Core & Main Inc. saw an increase in average daily sales in its latest quarter and its 16th consecutive fiscal year of sales growth, company officials announced Tuesday.
The waterworks and fire protection distributor — the no. 6 company on ID’s latest Big 50 list — reported $1.58 billion in sales for the quarter ending Feb. 1. Although that total was down nearly 7% year-over-year, the company noted that the latest quarter was also one week shorter than its previous Q4; on a daily average basis, sales were up 0.9%
Average sales increased in the company’s fire protection and meter businesses, but were down in both the pipes, valves and fittings and storm drainage categories, officials said.
Core & Main’s quarterly gross profit of $428 million was down 5.1% year-over-year, but its gross margin climbed 50 basis points to 27.1%. Company officials attributed that increase to its “gross margin initiatives” along with “disciplined purchasing and pricing management.”
Operating income was down 4.8% to $118 million in the quarter, but net income climbed by 9% to $73 million following a drop in interest expense and an increase in other income.
Core & Main posted $7.64 billion in net sales over its full fiscal year, an increase of 2.8% compared to the previous year. Gross profit, gross margin, operating income and net income also increased on an annual basis.
The company’s debut 2026 outlook anticipated net sales of between $7.8 billion and $7.9 billion, which would translate to sales growth of 2% and 3%, along with adjusted EBITDA of $950 to $980 million.
“We will continue to expand our offering and service capabilities in higher-growth product categories, pursue measured greenfield expansion, execute disciplined acquisitions, and invest in technology solutions to drive productivity and enhance the customer experience,” Core & Main CEO Mark Witkowski said in a statement.
The company also noted that it closed two acquisitions during the year and added 10 new branches. It has already opened five more locations since the start of its new fiscal year, including a waterworks branch in central Florida announced last week.
