Core & Main, Inc. reported fiscal 2026 second quarter sales of US$2,145 million and net income of US$144 million, reaffirmed full-year net sales guidance of US$7.80–US$7.90 billion, accelerated share repurchases under its existing program, and said its acquisition pipeline is more active and progressing to letters of intent. Management emphasized using a strong balance sheet and cash generation to fund both M&A aimed at expanding its core waterworks and fire protection footprint and ongoing buybacks, reinforcing its focus on scaling the business while reducing the share count. The company's narrative projects US$8.6 billion in revenue and US$647.2 million in earnings by 2029, yielding a US$60.56 fair value estimate. Some of the lowest estimating analysts assume only about 3 percent annual revenue growth to roughly US$8.4 billion and earnings near US$637 million by 2029, citing concerns about digital disruption and margin pressure. The main risk remains a slowdown in construction or municipal project activity, which could expose Core & Main's higher debt load.
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Core & Main Inc