Ferguson Enterprises Inc. (NYSE:FERG) on Monday reported better-than-expected second-quarter results and raised its full-year outlook.

Ferguson reported adjusted earnings of $3.39 per share, topping the $3.29 analyst estimate. Sales rose 4.6% year over year to $8.75 billion, above the $8.67 billion consensus estimate.

Ferguson raised its fiscal 2026 net sales outlook to mid-single-digit growth from its previous forecast for low- to mid-single-digit growth. The company also raised the lower end of its adjusted operating margin outlook to 9.5%-9.8% from 9.4%-9.8%.

Kevin Murphy, Ferguson CEO, said, “Our associates continued to execute for our customers, driving market outperformance in the second quarter. We delivered another strong quarter of non-residential growth and we returned to growth in residential despite the challenging market backdrop. We completed five acquisitions and signed a definitive purchase agreement to acquire FloWorks, a leading distributor of highly technical valves and flow control solutions. 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.”

Ferguson shares closed at $263.78 on Monday.

These analysts made changes to their price targets on Ferguson following earnings announcement.

  • Baird analyst David Manthey maintained the stock with an Outperform rating and raised the price target from $285 to $288.
  • Wells Fargo analyst Sam Reid maintained the stock with an Overweight rating and raised the price target from $285 to $295.

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