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Nov 02, 2025
Core & Main Q3 2025 Earnings Report
Core & Main reported stable third quarter results with modest revenue growth and improved net income.
Key Takeaways
Core & Main posted slight revenue and net income increases for Q3 FY25, supported by acquisitions and product segment growth, despite pressures from higher SG&A expenses and softer residential demand.
Revenue rose to $2.062 billion, driven by acquisitions and product demand in metering and fire protection.
Net income increased to $143 million, supported by lower interest expense.
Adjusted EPS improved to $0.89, despite higher operating costs.
Company expanded geographically and boosted its share repurchase authorization by $500 million post-quarter.
Revenue by Geographic Location
Forward Guidance
Core & Main reaffirmed its full-year fiscal 2025 guidance, expecting continued growth supported by acquisitions and infrastructure demand.
Positive Outlook
- Full-year revenue expected between $7.6B and $7.7B.
- Average daily sales growth forecasted at 4% to 5%.
- Adjusted EBITDA projected between $920M and $940M.
- Operating cash flow guided at $550M to $610M.
- Strategic initiatives and geographic expansion expected to drive future growth.
Challenges Ahead
- Residential demand remains soft.
- Increased SG&A costs due to acquisitions and personnel.
- Inflation continues to impact distribution-related expenses.
- Operating income margin under pressure from higher costs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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