Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTMoby IntelligenceWed, September 9, 2026 at 7:36 PM GMT+2 3 min readCore & Main, Inc. Q2 2027 Earnings Call Summary - MobyStrategic Performance DriversOur analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.Performance was anchored by municipal demand, which remains stable due to the non-discretionary nature of aging water infrastructure repair and evolving regulatory requirements.Data center development has emerged as a significant growth engine, nearly doubling year-over-year, while treatment plant projects have grown to a mid-single-digit percentage of the total sales mix.Treatment plant solutions delivered double-digit growth as the company successfully pivots toward higher-value specialty products and technical project support.Fire protection strength was driven by a combination of market share gains in new geographies and favorable steel pricing dynamics.Residential lot development remained the primary headwind, declining high single digits as high interest rates and affordability concerns continue to suppress new project starts.Management achieved 40 basis points of SG&A leverage by holding operating costs flat despite inflationary pressures and ongoing investments in greenfield expansion.Strategic Outlook and Guidance AssumptionsFull-year guidance assumes residential comparisons will become considerably more favorable in the second half as the company anniversaries the steep declines of the prior year.Management expects EBITDA margin expansion in the second half, particularly in the fourth quarter, driven by anticipated volume growth and continued cost discipline.The M&A pipeline has meaningfully accelerated over the last three to six months, with several opportunities now in the letter of intent (LOI) and diligence stages.Smart utility project deployments are expected to ramp up late in the fiscal year, with significant volume contributions from large-scale contracts projected for 2027.Organic growth strategy remains focused on a record number of greenfield openings this year to improve customer proximity and capture market density in underpenetrated regions.Capital Allocation and Market DynamicsExecuted record open market share buybacks for the second consecutive quarter, bringing total repurchases to approximately 25% of shares outstanding since the IPO.PVC pricing has stabilized following a period of continual decline, though management notes that current demand levels do not yet support significant price increases.The acquisition of Walker Industries in Hawaii post-quarter end serves as a template for geographic and product breadth expansion through bolt-on transactions.Refinancing transactions completed during the quarter extended debt maturities and enhanced liquidity to support both M&A and opportunistic share repurchases.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info