Ferguson Q2 FY2026: sales up 4.6%, EPS $3.43, guidance raised
Ferguson's June quarter beat expectations: revenue rose 4.6% to $8.75 billion and diluted EPS of $3.43 cleared the $3.3541 consensus, while management raised full-year sales and margin guidance. The catch is quality — gross margin slipped 20 basis points and free cash flow turned negative on a working-capital build. Read this as solid execution against a still-soft housing market, not as a demand recovery.
1 · Expected vs. Actual
Free preview belowDiluted EPS of $3.43 rose 6.9% year over year and beat the $3.3541 consensus; adjusted EPS of $3.39 rose 5.3%. Net income of $666 million compares with $634 million a year earlier, helped by buybacks that shrank the diluted share count to 194.0 million from 197.5 million. Adjusted EPS sits $0.04 below GAAP, mainly due to acquired-intangible amortization and discrete tax adjustments.
Revenue of $8.75 billion was 4.6% above last year's $8.36 billion, made up of 3.8% organic growth, 1.0% from acquisitions and a 0.2% drag from a Canadian divestment. The US segment did the heavy lifting at $8.34 billion, up 5.0%, while Canada slipped 1.9% to $408 million. Non-residential revenue rose 8% while residential, roughly half of revenue, only edged up 2%.
Log in to read 5 analyses a week for free
Create a free account to read 5 full earnings analyses each week — all five steps: expected vs. actual, guidance tracker, money flow, balance sheet and risks. Members get unlimited access.
Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
Answers are based on the earnings release and the analysis above. Free accounts get 3 questions a week; members get 30 a day.