Recent Updates — CNM
Core & Main reported fiscal second quarter results ending August 2, 2026. Net sales increased 2.5% to $2,145 million, while net income rose 6.4% to $150 million and diluted EPS grew 10.0% to $0.77. Adjusted EBITDA reached $274 million with a margin of 12.8%. The company deployed $169 million to repurchase 3.7 million shares during the quarter, bringing year-to-date buybacks to nearly $270 million. Core & Main reaffirmed its full-year fiscal 2026 outlook, projecting net sales of $7,800 to $7,900 million and adjusted EBITDA of $950 to $980 million. The company operates in the specialty distribution industry, providing water, wastewater, storm drainage, and fire protection products and services.
Core & Main LP issued $750 million in 6.000% Senior Notes due 2034 to prepay its 2028 Senior Term Loan and for general corporate purposes. The company also entered into a Sixth Amendment to its Term Loan Credit Agreement to refinance its 2028 Senior Term Loan with a new $800 million senior term loan maturing in 2033. Core & Main, Inc. is a distributor of water, wastewater, and infrastructure products and services.
Core & Main, Inc. announced on June 25, 2026, the pricing of a $750 million aggregate principal amount of Senior Notes due 2034 offered by its indirect wholly-owned subsidiary, Core & Main LP. Core & Main, Inc. operates in the water and infrastructure distribution industry through the distribution of water, wastewater, and storm drain components and infrastructure products.
Core & Main LP, a subsidiary of Core & Main, Inc., has commenced a proposed amendment to its existing Term Loan Credit Agreement to enter into a new $800 million senior term loan. The company intends to use the proceeds from this new loan, along with approximately $750 million in potential senior unsecured debt, to refinance $1,230 million of outstanding borrowings due in 2028 and for general corporate purposes. The new senior term loan is expected to mature seven years after issuance. Closing is subject to market conditions and there is no guarantee the transactions will occur. Core & Main, Inc. is a distributor of water, wastewater, and safety products.
Core & Main, Inc. issued a press release on June 10, 2026, announcing its fiscal first quarter results for the period ended May 3, 2026. The filing includes an earnings release and an investor presentation. Core & Main, Inc. is a distributor of water, water management and water management and wastewater-related products and services.