$CNM

Core & Main, Inc.

CIK:0001856525|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 02, 2026	Aug. 03, 2025	Aug. 02, 2026	Aug. 03, 2025
Income Statement [Abstract]
Net sales	$ 2,145	$ 2,093	$ 4,055	$ 4,004
Cost of sales	1,572	1,533	2,962	2,934
Gross profit	573	560	1,093	1,070
Operating expenses:
Selling, general and administrative	301	302	600	595
Depreciation and amortization	45	45	89	91
Total operating expenses	346	347	689	686
Operating income	227	213	404	384
Interest expense	32	31	59	61
Other expense	(2)	0	(2)	0
Income before provision for income taxes	193	182	343	323
Provision for income taxes	43	41	80	77
Net income	150	141	263	246
Less: net income attributable to non-controlling interests	6	7	11	12
Net income attributable to Core & Main, Inc.	$ 144	$ 134	$ 252	$ 234
Earnings per share:
Basic (in dollars per share)	$ 0.77	$ 0.71	$ 1.34	$ 1.23
Diluted (in dollars per share)	$ 0.77	$ 0.70	$ 1.34	$ 1.22
Basic (shares)	186,639,659	189,904,002	187,507,875	189,855,388
Diluted (shares)	193,359,334	198,302,610	194,519,350	198,503,146

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Aug. 02, 2026	Aug. 03, 2025
Cash Flows From Operating Activities:
Net income	$ 263	$ 246
Adjustments to reconcile net cash from operating activities:
Depreciation and amortization	97	96
Equity-based compensation expense	7	10
Deferred income tax expense	13	7
Other	6	7
Changes in assets and liabilities:
(Increase) decrease in receivables	(397)	(300)
(Increase) decrease in inventories	(155)	(152)
(Increase) decrease in other assets	(1)	(5)
Increase (decrease) in accounts payable	301	196
Increase (decrease) in accrued liabilities	10	6
Cash Flows From Investing Activities:
Capital expenditures	(32)	(23)
Investment in tax advantaged limited partnerships	(17)	0
Other	(7)	(5)
Cash Flows From Financing Activities:
Repurchase and retirement of equity interests	(257)	(47)
Distributions to non-controlling interest holders	(4)	(4)
Payments pursuant to Tax Receivable Agreements	(42)	(18)
Borrowings on asset-based revolving credit facility	0	100
Repayments on asset-based revolving credit facility	0	(93)
Issuance of long-term debt	929	0
Repayments of long-term debt	(617)	(12)
Payment of contingent consideration	(19)	0
Other	14	8
Net cash provided by operating activities	144	111
Net cash used in investing activities	(56)	(28)
Net cash provided by (used in) financing activities	4	(66)
Increase in cash and cash equivalents	92	17
Cash and cash equivalents at the beginning of the period	220	8
Cash and cash equivalents at the end of the period	312	25
Cash paid for interest (excluding effects of interest rate swap)	59	49
Cash paid for income taxes	$ 40	$ 69

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Aug. 02, 2026	Feb. 01, 2026
Current assets:
Cash and cash equivalents	$ 312	$ 220
Receivables, net of allowance for credit losses of $26 and $22, respectively	1,439	1,048
Inventories	1,137	986
Prepaid expenses and other current assets	49	48
Total current assets	2,937	2,302
Property, plant and equipment, net	192	178
Operating lease right-of-use assets	297	287
Intangible assets, net	759	823
Goodwill	1,921	1,920
Deferred Income Tax Assets, Net	552	565
Other assets	51	10
Total assets	6,709	6,085
Current liabilities:
Current maturities of long-term debt	17	24
Accounts payable	815	512
Accrued compensation and benefits	89	123
Current operating lease liabilities	79	75
Other current liabilities	190	140
Total current liabilities	1,190	874
Long-term debt	2,432	2,124
Non-current operating lease liabilities	221	214
Deferred income taxes	90	89
Tax receivable agreement liabilities	644	680
Other liabilities	28	30
Total liabilities	4,605	4,011
Commitments and contingencies
Additional paid-in capital	1,242	1,246
Retained earnings	784	755
Accumulated other comprehensive income (loss)	3	(6)
Total stockholders’ equity attributable to Core & Main, Inc.	2,031	1,997
Non-controlling interests	73	77
Total stockholders’ equity	2,104	2,074
Total liabilities and stockholders’ equity	6,709	6,085
Class A Common Stock
Current liabilities:
Common stock	2	2
Class B Common Stock
Current liabilities:
Common stock	$ 0	$ 0