The earnings call presented a mixed outlook with significant net sales growth, market share gains, and strategic expansion into Canada. However, these positives were offset by challenges such as a decline in the residential market, elevated operating costs, and a downward revision in financial guidance for fiscal 2025.

Company Guidance

During the Core & Main Q2 2025 earnings call, the company provided revised guidance, adjusting its outlook due to softer residential demand and higher operating expenses. The company now anticipates net sales between $7.6 and $7.7 billion, adjusted EBITDA of $920 to $940 million, and operating cash flow of $550 to $610 million for the fiscal year. Municipal end market volumes are expected to grow in the low single digits, non-residential volumes to remain roughly flat, while residential lot development is projected to decline in the low double digits. Despite this, Core & Main achieved nearly 7% net sales growth in the quarter, with organic growth at approximately 5%, supported by strong municipal demand and strategic initiatives such as treatment plant and fusible HDPE projects. Gross margins improved to 26.8%, up from the previous year, due to private label and sourcing initiatives, although SG&A expenses increased by 13%, driven by acquisitions and inflationary pressures. The company is implementing targeted cost-out actions to improve productivity and expects to realize savings in the second half of 2025, with more substantial benefits anticipated in 2026.

Strong Net Sales Growth

Core & Main reported nearly 7% net sales growth in Q2 2025, with approximately 5% organic growth. The municipal demand remained healthy, supported by infrastructure projects.

Market Share Gains

Significant sales growth and market share gains were reported in treatment plant and fusible HDPE projects, driven by technical expertise and execution.

Gross Margin Improvement

Gross margin came in at 26.8%, up 10 basis points from Q1 and 40 basis points year over year, driven by private label and sourcing initiatives.

Positive Cash Flow and Share Repurchase

Generated $34 million in operating cash flow and repurchased $47 million of shares, reducing share count by nearly 1 million.

Canadian Expansion

Announced the acquisition of Canada Waterworks, expanding presence in the multi-billion dollar Canadian market.

Strong Adjusted EPS Growth

Adjusted diluted earnings per share increased approximately 13% to $0.87 compared to $0.77 in the prior year.

Core & Main (CNM) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

CNM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Dec 09, 2025	2025 (Q3)	0.75 / -	0.69	―	―	―
Sep 09, 2025	2025 (Q2)	0.78 / 0.87	0.61	42.62% (+0.26)
May 04, 2025	2025 (Q1)	0.52 / 0.52	0.49	6.12% (+0.03)	―	―
Mar 25, 2025	2024 (Q4)	0.36 / 0.33	0.34	-2.94% (-0.01)
Dec 03, 2024	2024 (Q3)	0.66 / 0.69	0.65	6.15% (+0.04)
Sep 04, 2024	2024 (Q2)	0.72 / 0.61	0.66	-7.58% (-0.05)
Jun 04, 2024	2024 (Q1)	0.52 / 0.49	0.5	-2.00% (-0.01)
Mar 19, 2024	2023 (Q4)	0.33 / 0.34	0.31	9.68% (+0.03)
Dec 05, 2023	2023 (Q3)	0.67 / 0.65	0.65	0.00% (0.00)
Sep 06, 2023	2023 (Q2)	0.67 / 0.66	0.67	-1.49% (-0.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CNM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Sep 09, 2025	$66.59	$49.70	-25.36%
Mar 25, 2025	$49.64	$49.52	-0.24%
Dec 03, 2024	$48.29	$55.78	+15.51%
Sep 04, 2024	$46.80	$39.40	-15.81%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Core & Main (CNM) report earnings?

Core & Main (CNM) is schdueled to report earning on Dec 09, 2025, Before Open (Confirmed).

What is Core & Main (CNM) earnings time?

Core & Main (CNM) earnings time is at Dec 09, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is CNM EPS forecast?

CNM EPS forecast for the fiscal quarter 2025 (Q3) is 0.75.

Become an Expert with TipRanks Premium

What am I Missing?

Make informed decisions based on Top Analysts' activity

Know what industry insiders are buying

Get actionable alerts from top Wall Street Analysts

Find out before anyone else which stock is going to shoot up

Get powerful stock screeners & detailed portfolio analysis

Subscribe Now See Plans & Pricing