By Adriano Marchese
Core & Main posted higher first-quarter profit as steady municipal demand and growth in key product categories helped offset a flat sales environment.
For the three months ended May 3, the distributor of water infrastructure products on Wednesday posted net income of $108 million, or 57 cents a share, compared with $100 million, or 52 cents a share, in the same quarter a year ago.
According to FactSet, analysts were expecting 53 cents a share.
Sales remained unchanged from the prior-year period at $1.91 billion, beating expectations of a slight decline to $1.89 billion.
Chief Executive Mark Witkowski said that municipal demand remained healthy in the quarter, driven by repair-and-replace work and infrastructure investment, while the company saw strong growth in its treatment plant solutions and smart utility sales initiatives.
The company reaffirmed its targets for the year, including for net sales of between $7.8 billion and $7.9 billion, or growth of 2% to 3%.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
June 10, 2026 08:09 ET (12:09 GMT)
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