Core & Main ($CNM) Reports Year-Over-Year Revenue Decline in Q4

Core & Main (NYSE: CNM) announced its fourth-quarter results for 2025, revealing a decline in revenue compared to a year earlier, while earnings surpassed expectations.

Core & Main reported adjusted earnings per share of $0.52 for the fourth quarter, exceeding analysts\’ expectations of $0.42. This marks an increase from the $0.51 per share recorded a year earlier. For the full year 2025, adjusted diluted earnings per share rose 6.8 percent to $2.97.

The company\’s revenue for the fourth quarter was $1.58 billion, which was below the analyst estimate of $1.6 billion. This represents a decrease from the $1.7 billion reported in the same quarter last year. For the full year 2025, net sales increased 2.8 percent to $7,647 million.

Operating income for the fourth quarter decreased by $6 million, or 4.8 percent, to $118 million compared to the previous year. For the full year 2025, operating income increased by $3 million, or 0.4 percent, to $722 million. Gross profit margin for the quarter increased by 50 basis points to 27.1 percent, while the adjusted EBITDA margin rose by 10 basis points to 10.6 percent.

For the full year, the gross profit margin increased by 30 basis points to 26.9 percent, and the adjusted EBITDA margin decreased by 30 basis points to 12.2 percent. Adjusted EBITDA for the year was up 0.1 percent to $931 million.

Core & Main repurchased 3.2 million shares for $155 million during fiscal 2025 and an additional 0.8 million shares for $39 million after the year-end.

For fiscal 2026, Core & Main projects net sales between $7,800 million and $7,900 million, reflecting growth of 2 percent to 3 percent. The company anticipates adjusted EBITDA between $950 million and $980 million, with an adjusted EBITDA margin ranging from 12.2 percent to 12.4 percent. Operating cash flow is expected to be 60 percent to 70 percent of adjusted EBITDA.

Mark Witkowski, CEO of Core & Main, stated, “Fiscal 2025 marked our 16th consecutive year of sales growth, a result that reflects the resilience of our business, the long-term strength of our end markets and the disciplined execution by our teams across the country.”

In pre-market trading, Core & Main, Inc. (NYSE: CNM) is down 2.93 percent to a price of 46.99. This marks a decrease of 1.42 from the previous close of 47.40. The stock has a 52-week low of 43.18 and high of 67.18.