Filing Flows › Core & Main (CNM) › Q2 FY27 › vs Q2 FY26
Core & Main (CNM) Q2 FY27 vs Q2 FY26 (year over year)
Core & Main's revenue rose $52.0M (+2%) from $2.1B in Q2 FY26 to $2.1B in Q2 FY27. The biggest changes: Pipes, valves & fittings products +$31.0M (+2%); Fire protection products +$21.0M (+14%); Storm drainage products −$1.0M (-0.3%). Gross margin 26.7% against 26.8% (-0.0 pts).
Core & Main, Q2 FY27: revenue $2.1B (+2% year over year), operating margin 10.6%, net earnings $144M, operating cash flow $62.0M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q2 FY27 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 26.7% | 26.8% | -0.0 pts |
| Operating margin | 10.6% | 10.2% | +0.4 pts |
| Net margin | 6.7% | 6.4% | +0.3 pts |
| Free cash flow margin | 2.1% | 1.1% | +0.9 pts |
Every line
| Line | Q2 FY27 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Pipes, valves & fittings products | $1.5B | $1.4B | $31.0M | +2% |
| Storm drainage products | $334M | $335M | −$1.0M | -0.3% |
| Fire protection products | $176M | $155M | $21.0M | +14% |
| Smart utility products | $174M | $173M | $1.0M | +0.6% |
| Revenue | $2.1B | $2.1B | $52.0M | +2% |
| Gross profit | $573M | $560M | $13.0M | +2% |
| Cost of revenue | $1.6B | $1.5B | $39.0M | +3% |
| Operating profit | $227M | $213M | $14.0M | +7% |
| Operating expenses | $346M | $347M | −$1.0M | -0.3% |
| Pre-tax earnings | $193M | $182M | $11.0M | +6% |
| Other expense, net | $34.0M | $31.0M | $3.0M | +10% |
| SG&A | $301M | $302M | −$1.0M | -0.3% |
| Other operating costs | $45.0M | $45.0M | $0 | 0% |
| Net earnings | $144M | $134M | $10.0M | +7% |
| Minority interests | $6.0M | $7.0M | −$1.0M | -14% |
| Income tax | $43.0M | $41.0M | $2.0M | +5% |
| Depreciation & amortization | $50.0M | $48.0M | $2.0M | +4% |
| Share-based compensation | $4.0M | $5.0M | −$1.0M | -20% |
| Working capital & other | $136M | $153M | −$17.0M | -11% |
| Operating cash flow | $62.0M | $34.0M | $28.0M | +82% |
| Free cash flow (OCF − capex) | $44.0M | $24.0M | $20.0M | +83% |
| Capital expenditures | $18.0M | $10.0M | $8.0M | +80% |
Questions
How much did Core & Main's revenue grow year over year in Q2 FY27?
Core & Main's revenue rose $52.0M (+2%) from $2.1B in Q2 FY26 to $2.1B in Q2 FY27.
What drove Core & Main's revenue change in Q2 FY27?
Pipes, valves & fittings products +$31.0M (+2%); Fire protection products +$21.0M (+14%); Storm drainage products −$1.0M (-0.3%).