01:01 PM EDT, 03/23/2026 (MT Newswires) -- Core & Main ( CNM ) may guide fiscal 2026 core profit below Wall Street's estimates, with geopolitical risks possibly warranting an even more conservative outlook from management, RBC Capital Markets said in a note sent Monday.

The water, sewer and fire protection product distributor is set to release its fourth-quarter and fiscal 2025 results on Tuesday.

The company may set its full-year earnings before interest, taxes, depreciation, and amortization guidance in the range of $950 million to $1 billion, with the midpoint below the current FactSet-polled consensus of $991 million, according to RBC analysts, including Mike Dahl. The brokerage is looking for $982 million.

"This may not be a popular opinion but given the uncertainty injected by recent geopolitical events (higher rates/energy/diesel and potential for shakier growth prospects), we also think a more conservative range could be even lower if (management) opts to hedge," Dahl wrote.

"In our view, that could make for a tough day on the print but may better serve (the company) by setting an appropriate range that could have actual upside," Dahl said.

President Donald Trump said the US will not attack Iran's energy infrastructure for five days amid ongoing talks between the two countries. Iran's Foreign Ministry reportedly denied that Tehran was in talks with Washington.

For fiscal 2026, RBC is looking for 2026 sales growth of 3% year over year, compared with the consensus view that it put at a 4% rise. Unfavorable weather may negatively impact Core & Main's ( CNM ) first-quarter performance, Dahl said.

RBC is projecting fourth-quarter adjusted EBITDA of $161 million on sales of $1.56 billion, below Wall Street's estimates of $166 million and $1.59 billion, respectively.

Core & Main ( CNM ) shares were up 2.9% intraday Monday, but are down 6.2% year-to-date.

Price: 48.79, Change: +1.39, Percent Change: +2.93