterly earnings of $0.93 per share in its upcoming report, which represents a year-over-year change of +6.9%. The consensus EPS estimate for the quarter has been revised 1.1% higher over the last 30 days to the current level. Core & Main's revenues are expected to be $2.14 billion, up 2.3% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nordson Corporation (NDSN) : Free Stock Analysis Report Core & Main, Inc. (CNM) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Core & Main’s fourth quarter saw the company navigate a challenging demand landscape, with end market softness particularly evident in residential and certain nonresidential segments. Management credited steady municipal demand and robust execution in specialty categories such as meters and treatment plant solutions for partially offsetting these pressures. CEO Mark Witkowski highlighted, “Municipal volumes were up low to mid-single digits and continue to be a source of strength supported by steady repair and replacement activity.” The company’s ability to expand gross margins, driven by increased private label penetration and disciplined pricing, was also key to sustaining profitability as overall sales declined year on year. Is now the time to buy CNM? Find out in our full research report (it’s free). Revenue: $1.91 billion vs analyst estimates of $1.90 billion (flat year on year, 0.8% beat) Adjusted EPS: $0.56 vs analyst estimates of $0.57 (in line) Adjusted EBITDA: $226 million vs analyst estimates of $220.7 million (11.8% margin, 2.4% beat) The company reconfirmed its revenue guidance for the full year of $7.85 billion at the midpoint EBITDA guidance for the full year is $965 million at the midpoint, in line with analyst expectations Operating Margin: 9.3%, in line with the same quarter last year Market Capitalization: $9.37 billion While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. David Manthey (Baird) asked about the growth disconnect between Core & Main and its largest competitors. CEO Mark Witkowski attributed differences to end market mix and highlighted growing share in data centers and treatment plant projects. David Manthey (Baird) also pushed for clarity on cost-out program benefits. CFO Robyn Bradbury confirmed that most savings will be realized in the first three quarters of next year, supporting incremental margin improvement. Matthew Bouley (Barclays) questioned exposure to commodity inflation and price setting strategies. Witkowski said rising resin and fuel costs are embedded in guidance, with positive signs for price stability in certain product categories. Joseph Ritchie (Goldman Sachs) inquired about the EBITDA guidance range. Bradbury noted that higher inflation or weaker markets could bring results to the low end, while upside could come from pricing or improved residential demand. Matthew Johnson (UBS) asked for details on meter business growth. President Brad Cowles stated that large project wins and municipal base sales will continue to drive double-digit growth in this segment. In future quarters, the StockStory team will watch (1) Core & Main’s ability to sustain above-market growth in specialty initiatives like meters and treatment plants, (2) execution on cost reduction and margin expansion strategies as inflation and commodity costs fluctuate, and (3) the pace of greenfield expansion and integration of recent acquisitions. Trends in residential and nonresidential demand, along with developments in municipal funding, will also serve as important indicators. Core & Main currently trades at $47.77, down from $52.65 just before the earnings. At this price, is it a buy or sell? See for yourself in our full research report (it’s free for active Edge members). ALSO WORTH WATCHING: Top 5 Momentum Stocks. The best time to own a great stock is when the market is finally noticing it. These aren’t just high-quality businesses. Something is happening with them right now. Elite fundamentals meet near-term momentum — both boxes checked at the same time. Find out which stocks our AI platform is flagging this week. See this week’s Strong Momentum stocks — FREE. Get Our Strong Momentum Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,326% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today.

