The water infrastructure products distributor reaffirmed its fiscal 2026 outlook after 1Q net income climbed nearly 8% despite flat year-over-year sales.
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The infrastructure supplies distributor’s former CEO has retired as executive chairman, and the company has named a successor, along with another board member appointment.
The 2025 gain was despite one fewer selling week than 2024 for the infrastructure supplies distributor.
The 63-year-old company will expand Core & Main's coverage in Texas and Oklahoma.
Despite soft residential demand the company reaffirmed its full year outlook.
The addition of the Canadian water, wastewater and storm drainage product distributor complements Core & Main's existing footprint.
Core & Main's sales in PVF, storm drainage and meter products increased primarily due to higher volumes and acquisitions.
The company announced a leadership transition for its CEO and CFO, alongside its 4Q financial results, which highlight strong sales growth and increased gross profit.
The company's net profit declined 11.4% year-over-year, but it raised its full-year outlook.
They'll be the 10th and 11th deals in 2024 for the infrastructure and industrial supplies distributor.
Acquisitions drove sales growth while lower customer activity and adverse weather hurt profitability.
In August alone, Core & Main has announced two pending deals and another that completed.
Core & Main expands into Southeast U.S. with its second announced acquisition in August.
Core & Main will add a water and wastewater products distributor in Ontario to realize opportunities in a billion-dollar Canadian market.
Recent acquisitions drove most of the growth, more than doubling that of 4Q23.
Waterworks and industrial supplies distributor Core & Main will expand high-density polyethylene product capacity with the addition of GSC.
Core & Main plans to expand its product offering and service capabilities in the underground utility industry.
The PVF supplies distributor’s November-January sales increased 4.8% year-over-year.
The acquisition of ACF West will extend Core & Main's distribution reach and enhance its geosynthetic product and service offerings.
Infrastructure supplies distributor Core & Main will extend its reach and expand product range with the addition of Denver-based Dana Kepner.
