Key Points – Core & Main reaffirmed fiscal 2026 guidance after a first quarter that showed steady sales and modest profit growth.
Net sales were $1.9 billion, adjusted EBITDA rose to $226 million, and adjusted EPS increased 6% to $0.72. – Municipal demand remained the company’s main growth engine, driven by aging water infrastructure, repair and replacement activity, and non-discretionary spending
Management said it does not expect a federal funding “cliff” from infrastructure programs because state and local funding remains the dominant source. – Residential markets stayed weak, but non-residential and specialty areas were more resilient. Data centers, manufacturing, fire protection, smart utility, and treatment plant projects helped offset softness in traditional residential and commercial construction. – Med-tech stock Conmed dips ahead of big Q4 report…opportunity? Core & Main (NYSE:CNM) reaffirmed its fiscal 2026 outlook after reporting first-quarter results that management said reflected resilient municipal demand, disciplined pricing and margin initiatives, despite continued pressure in residential lot development.
The water, wastewater, storm drainage and fire protection products distributor reported first-quarter net sales of $1.9 billion, roughly in line with the prior year. Adjusted EBITDA was $226 million, up 1% year over year, while adjusted diluted earnings per share rose about 6% to $0.72 from $0.68 a year earlier. Chief Executive Officer Mark Witkowski said the company delivered “a solid start to fiscal 2026,” citing “disciplined execution and the underlying resilience” of the business.