Wrapping up Q1 earnings, we look at the numbers and key takeaways for the industrial distributors stocks, including Core & Main (NYSE:CNM) and its peers. Supply chain and inventory management are themes that grew in focus after COVID wreaked havoc on the global movement of raw materials and components. Distributors that boast a reliable selection of products–everything from hardhats and fasteners for jet engines to ceiling systems–and quickly deliver goods to customers can benefit from this theme. While e-commerce hasn’t disrupted industrial distribution as much as consumer retail, it is still a real threat, forcing investment in omnichannel capabilities to better interact with customers. Additionally, distributors are at the whim of economic cycles that impact the capital spending and construction projects that can juice demand. The 24 industrial distributors stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 2.1% while next quarter’s revenue guidance was in line. In light of this news, share prices of the companies have held steady as they are up 3.8% on average since the latest earnings results. Formerly a division of industrial distributor HD Supply, Core & Main (NYSE:CNM) is a provider of water, wastewater, and fire protection products and services. Core & Main reported revenues of $1.91 billion, flat year on year. This print exceeded analysts’ expectations by 0.8%. Despite the top-line beat, it was still a mixed quarter for the company with a decent beat of analysts’ EBITDA estimates but full-year EBITDA guidance meeting analysts’ expectations. “I want to thank our teams across the country for their disciplined execution, which continues to advance our strategic priorities and strengthen our position with our customers,” said Mark Witkowski, CEO of Core & Main. The market seems disappointed with the results as the stock is down 4.2% since reporting and currently trades at $50.43. Is now the time to buy Core & Main? Access our full analysis of the earnings results here, it’s free. Founded in 1947, Richardson Electronics (NASDAQ:RELL) is a distributor of power grid and microwave tubes as well as consumables related to those products. Richardson Electronics reported revenues of $55.47 million, up 3.1% year on year, outperforming analysts’ expectations by 4.4%. The business had an incredible quarter with a beat of analysts’ EPS and EBITDA estimates. The market seems happy with the results as the stock is up 49.2% since reporting. It currently trades at $17.55. Is now the time to buy Richardson Electronics? Access our full analysis of the earnings results here, it’s free. Founded during the emergence of Big Oil in Texas, DXP (NASDAQ:DXPE) provides pumps, valves, and other industrial components. 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Founded in 1991, Hudson Technologies (NASDAQ:HDSN) specializes in refrigerant services and solutions, providing refrigerant sales, reclamation, and recycling. Hudson Technologies reported revenues of $60.15 million, up 8.7% year on year. This number beat analysts’ expectations by 5.2%. Taking a step back, it was a slower quarter as it produced a significant miss of analysts’ adjusted operating income estimates. The stock is down 14.3% since reporting and currently trades at $5.60. Read our full, actionable report on Hudson Technologies here, it’s free. Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. 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Core & Main, Inc. CNM used its first-quarter fiscal 2026 call to make a consistent point: municipal water infrastructure demand remains durable even as residential construction stays weak. Management paired that message with margin expansion, steady bidding activity and an unchanged full-year outlook.The setup mattered because investors were looking for signs that softer private construction or funding concerns could dent the year. Instead, executives emphasized stable demand, pricing discipline and a growing pipeline in smart utility, treatment plant and data center-related work. Chief executive officer Mark Witkowski said municipal demand remained the company’s most stable growth engine, supported by repair-and-replace work, aging infrastructure and the fact that most water infrastructure funding comes from state and local sources rather than a single federal cycle. He said that the foundation helped offset continued weakness in residential lot development.Management described nonresidential demand as mixed but stable, with healthy activity in data centers and manufacturing helping balance softer traditional commercial construction. Witkowski also pointed to fire protection as a standout category, supported by data center and multifamily activity as well as higher steel prices.The company reported first-quarter adjusted earnings of 72 cents, which topped the Zacks Consensus Estimate of 70 cents, delivering a surprise of 2.9%. CNM reported revenues of $1.91 billion, which came above the Zacks Consensus Estimate of $1.90 billion by 0.3%. Gross margin improved 50 basis points to 27.2%. Core & Main, Inc. price-consensus-eps-surprise-chart | Core & Main, Inc. Quote President Bradford Cowles spent much of the call on smart utility and treatment plant solutions, two categories that management called important municipal growth drivers. He said customers increasingly want full-project partners that can handle hardware, software, analytics, installation, project management and ongoing service.Cowles said Core & Main has been winning larger and more complex smart utility contracts, including multiyear programs, because it can integrate offerings from multiple technology partners and support the full project life cycle. He said that capability is helping the company gain share across municipalities of different sizes.Treatment plant work drew similar emphasis. Cowles said the business continues to post double-digit growth, while Witkowski later said it now represents a mid-single-digit percentage of sales. Management framed the category as a durable, less-cyclical opportunity tied to modernization, regulatory needs and broader system upgrades. Chief financial officer Robyn Bradbury said first-quarter results were in line with internal expectations, which supported the decision to reaffirm fiscal 2026 guidance. Core & Main still expects net sales of $7.8 billion to $7.9 billion and adjusted EBITDA of $950 million to $980 million.Bradbury said overall end-market volumes are still expected to be roughly flat for the year, with municipal strength offsetting a cautious view of private construction. She added that the company expects low- to mid-single-digit sales growth in the second half as comparisons ease and backlog converts.On margins, management continued to point to private-label growth, sourcing optimization, disciplined pricing and prior cost actions. Adjusted EBITDA rose to $226 million from $224 million, and adjusted EBITDA margin