$FERG · Ferguson Enterprises Inc. /DE/
Ferguson reported Q3 FY2026 (ended September 30, 2026) net sales of $9.026B, up 9.5% year over year, including 7.0% organic growth. Adjusted diluted EPS was $3.43, up 7.9%, while GAAP diluted EPS was $3.08, down 4.9% due to prior-year tax benefits. Gross margin of 30.9% fell 40 bps, and adjusted operating profit rose 8.9% to $962M. The company raised full-year guidance to ~7% net sales growth and completed eleven acquisitions year-to-date with ~$1.5B aggregate annualized revenue.
- Net sales of $9.026B rose 9.5% YoY, including 7.0% organic growth.
- Adjusted diluted EPS of $3.43 rose 7.9%; GAAP EPS of $3.08 fell 4.9%.
- Gross margin of 30.9% declined 40 bps from prior year.
- Full-year net sales guidance raised to ~7% growth from mid-single digit.
- Eleven acquisitions year-to-date with ~$1.5B aggregate annualized revenue, including FloWorks.
Extended-hours last trade of $237.09, up 1.45% vs the $233.70 regular close, signaling a positive initial reaction to the guidance raise and earnings beat.
Ferguson delivered a beat-and-raise quarter with 7% organic growth and raised full-year guidance, signaling continued market-share gains despite a mixed construction backdrop.
Ferguson's 15% non-residential sales growth and 6% residential growth show share gains in a mixed construction market, outperforming peers amid weak new construction and RMI softness.
Residential end markets remain pressured with weak new construction and soft RMI; Canada sales fell 4.5% on divestments and FX. Net debt to adjusted EBITDA rose to 1.7x after the FloWorks acquisition.