Core & Main Inc (NYSE:CNM) reported upbeat earnings for the second quarter on Wednesday.

The company posted quarterly earnings of 94 cents per share which beat the analyst consensus estimate of 92 cents per share. The company reported quarterly sales of $2.145 billion which beat the analyst consensus estimate of $2.136 billion.

Core & Main affirmed its FY2026 sales guidance of $7.800 billion to $7.900 billion.

“We delivered growth across sales, adjusted EBITDA and earnings per share during the second quarter, while momentum continues to build across the business” said Mark Witkowski, Chief Executive Officer of Core & Main. “Municipal demand remained a source of strength. Fire protection and large capital projects, including treatment plants and data centers, delivered strong growth and we are encouraged by the opportunities emerging across our acquisition pipeline. These trends support our confidence in the second half and reaffirmed full-year outlook.”

Core & Main shares closed at $41.60 on Wednesday.

These analysts made changes to their price targets on Core & Main following earnings announcement.

  • Baird analyst David Manthey maintained the stock with an Outperform rating and lowered the price target from $66 to $57.
  • Barclays analyst Matthew Bouley maintained the stock with an Overweight rating and cut the price target from $62 to $61.

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