Core & Main Earnings Call Transcripts
Fiscal Year 2027
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Q1 results were solid with flat sales, margin expansion, and strong cash flow, driven by municipal, data center, and treatment plant demand. Guidance for the year is reaffirmed, with growth expected to accelerate in H2 as backlogs release and end markets stabilize.
Fiscal Year 2026
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The meeting covered director elections, auditor ratification, and executive compensation approval, with all proposals passing. Shareholders participated via a virtual platform, and risks related to forward-looking statements were noted. Final voting results will be filed on Form 8-K.
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Delivered 16th consecutive year of sales growth, expanding gross margins and generating strong cash flow. Fiscal 2026 guidance anticipates stable municipal demand, flattish non-residential, and a mid-single digit decline in residential, with continued investments in growth and share repurchases.
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Q3 net sales rose 1% to $2.1B, with gross margin up 60 bps to 27.2% and adjusted EPS up 3%. Municipal and non-residential strength offset residential softness, while cost actions and private label growth supported margins. Full-year guidance was reaffirmed.
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Net sales grew 7% in Q2 2025, driven by municipal and non-residential strength, while residential demand weakened, prompting a lowered full-year outlook. Gross margin improved, but higher SG&A and inflation pressured margins. Strategic investments and M&A continue to support long-term growth.
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Record Q1 results with $1.9B net sales and $224M adjusted EBITDA, driven by municipal and non-residential growth, share gains, and strong execution. Full-year guidance reaffirmed, with flat to slightly positive pricing and margin expansion expected despite macro uncertainties.
Fiscal Year 2025
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Leadership transition announced alongside record sales and EBITDA for fiscal 2024, driven by strong municipal demand, acquisitions, and private label growth. Fiscal 2025 guidance calls for continued sales and margin expansion, with a stable pricing environment and robust M&A pipeline.
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Record Q3 sales and Adjusted EBITDA were driven by organic growth and acquisitions, with strong municipal and non-residential demand. Gross margin expanded sequentially, and full-year guidance was raised. The company remains well-positioned for continued growth, supported by robust cash flow and a healthy M&A pipeline.
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Net sales reached a record $1.96B, up 6% year-over-year, driven by acquisitions despite weather-related project delays and softer end market volumes. Guidance for 2024 was lowered, but gross margins are expected to stabilize, and M&A remains a key growth driver.
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Record Q1 net sales rose 11% year-over-year, driven by organic growth and acquisitions, with strong momentum in residential and non-residential markets. Gross margin declined to 26.9% amid competitive pressures, but guidance for FY2024 was raised, reflecting confidence in continued growth and successful integration of recent acquisitions.