Ferguson Enterprises Inc. filed its Form 10‑Q for the quarter ended October 31, 2025, reporting total revenue of $8.20 billion, a 6.9% year‑over‑year increase driven by a 12% rise in non‑residential sales and a modest 1% decline in residential revenue. Gross margin expanded to 30.7%, up 70 basis points from the 29.6% reported in the same quarter a year earlier, reflecting disciplined pricing and a favorable mix of high‑margin commercial contracts.
Operating profit for the quarter reached $771 million, up 0.6% from $764 million a year ago, while adjusted earnings per share of $2.84 beat the consensus estimate of $2.77 by $0.07 (a 2.5% beat). The beat was largely attributable to stronger-than‑expected non‑residential demand, cost‑control initiatives that limited raw‑material inflation, and the absence of significant one‑time charges.
Ferguson’s full‑year 2025 guidance was revised to a net‑sales range of $30.8 billion to $30.9 billion, up 5% from the prior forecast, and an adjusted operating margin of 9.4% to 9.6%, a slight lift from the 9.2% to 9.4% range previously issued. The company also announced a fiscal‑year‑end shift from July 31 to December 31, with a five‑month transition period, to better align reporting with its peak sales season.
CEO Kevin Murphy highlighted the company’s “continued execution of our growth strategy in a challenging market environment” and praised the “double‑digit non‑residential revenue growth” that underpinned the quarter’s performance. He added that Ferguson remains confident in its markets over the medium term, will continue to invest in organic growth, consolidate markets, and return capital to shareholders while maintaining a strong balance sheet.
The company declared a quarterly dividend of $0.89 per share, a 7% increase from the prior year, and completed $208 million of share repurchases during the quarter, underscoring its commitment to shareholder returns while preserving liquidity.
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