Core & Main, Inc. reported a net sales increase of 2.8% for the fiscal year ending February 1, 2026, reaching $7.647 billion compared to $7.441 billion in the previous fiscal year. The growth was primarily driven by a 4.8% rise in average daily net sales, attributed to higher volumes and acquisitions, despite one less selling week in the fiscal year. The company’s gross profit also saw an increase of 4.0%, totaling $2.059 billion, with a gross profit margin of 26.9%, up from 26.6% in the prior year. This improvement was largely due to effective margin initiatives and disciplined purchasing strategies.
In terms of operational changes, Core & Main expanded its footprint through strategic acquisitions, including Pioneer Supply LLC and Canada Waterworks Inc., which were completed in early 2026 and late 2025, respectively. The company has been actively pursuing growth through acquisitions, with a total transaction value of $76 million in fiscal 2025, following $769 million in fiscal 2024. As of February 1, 2026, Core & Main operated over 370 branch locations across the U.S. and Canada, serving a diverse customer base of over 60,000 clients.
The company’s workforce also saw growth, with approximately 5,600 employees as of February 1, 2026. Core & Main's strategic focus on enhancing its product offerings and expanding its geographic reach is evident in its balanced sales mix, with 44% of net sales derived from municipal markets, 38% from non-residential, and 18% from residential sectors. The company continues to invest in its workforce and technology to improve service delivery and operational efficiency.
Looking ahead, Core & Main anticipates continued growth driven by favorable market conditions, including increased federal infrastructure investment as a result of the Infrastructure Investment and Jobs Act, which allocated $55 billion for water infrastructure projects. However, the company also faces challenges such as fluctuating interest rates and potential supply chain disruptions that could impact its operational performance. The management remains optimistic about leveraging its competitive advantages to navigate these challenges and capitalize on growth opportunities in the infrastructure sector.
About Core & Main, Inc.
Core & Main is a leading specialty distributor of water, wastewater, storm drainage, and fire protection products and services. Serving municipalities, contractors, and private water companies across the U.S., it offers a broad portfolio of over 225,000 products. Its business model combines extensive local branch networks, technical expertise, supply chain relationships, and strategic acquisitions to support infrastructure construction, repair, and maintenance.
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