Filing Flows › Core & Main (CNM) › Q2 FY27
Core & Main (CNM) Q2 FY27 earnings results (second quarter fiscal 2027)
10-Q filed Sep 9, 2026
Core & Main (CNM) reported revenue of $2.1B for the second quarter fiscal 2027 (Q2 FY27), +2% from a year earlier and +12% from the quarter before. Operating margin was 10.6%, net earnings $144M (6.7% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.1B | +12% | +2% |
| Gross profit | $573M | +10% | +2% |
| Operating profit | $227M | +28% | +7% |
| Net earnings | $144M | +33% | +7% |
| Operating cash flow | $62.0M | -24% | +82% |
| Free cash flow | $44.0M | -35% | +83% |
What changed
Revenue was $2.1B in Q2 FY27, up 2% year over year and up 12% from the previous quarter. Pipes, valves & fittings products was the largest line at 68% of revenue. Pipes, valves & fittings products added $0.03B year over year (up 2%), 60% of the total change.
Gross margin was 26.7%, unchanged from Q2 FY26. Operating profit was $0.23B, a 10.6% margin (up 0.4 points year over year). Of the extra revenue versus Q2 FY26, 27% reached operating profit, above the 10% margin then. Operating expenses fell 0% while revenue rose 2%. Net earnings were $0.14B, up 7% year over year. The effective tax rate was 22.3%.
Operating cash flow was $0.06B (up 82% year over year), 41% of net income including minority interests. Non-cash charges added back $0.05B of depreciation and amortization and $4.0M of share-based compensation. Working capital and other items used $0.14B. Capital expenditures of $0.02B left free cash flow of $0.04B.
Questions
What was Core & Main's revenue in the second quarter fiscal 2027?
Core & Main (CNM) reported revenue of $2.1B for the second quarter fiscal 2027 (Q2 FY27), +2% from a year earlier and +12% from the quarter before.
Was Core & Main profitable in the second quarter fiscal 2027?
Operating profit was $227M (10.6% of revenue) and net earnings $144M.
Source: Core & Main 10-Q on SEC EDGAR.