5th May 2026 12:30
(Alliance News) - Ferguson Enterprises Inc on Tuesday announced a sharply higher first quarter operating profit, as the operating margin and net sales improved.
The Newport News, Virginia-based heating and plumbing products distributor said net sales rose 3.6% to USD7.47 billion in the first quarter of 2026, from USD7.21 billion a year ago.
Operating profit jumped 21% to USD612 million from USD507 million. The operating margin was 8.2%, higher than 7.0% a year prior.
Adjusted earnings before interest, tax, depreciation and amortisation improved 9.2% to USD711 million from USD651 million.
On Friday, the firm had announced a quarterly dividend of 89 US cents per share, unchanged from a quarter prior.
Looking ahead, Ferguson reiterated its 2026 guidance, including of low to mid-single digit net sales growth.
Chief Executive Officer Kevin Murphy said: "Our associates delivered another quarter of solid results in a challenging market. We are particularly pleased with another quarter of strong non-residential revenue growth, driven by our ability to serve large capital projects. Our scale-advantaged business model and consistent cash generation enable us to invest in organic growth, consolidate our markets through acquisitions and return capital to shareholders, all while maintaining a strong balance sheet."
He added: "While the economic environment remains uncertain, we expect to continue to outperform the market by deploying scale locally while leveraging the long term growth drivers of water infrastructure, large capital projects, climate and comfort and aging and underbuilt housing. We are confident in our ability to capitalize on these growth drivers as we provide essential water and air solutions for the complex project needs of the specialized professional."
Ferguson shares fell 2.3% to 19,020.00 pence each on Tuesday afternoon in London.
By Tom Budszus, Alliance News slot editor
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Ferguson