Filing Flows › Core & Main (CNM) › Q4 FY26
Core & Main (CNM) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed Mar 24, 2026
Core & Main (CNM) reported revenue of $1.6B for the fourth quarter fiscal 2026 (Q4 FY26), -7% from a year earlier and -23% from the quarter before. Operating margin was 7.5%, net earnings $70.0M (4.4% of revenue).
Core & Main, Q4 FY26: revenue $1.6B (-7% year over year), operating margin 7.5%, net earnings $70.0M, operating cash flow $268M. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.6B | -23% | -7% |
| Gross profit | $428M | -24% | -5% |
| Operating profit | $118M | -46% | -5% |
| Net earnings | $70.0M | -49% | +9% |
| Operating cash flow | $268M | -1% | +14% |
| Free cash flow | $253M | -4% | +13% |
What changed
Revenue was $1.6B in Q4 FY26, down 7% year over year and down 23% from the previous quarter. Pipes, valves & fittings products was the largest line at 65% of revenue.
Gross margin was 27.1%, up 0.5 points from Q4 FY25. Operating profit was $0.12B, a 7.5% margin (up 0.2 points year over year). Operating expenses fell 5% while revenue fell 7%. Net earnings were $0.07B, up 9% year over year. The effective tax rate was 22.3%.
Operating cash flow was $0.27B (up 14% year over year), 367% 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 added $0.14B. Capital expenditures of $0.01B left free cash flow of $0.25B.
Questions
What was Core & Main's revenue in the fourth quarter fiscal 2026?
Core & Main (CNM) reported revenue of $1.6B for the fourth quarter fiscal 2026 (Q4 FY26), -7% from a year earlier and -23% from the quarter before.
Was Core & Main profitable in the fourth quarter fiscal 2026?
Operating profit was $118M (7.5% of revenue) and net earnings $70.0M.
Source: Core & Main 10-K on SEC EDGAR.