Overview
- Quarterly revenue rose 5.1% to $8.169 billion, driven by roughly 4.2% organic growth and 1.0% from acquisitions, with price inflation near 3%.
- Adjusted EPS increased 15.9% to $2.84 as gross margin improved to 30.7% and operating margin reached 9.4% (9.9% adjusted).
- Ferguson now projects about 5% net sales growth for calendar 2025 with an adjusted operating margin of 9.4% to 9.6%.
- U.S. results were mixed, with residential revenue down 1% and non-residential up 12% on strength in waterworks and commercial/mechanical projects.
- Capital allocation included the Moore Supply acquisition, $208 million of share repurchases, and a quarterly dividend of $0.89, while the stock dropped roughly 4% to 6% after the report.