Full-Time
Distributes water and wastewater infrastructure products
No salary listed
West Columbia, SC, USA
In Person
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Core & Main distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, utility contractors, and industrial customers across the United States. With more than 350 branches and about 5,500 associates, it combines a national supply chain with local expertise to support both new construction and maintenance of aging infrastructure. Its product range includes pipes, valves, fittings, and other critical components for water and wastewater systems, delivered through a wide distribution network and supported by value-added services. The company differentiates itself by its large nationwide footprint paired with deep local knowledge, offering reliable access to a broad catalog of essential infrastructure materials. Core & Main's goal is to help communities stay safe and sustainable by ensuring reliable, long-term access to materials and services for water, wastewater, storm drainage, and fire protection projects.
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Atlanta, Georgia
Founded
1974
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Health Insurance
Dental Insurance
Vision Insurance
Health Savings Account/Flexible Spending Account
401(k) Retirement Plan
Professional Development Budget
Tuition Reimbursement
Core & Main, a specialty distributor of infrastructure products, has announced a $750 million senior notes offering due 2034 through its subsidiary Core & Main LP. The offering is led by the company's indirect wholly-owned subsidiary. Core & Main plans to use the proceeds to prepay part of its existing senior term loan due July 2028 and for general corporate purposes, including organic growth investments, operational initiatives, mergers and acquisitions, and share repurchases aligned with its capital allocation strategy. The notes will be guaranteed by Core & Main's parent companies and future domestic subsidiaries that are borrowers or guarantors under its senior secured credit facilities. The offering will be made to qualified institutional buyers under Rule 144A and to investors outside the United States under Regulation S.
Core & Main has reported first-quarter fiscal 2026 results showing net income rising 7.6% to $113 million and diluted earnings per share increasing 9.6% to $0.57. Net sales remained flat at $1.91 billion, with steady municipal demand offsetting volume declines in other areas. The company expanded its gross margin by 50 basis points to 27.2%. The water infrastructure distributor opened five new locations during the quarter and deployed $88 million to repurchase 1.8 million shares, with an additional $37 million in buybacks after the period ended. Core & Main has reaffirmed its full-year fiscal 2026 outlook. The company distributes water, wastewater, storm drainage and fire protection products across the United States, focusing on margin expansion and supporting complex utility projects.
Core & Main reported first-quarter earnings per share of $0.72, beating analyst estimates of $0.54 by $0.18. Revenue reached $1.91 billion, slightly above the $1.90 billion consensus estimate and flat compared to the same quarter last year. The specialty distributor reaffirmed its full-year fiscal 2026 outlook, projecting net sales of $7.80 billion to $7.90 billion, representing 2% to 3% growth. Adjusted EBITDA is expected between $950 million and $980 million. Gross profit increased 2% to $520 million, whilst net income rose 7.6% to $113 million. The company deployed $88 million to repurchase 1.8 million shares during the quarter. Core & Main opened five new locations and generated $82 million in operating cash flow. Net debt decreased to $2.01 billion from $2.28 billion in the prior year period.
Seven companies from the St. Louis area made Fortune Magazine's 2026 Fortune 500 list, which ranks America's largest corporations by revenue. The list represents companies generating $21 trillion in combined revenue and employing 30.5 million people worldwide. Centene led regional firms at number 18, improving five spots from last year with $194.8 billion in revenue. Other St. Louis-area companies included Reinsurance Group of America (185), Emerson Electric (239), Edward Jones (268), Graybar Electric (373), Post Food Consumer Products (458) and Core & Main (483). Post Food Consumer Products, Core & Main and Reinsurance Group of America saw notable ranking improvements. This marks the second consecutive year all seven companies made the list. Amazon topped the overall Fortune 500 after Walmart's 13-year run.
Core & Main has raised its free cash flow margin by 8.9 percentage points over five years whilst strengthening its position in water infrastructure distribution. The company participated in water industry conferences across Kentucky, North Carolina and New Jersey in early May 2026, engaging with municipalities and operators. The improved cash generation supports ongoing share repurchases under a $1 billion authorisation, with $349.4 million already deployed. Core & Main's investment case hinges on long-term US water infrastructure demand and its nationwide distribution network, though execution risks remain under relatively new leadership. Analysts' baseline projections expect $8.6 billion revenue and $647.2 million earnings by 2029, requiring 4.2% annual revenue growth. More optimistic forecasts suggest $9.6 billion revenue and $706.6 million earnings by 2028, assuming successful acquisitions offset risks from digital procurement and changing infrastructure demand.