Skip to main content
Grafa
Industrials
Ferguson second quarter sales climb as revenue nears $9B
Image for illustrative purposes only. Not a real photo.

Ferguson second quarter sales climb as revenue nears $9B

Share
  • Ferguson Enterprises reported quarterly sales of $8.8 billion, up 4.6% year over year, with diluted EPS rising 6.9%.
  • The company completed five acquisitions and signed an agreement to acquire FloWorks Holdings.
  • Ferguson maintained a strong balance sheet with net debt to adjusted EBITDA of 1.3x and returned $202 million through share repurchases.

Ferguson Enterprises (NYSE:FERG) reported quarterly sales of $8.8 billion, up 4.6% year over year, with diluted earnings per share increasing to $3.43.

The company’s gross margin declined 20 basis points to 31%, while operating margin increased 10 basis points to 10.2% compared with the prior-year period.

Ferguson reported adjusted operating margin of 10.7%, adjusted diluted EPS of $3.39 and completed five acquisitions during the quarter, while also signing an agreement to acquire FloWorks Holdings, a distributor of technical valves and flow control solutions.

The company declared a quarterly dividend of $0.89 per share and repurchased $202 million of shares during the quarter as it continued returning capital to shareholders.

Ferguson said its non-residential business delivered growth during the quarter, while residential activity returned to growth despite challenging market conditions.

The company ended the quarter with net debt to adjusted EBITDA of 1.3x, maintaining financial flexibility for acquisitions, organic investment and shareholder returns.