Core & Main Q2 Results Mixed, Organic Growth Limited, Truist Says

03:19 PM EDT, 09/09/2026 (MT Newswires) -- Core & Main's (CNM) Q2 results were mixed relative to Street expectations, with limited organic growth despite some progress in selling, general and administrative costs, Truist Securities said Wednesday in a note. The stock has been particularly weak the last several months amid soft mergers and acquisition activity and end-market weakness. Core & Main reiterated guidance for the new fiscal year. The company expects revenue between $7.8 billion and $7.9 billion, versus Street expectations of $7.84 billion. It expects adjusted EBITDA between $950 million and $980 million, compared with Street estimates of $970 million. Management noted positive municipal demand, along with capital projects and fire protection, with some organic growth seen in the quarter, according to the note. Truist maintained a hold rating on Core & Main with a $50 price target. Shares of the company were down more than 5% in Wednesday trading. Price: 41.71, Change: -2.36, Percent Change: -5.34