Ferguson reported first quarter 2026 sales of $7.5 billion, a 3.6% increase year-over-year, and diluted EPS of $2.13, up 23.1%. The results came in slightly below analyst expectations for both revenue and EPS, however, the company reiterated its full-year 2026 guidance.
Key Highlights
- Non-residential revenue grew 8% year-over-year, driven by large capital projects, helping to offset continued softness in residential markets where revenue declined 1%.
- The company's adjusted operating margin expanded by 40 basis points to 8.7%, with gross margin also improving by 30 basis points to 31.0%.
- Ferguson announced a new $2.0 billion share repurchase authorization, replacing the existing program after buying back $236 million in shares during the quarter.