improved 10 basis points to 11.8%. Capital allocation was another notable theme. Bradbury said operating cash flow rose to $82 million from $77 million, while the company used $88 million to repurchase about 1.8 million shares in the quarter and another $37 million after quarter-end.Management presented those buybacks as a sign of confidence in the business and in cash generation, not as a shift away from growth spending. Witkowski said the company remains committed to greenfields and acquisitions, and the quarter included five new greenfield openings.Bradbury said net debt ended the quarter at about $2.0 billion, with leverage at 2.2 times and liquidity near $1.4 billion. That gives the company room to keep balancing repurchases, organic investment and M&A. Analyst questions centered on pricing, meters, treatment plants, data centers and the durability of the guide. In response, Bradbury said PVC pricing was stable in the quarter, and recent supplier increases had not yet flowed through revenue, though they could become a modest tailwind later in the year.A Barclays analyst asked why Core & Main’s meter business appeared firmer than some original equipment manufacturers. Cowles said the company is benefiting from large, integrated project wins, while smaller, maintenance-driven meter demand remains flatter and more exposed to soft residential conditions.Questions from Wolfe Research, Deutsche Bank and Truist also pushed on infrastructure funding and treatment plant momentum. Management said the remaining IIJA funding is still moving through state revolving funds, treatment plant demand remains broad-based, and the acquisition pipeline has picked up after a slower period. The overall tone of the call was steady rather than celebratory. Management acknowledged weak residential demand and a mixed macro backdrop, but repeatedly returned to share gains, municipal resilience and a stronger project pipeline as reasons to stay on offense.That stance also showed up in greenfield expansion, targeted investment in technical teams and continued interest in acquisitions tied to treatment plant capabilities and municipal exposure. The message coming out of the call was that Core & Main sees room to widen its reach even in a slower private construction environment. CNM carries a Zacks Rank #3 (Hold), along with a Value Score of C, Growth Score of B, Momentum Score of C and VGM Score of B. Under the Zacks framework, higher letter grades indicate stronger style characteristics, while the most favorable combinations typically pair A or B Style Scores with a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.That leaves CNM in a more balanced position than a top-ranked idea. The Growth and VGM scores point to some supportive traits, while the Zacks Rank #3 suggests a more neutral near-term signal. As Zacks notes, Rank changes are driven by earnings estimate revisions, so that reading can shift after analysts fully digest the just-reported results. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Core & Main, Inc. (CNM) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Municipal demand remains the core growth engine, driven by the nondiscretionary nature of aging water infrastructure repair and replacement cycles. Data center and manufacturing projects are providing a significant offset to traditional commercial softness, requiring complex water infrastructure for cooling and fire protection. Residential lot development remains stabilized at lower levels following a pullback in late fiscal 2025, with near-term activity constrained by interest rates and affordability. Gross margin expansion of 50 basis points was achieved through structural improvements in private label penetration, sourcing optimization, and disciplined pricing execution. The company is successfully transitioning from a product distributor to an integrated solutions provider, particularly in smart utility and treatment plant categories. National scale is being leveraged to support local relationship-driven service models, allowing the company to capture larger, multi-phase infrastructure projects. Strategic investments in technology and AI-enabled tools are being deployed to enhance customer experience and simplify complex supply chain workflows. Full-year guidance assumes flat overall end-market volumes, with municipal strength balancing a cautious outlook for private construction sectors. Management expects a record 8 to 10 greenfield location openings in fiscal 2026 to deepen penetration in high-growth geographic markets. Recent supplier price increases in PVC are expected to provide a modest revenue tailwind in the second half of the year as new bids flow through. The M&A pipeline has seen a notable uptick in activity, with several opportunities in late-stage processing across core and specialized product categories. Seasonality expectations point to slight growth in the second quarter, followed by low-to-mid single-digit growth in the second half as year-over-year comparisons ease. Geopolitical uncertainty and macroeconomic factors are identified as potential headwinds that could impact consumer confidence and interest rate trajectories. The Infrastructure Investment and Jobs Act (IIJA) funding is still largely at the state level, with less than one-third reaching municipalities, suggesting a long-term tailwind. Share repurchase activity has accelerated, with $125 million deployed fiscal year-to-date, representing approximately 80% of the total volume from the prior full year. The addition of former American Water CEO Susan Hardwick to the Board is intended to provide deeper regulated utility and customer-centric strategic perspective. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management attributed their outperformance to a focus on large, complex multi-year municipal projects rather than the residential-linked maintenance market. While the residential-driven portion of the meter market is currently flattish, the company's integrated turnkey solutions are winning high-value contracts. Growth was driven by data center completions and multifamily activity, alongside a reversal of previous steel price headwinds which have now turned positive. The segment also benefited from increased private label penetration, which supports both top-line growth and margin resilience. Management clarified that the recent slowdown in acquisitions was due to market-wide timing and 'lumpiness' rather than a change in strategy or size constraints. The current pipeline is described as very active, with a focus on adding technical expertise in treatment plants and expanding the addressable product mix. Demand is being driven by the need for increased facility efficiency and regulatory compliance rather than just new construction. The company is evolving toward a more integrated service model for treatment plants, mirroring the successful turnkey approach used in smart utility solutions.

