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Core & Main Slips After Preliminary Q3 Update Narrows EBITDA Outlook

Investivoq PriceTracker

Core & Main, Inc. (CNM) is down 3.0% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is the company’s preliminary third-quarter update, which kept the sales outlook intact but reduced the top end of full-year adjusted EBITDA guidance. Investors also appear to be reacting to signs of margin pressure from higher transportation costs and softer-than-expected residential lot development and light commercial activity.

Details:

  • Core & Main released preliminary fiscal third-quarter results ahead of an investor conference, pointing to net sales of about $2.12 billion to $2.13 billion and adjusted EBITDA of $267 million to $275 million.
  • The company narrowed its fiscal 2026 adjusted EBITDA outlook to $950 million to $960 million, versus its earlier range of $950 million to $980 million, while keeping its net sales outlook at $7.8 billion to $7.9 billion.
  • Management said third-quarter profitability was affected by higher transportation costs and investments in greenfield locations intended to support longer-term growth.
  • The outlook update also cited stable municipal demand but softer-than-anticipated residential lot development and light commercial activity, which may have overshadowed news of acquisitions and record share repurchases.

    • Sources:

    Core & Main, U.S. Securities and Exchange Commission

    Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

    $CNM Insider Trading Activity

    CNM Insider Trades

    $CNM insiders have traded $CNM stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.

    Here’s a breakdown of recent trading of $CNM stock by insiders over the last 6 months:

    • JAMES D HOPE purchased 2,067 shares for an estimated $95,110

    To track insider transactions, check out Investivoq's insider trading dashboard. You can access data on insider stock transactions through the Investivoq API insider transaction endpoint.

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    $CNM Hedge Fund Activity

    We have seen 232 institutional investors add shares of $CNM stock to their portfolio, and 258 decrease their positions in their most recent quarter.

    Here are some of the largest recent moves:

    • FMR LLC added 4,488,376 shares (+50.1%) to their portfolio in Q3 2026, for an estimated $186,177,836
    • D. E. SHAW & CO., INC. added 2,100,999 shares (+84.8%) to their portfolio in Q2 2026, for an estimated $101,373,201
    • SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 2,068,088 shares (+inf%) to their portfolio in Q2 2026, for an estimated $99,785,246
    • NEUBERGER BERMAN GROUP LLC added 1,840,403 shares (+352.6%) to their portfolio in Q2 2026, for an estimated $88,799,444
    • INTERVAL PARTNERS, LP removed 1,550,693 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $74,820,937
    • JPMORGAN CHASE & CO added 1,426,181 shares (+inf%) to their portfolio in Q2 2026, for an estimated $68,813,233
    • SELECT EQUITY GROUP, L.P. removed 1,413,948 shares (-19.5%) from their portfolio in Q2 2026, for an estimated $68,222,991

    To track hedge funds' stock portfolios, check out Investivoq's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Investivoq API 13F endpoint.

    $CNM Congressional Stock Trading

    Members of Congress have traded $CNM stock 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.

    Here’s a breakdown of recent trading of $CNM stock by members of Congress over the last 6 months:

    • REPRESENTATIVE APRIL MCCLAIN DELANEY has traded it 2 times. They made 0 purchases and 2 sales worth up to $265,000 on 08/25, 06/12.

    To track congressional stock trading, check out Investivoq's congressional trading dashboard. You can access data on congressional stock trades through the Investivoq API Congress trades endpoint.

    This article is not financial advice. See Investivoq's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.