Core & Main Q4 Earnings Call Highlights

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Core & Main (NYSE:CNM) executives highlighted continued marketplace stock gains, borderline advancement and beardown currency procreation during the company’s fiscal fourth-quarter and full-year 2025 net call, portion besides outlining a cautious outlook for fiscal 2026 amid uncertainty successful backstage operation and pricing dynamics.

Chief Executive Officer Mark Witkowski said fiscal 2025 marked the company’s 16th consecutive twelvemonth of income growth, describing the twelvemonth arsenic 1 of “disciplined execution” contempt extremity markets that were “roughly level overall.” Core & Main reported net income of $7.65 billion, Adjusted EBITDA of $931 million, adjusted diluted EPS of $2.97, and operating currency travel of $650 million.

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Management framed results against its worth instauration targets, including extremity marketplace growth, above-market integrated growth, acquisitions, borderline enlargement and currency generation. Witkowski said municipal volumes were up low- to mid-single digits and remained a root of strength, portion residential batch improvement declined debased treble digits. Non-residential volumes were described arsenic “muted,” with spot successful information centers, thoroughfare and road projects, and multifamily offset by softness successful accepted commercialized batch development.

The institution reported 3 points of integrated above-market growth successful fiscal 2025, driven by income initiatives and geographic expansion. Witkowski cited double-digit mean regular nett income maturation successful fusible HDPE, attraction works solutions and geosynthetics, and said metre products grew 12% connected an mean regular ground successful the 4th fourth and mid-single digits for the year, pursuing a beardown prior-year comparison.

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Chief Financial Officer Robyn Bradbury said fourth-quarter nett income decreased 7% to $1.58 billion, noting the 4th included one less selling week versus the anterior year. On an mean regular nett income basis, income accrued astir 1%, supported by astir 1 constituent of integrated measurement growth. Bradbury besides said terrible wintertime upwind successful the last week of the 4th temporarily constricted operation enactment successful respective regions.

Fourth-quarter gross borderline was 27.1%, up 50 ground points twelvemonth implicit year, attributed to higher backstage statement penetration and disciplined purchasing and pricing execution. SG&A decreased 5% to $264 million, chiefly owed to little adaptable costs from the shorter 4th and benefits from outgo actions. Adjusted EBITDA successful the 4th was $167 million, down 7%, portion adjusted EBITDA borderline improved 10 ground points to 10.6%.