Core & Main, Inc.

Core & Main, Inc. announced the launch and subsequent pricing of an offering by its indirect wholly-owned subsidiary, Core & Main LP, for $750 million in Senior Notes due 2034. The notes were priced at 6.000%. The company intends to use the net proceeds to prepay a portion of its existing senior term loan due July 27, 2028, and for general corporate purposes, including investments in organic growth, operational initiatives, mergers and acquisitions, and share repurchases. The offering is expected to close around July 1, 2026.

Core & Main, Inc. held its annual meeting of shareholders on June 23, 2026. Shareholders elected three individuals to the Board of Directors to serve as Class II directors until the 2029 annual meeting. Additionally, the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for fiscal year ending January 31, 2027, was ratified. Shareholders also approved, on an advisory basis, the compensation paid to the company's named executive officers for the fiscal year ended February 1, 2026.

Core & Main, Inc.'s indirect subsidiary, Core & Main LP, has initiated an amendment to its Term Loan Credit Agreement to secure a new $800 million senior term loan. The company also plans to potentially incur an additional $750 million in senior unsecured debt. The combined proceeds are intended to refinance $1,230 million of existing senior term loan debt due in 2028 and for general corporate purposes.

Core & Main, Inc. filed its quarterly report on Form 10-Q for the period ending May 3, 2026. Net sales remained relatively flat at $1.91 billion, while net income attributable to the company increased to $108 million, or $0.57 per diluted share, up from $100 million, or $0.52 per diluted share, in the prior year period. The company's balance sheet showed total assets of $6.324 billion and total liabilities of $4.210 billion as of May 3, 2026. During the quarter, Core & Main repurchased $88 million of its Class A common stock.

Core & Main, Inc. announced its fiscal 2026 first quarter results, reporting flat net sales of $1,910 million compared to the prior year. The company saw a 7.6% increase in net income to $113 million, with diluted EPS at $0.57. Adjusted EBITDA grew 0.9% to $226 million, and gross profit increased 2.0% to $520 million, with a 50 bps expansion in gross margin to 27.2%. Core & Main also repurchased 1.8 million shares for $88 million and opened five new locations, reaffirming its full-year fiscal 2026 financial outlook.

Core & Main, Inc. announced its Annual Meeting of Shareholders will be held virtually on June 23, 2026, at 9:00 a.m. Central Time, with a record date of April 27, 2026. Shareholders will vote on the election of three Class II directors, the ratification of PricewaterhouseCoopers LLP as the independent auditor for fiscal 2026, and an advisory vote on named executive officer compensation for fiscal 2025. The company also highlighted its fiscal 2025 performance, including over $7.6 billion in net sales and $462 million in net income, alongside key corporate governance updates such as executive leadership transitions and board appointments.

Core & Main LP, an indirect wholly owned subsidiary of Core & Main, Inc., has executed Amendment No. 6 to its existing ABL Credit Agreement. This amendment significantly extends the maturity date of the $1.25 billion aggregate commitments by five years to April 9, 2031, providing the company with enhanced long-term financial flexibility and liquidity. Additionally, the agreement sees a change in the administrative and collateral agent, with Wells Fargo Bank, National Association, succeeding Citibank, N.A. The amendment also incorporates other adjustments to the covenants, aligning the credit facility with the company's ongoing financial strategy.