Core & Main Inc. has entered into a definitive agreement to acquire Pioneer Supply, a distributor of water, wastewater and storm drainage products with two branch locations in Moore, Oklahoma, and Weatherford, Texas. Founded in 1963, Pioneer Supply employs a team of 25 sales and support specialists and generated approximately $18 million in revenue last fiscal year across municipal, residential and non-residential end markets. The acquisition will broaden Core & Main’s footprint in the Southwest, adding to its existing 370 U.S. branches and complementing its full-service offering to municipalities and contractors. Core & Main President Brad Cowles commented that integrating Pioneer’s product portfolio and local customer relationships should drive incremental organic growth of 5%–7% in the Texas–Oklahoma region over the next 12 months.

In the past six weeks, Wall Street analysts covering Core & Main have raised full-year adjusted EPS estimates by an average of 4.5% and revenue forecasts by 2.8%, driven by stronger municipal infrastructure spending and improved supply-chain efficiencies. Consensus estimates now call for 12% year-over-year revenue growth and a 15% increase in net income for the fiscal year ending September. Eight out of ten analysts have upgraded their ratings, citing enhanced margin visibility from recent pricing actions and the accretive impact of bolt-on acquisitions like Pioneer Supply. Continued upward revisions to free cash flow projections—now pegged at $220 million—underscore the potential for increased share repurchases or debt reduction, factors likely to support Core & Main’s valuation in the near term.