Summary
Ferguson Enterprises Inc. reported a solid performance for the five months ending December 31, 2025, with net sales increasing by 4.5% to $12.8 billion, driven by price inflation and acquisitions. Operating profit saw a substantial increase of 20.0%, reflecting effective management actions to capture value and operating leverage. Diluted earnings per share rose significantly by 26.5% to $4.01, supported by higher net income and the impact of share repurchases. The company's U.S. segment remains the primary driver of growth, with strong performance in non-residential markets boosted by waterworks and commercial/mechanical projects. While residential markets experienced a slight decline due to softer housing starts and RMI activity, the overall business demonstrated resilience. Ferguson continues to execute its growth strategy, including strategic acquisitions, and maintain a strong liquidity position with significant undrawn debt facilities, positioning it well for future investments and shareholder returns.
Key Highlights
- 1Net sales increased by 4.5% to $12.8 billion for the five months ending December 31, 2025, primarily due to price inflation and acquisitions.
- 2Operating profit grew by 20.0% to $1.1 billion, indicating improved operational efficiency and value capture.
- 3Diluted earnings per share (EPS) rose 26.5% to $4.01, demonstrating strong profitability and the positive impact of share repurchases.
- 4The United States segment led the growth, with non-residential markets up 11%, driven by waterworks and commercial/mechanical projects.
- 5Residential markets saw a slight decrease of 1%, attributed to softer housing starts and RMI activity.
- 6The company maintained a strong liquidity position with $2.4 billion in available liquidity from undrawn debt facilities.
- 7Ferguson paid $326 million in dividends and repurchased $407 million in shares during the period, returning capital to shareholders.