Filing Flows › Core & Main (CNM) › Q1 FY27
Core & Main (CNM) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Jun 10, 2026
Core & Main (CNM) reported revenue of $1.9B for the first quarter fiscal 2027 (Q1 FY27), -0.1% from a year earlier and +21% from the quarter before. Operating margin was 9.3%, net earnings $108M (5.7% of revenue).
Core & Main, Q1 FY27: revenue $1.9B (-0.1% year over year), operating margin 9.3%, net earnings $108M, operating cash flow $82.0M. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.9B | +21% | -0.1% |
| Gross profit | $520M | +21% | +2% |
| Operating profit | $177M | +50% | +4% |
| Net earnings | $108M | +54% | +8% |
| Operating cash flow | $82.0M | -69% | +6% |
| Free cash flow | $68.0M | -73% | +6% |
What changed
Revenue was $1.9B in Q1 FY27, roughly flat year over year and up 21% from the previous quarter. Pipes, valves & fittings products was the largest line at 67% of revenue. Pipes, valves & fittings products lost $0.02B year over year (down 2%), 2300% of the total change.
Gross margin was 27.2%, up 0.5 points from Q1 FY26. Operating profit was $0.18B, a 9.3% margin (up 0.3 points year over year). Operating expenses grew 1% against flat revenue. Net earnings were $0.11B, up 8% year over year. The effective tax rate was 24.7%.
Operating cash flow was $0.08B (up 6% year over year), 73% of net income including minority interests. Non-cash charges added back $0.05B of depreciation and amortization and $3.0M of share-based compensation. Working capital and other items used $0.08B. Capital expenditures of $0.01B left free cash flow of $0.07B.
Questions
What was Core & Main's revenue in the first quarter fiscal 2027?
Core & Main (CNM) reported revenue of $1.9B for the first quarter fiscal 2027 (Q1 FY27), -0.1% from a year earlier and +21% from the quarter before.
Was Core & Main profitable in the first quarter fiscal 2027?
Operating profit was $177M (9.3% of revenue) and net earnings $108M.
Source: Core & Main 10-Q on SEC EDGAR.