Core & Main (CNM) came out with quarterly earnings of $0.72 per share, beating the Zacks Consensus Estimate of $0.7 per share. This compares to earnings of $0.52 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +3.60%. A quarter ago, it was expected that this distributor of water and fire protection products would post earnings of $0.48 per share when it actually produced earnings of $0.52, delivering a surprise of +8.33%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Core & Main, which belongs to the Zacks Manufacturing - Tools & Related Products industry, posted revenues of $1.91 billion for the quarter ended April 2026, surpassing the Zacks Consensus Estimate by 0.32%. This compares to year-ago revenues of $1.91 billion. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Core & Main shares have added about 1.3% since the beginning of the year versus the S&P 500's gain of 7.9%. While Core & Main has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Core & Main was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.98 on $2.18 billion in revenues for the coming quarter and $3.12 on $7.89 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Manufacturing - Tools & Related Products is currently in the bottom 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Enerpac (EPAC), is yet to report results for the quarter ended May 2026. This industrial products company is expected to post quarterly earnings of $0.49 per share in its upcoming report, which represents a year-over-year change of -3.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Enerpac's revenues are expected to be $164.5 million, up 3.7% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Core & Main, Inc. (CNM) : Free Stock Analysis Report Enerpac Tool Group Corp. (EPAC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Core & Main, Inc. (NYSE:CNM) delivered first-quarter results ahead of market expectations, prompting shares to rise about 0.7% in premarket trading. Adjusted earnings per share reached $0.72, surpassing analyst forecasts of $0.54 by $0.18. Revenue totaled $1.91 billion, slightly ahead of the $1.90 billion consensus estimate and broadly unchanged from the same period a year earlier. Gross profit increased 2.0% year-on-year to $520 million, while gross margin improved by 50 basis points to 27.2%, reflecting the company’s continued focus on profitability and operational efficiency. The specialty infrastructure distributor reaffirmed its fiscal 2026 guidance, continuing to forecast net sales of between $7.80 billion and $7.90 billion, representing anticipated growth of 2% to 3%. Core & Main also maintained its adjusted EBITDA outlook of $950 million to $980 million, with an expected adjusted EBITDA margin ranging from 12.2% to 12.4%. Net income rose 7.6% to $113 million during the quarter, while adjusted EBITDA increased 0.9% to $226 million. Management highlighted ongoing strength in municipal markets, supported by infrastructure spending and maintenance activity. “In the first quarter, we delivered solid results despite a dynamic macroeconomic environment and strong prior-year comparison,” said Mark Witkowski, CEO of Core & Main. “Municipal demand remained healthy, supported by ongoing repair-and-replace activity and infrastructure investment.” The company reported double-digit growth in its treatment plant solutions business and high-single-digit growth across smart utility product categories. Core & Main continued to invest in its network, opening five new greenfield locations during the quarter to support future growth. The company also remained active in returning capital to shareholders, spending $88 million to repurchase 1.8 million shares during the quarter. Following quarter-end, it deployed an additional $37 million to buy back approximately 0.8 million shares. Operating cash flow improved to $82 million from $77 million in the prior-year period. Core & Main ended the quarter with lower leverage, as net debt declined to $2.01 billion as of 3 May 2026, compared with $2.28 billion a year earlier. The reduction in debt, combined with steady cash generation and continued investment in expansion initiatives, leaves the company well positioned to pursue growth opportunities while maintaining financial flexibility. Core & Main is a leading specialty distributor serving the water, wastewater, storm drainage and fire protection sectors across the United States. The company supplies infrastructure products and related services to municipalities, contractors and private utilities, supporting critical water management and infrastructure projects nationwide.