Published
{
"ticker": "FERG",
"cik": "0002011641",
"company": "Ferguson Enterprises Inc.",
"business_type": "industrial",
"schema_template": "standard (industrial distribution): net sales, cost of sales, gross profit, operating profit, net income, EPS; cash, debt, assets, equity; operating cash flow, capital expenditures, free cash flow; United States and Canada segments",
"reporting_currency": "USD",
"converted_to_usd": false,
"units": "actual US dollars (not millions); per-share amounts in US dollars; share counts in actual shares",
"units_notes_seen": {
"Transition report on Form 10-KT (0002011641-26-000006), consolidated statements of earnings": "(In millions, except per share amounts)",
"Transition report on Form 10-KT (0002011641-26-000006), consolidated balance sheets": "(In millions, except share amounts)",
"Transition report on Form 10-KT (0002011641-26-000006), consolidated statements of cash flows": "(In millions)",
"Transition report on Form 10-KT (0002011641-26-000006), consolidated statements of stockholders' equity": "(In millions, except per share data)",
"Transition report on Form 10-KT (0002011641-26-000006), Note 2 segment results and capital expenditures by segment": "(In millions)",
"Transition report on Form 10-KT (0002011641-26-000006), Note 17 transition period comparative data": "(In millions, except per share amounts)",
"Q2 2026 10-Q (0002011641-26-000040), condensed consolidated statements of earnings": "(In millions, except per share amounts)",
"Q2 2026 10-Q (0002011641-26-000040), condensed consolidated balance sheets": "(In millions, except share amounts)",
"Q2 2026 10-Q (0002011641-26-000040), condensed consolidated statements of cash flows": "(In millions)",
"Q2 2026 10-Q (0002011641-26-000040), condensed consolidated statements of stockholders' equity": "(In millions, except per share data)",
"Q2 2026 10-Q (0002011641-26-000040), Note 2 segment results and capital expenditures by segment": "(In millions)"
},
"adjustments": {
"splits_applied": [],
"adr_ratio": null,
"fx": null,
"note": "None applied. Ferguson reports in US dollars, its common stock trades directly on the NYSE (not as an ADR), and no share split falls within the periods presented."
},
"fiscal_calendar": {
"current_fiscal_year_end": "December 31",
"former_fiscal_year_end": "July 31",
"transition_period": "August 1, 2025 to December 31, 2025 (five months)",
"naming": "Fiscal 2025, fiscal 2024 and fiscal 2023 are the twelve-month years ended July 31 of those years. 2026 is the fiscal year ending December 31, 2026, so Q2 2026 is the three months ended June 30, 2026."
},
"annual": [
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"basic_weighted_shares": 198900000,
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{
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},
{
"label": "Fiscal 2023 (year ended July 31, 2023)",
"period_start": "2022-08-01",
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"source_accession": "0002011641-26-000006",
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"canada": {
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},
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}
}
],
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"label": "Transition period: five months ended December 31, 2025",
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"period_end": "2025-12-31",
"period_type": "five-month transition period (audited)",
"source_accession": "0002011641-26-000006",
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"period_type": "five months (unaudited)",
"source_accession": "0002011641-26-000006",
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"canada": {
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"shareholder_returns": {
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{
"label": "Q2 2026 (three months ended June 30, 2026)",
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"period_type": "three months",
"source_accession": "0002011641-26-000040",
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"canada": {
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"shareholder_returns": {
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}
},
{
"label": "Three months ended June 30, 2025",
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"period_type": "three months",
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}
],
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"period_type": "six months",
"source_accession": "0002011641-26-000040",
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"period_type": "six months",
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"basic_weighted_shares": 198100000,
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},
"trailing_twelve_months": {
"label": "Twelve months ended June 30, 2026 (derived)",
"period_start": "2025-07-01",
"period_end": "2026-06-30",
"period_type": "twelve months (derived)",
"source_accession": "0002011641-26-000006; 0002011641-26-000040",
"income_statement": {
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},
"notes": [
"Ferguson changed its fiscal year-end from July 31 to December 31. Its annual report in force is the transition report on Form 10-KT (accession 0002011641-26-000006, filed February 27, 2026), which covers the five-month transition period from August 1, 2025 to December 31, 2025 and presents the twelve-month fiscal years ended July 31, 2025, 2024 and 2023 as comparatives. The current period is the Q2 2026 Form 10-Q (accession 0002011641-26-000040) for the quarter and six months ended June 30, 2026.",
"The annual list holds the three twelve-month fiscal years ended July 31 (fiscal 2025, 2024 and 2023). They are not calendar years. Balance sheets are given for July 31, 2025 and July 31, 2024 only, because the transition report presents no July 31, 2023 balance sheet.",
"The five-month transition period (August 1 to December 31, 2025) is kept in its own transition_period block and is neither a quarter nor a full year. Its income statement, December 31, 2025 balance sheet and cash flows are from the audited statements in the 10-KT. Its comparative, the five months ended December 31, 2024, comes from Note 17 of the 10-KT, is unaudited, and covers the income statement only.",
"Quarterly entries are the three months ended June 30, 2026 (Q2 2026) and the three months ended June 30, 2025, both from the 10-Q. April to June 2025 fell inside fiscal 2025 under the former July year-end and does not line up with one of that year's fiscal quarters, so it is labelled by its dates and carried as calendar Q2 2025. The three months ended March 31, 2026 are not printed as a separate column in the 10-Q and are not included here.",
"The year_to_date block is the six months ended June 30, 2026, with the six months ended June 30, 2025 as its comparative, from the 10-Q's income statement, cash flow statement, equity statement and segment note. The June 30, 2026 balance sheet sits on the Q2 2026 quarterly entry.",
"Sign convention: income statement expenses (cost of sales, SG&A, restructuring and impairment, depreciation and amortization, net interest expense, income tax provision) are stated as positive amounts; the statements print them in parentheses. A negative restructuring_and_impairment figure is a net credit: the transition period's $3 million net credit reflects a $20 million gain on the sale of a closed US distribution center, partly offset by restructuring charges (10-KT Note 16). other_income_expense_net keeps the statement's sign (positive is income). Cash flow lines keep the cash flow statement's signs, so outflows such as capital expenditures, acquisitions, share repurchases and dividends paid are negative.",
"The income statement line carried as restructuring_and_impairment is captioned 'Restructuring and impairment' in the 10-KT, 'Restructuring expenses' in the 10-Q and 'Restructuring activities' in Note 17 of the 10-KT; it is the same line throughout.",
"total_debt is short-term debt plus long-term debt as printed on the balance sheet. It excludes operating lease liabilities. It is not the company's own 'net debt' measure, which also includes bank overdrafts and derivative liabilities and deducts cash.",
"free_cash_flow is net cash provided by operating activities less capital expenditures, computed from the cash flow statement; the company does not report this figure in these filings. Fiscal 2023 operating cash flow of $2,723 million includes $4 million used by discontinued operations (continuing operations: $2,727 million).",
"The 10-Q prints its cash flow statement for the six-month periods only. The three-month capital expenditures on the quarterly entries ($142 million in Q2 2026, $68 million a year earlier) come from the capital expenditures by segment table in Note 2 of the 10-Q; three-month operating cash flow and free cash flow are not reported.",
"The trailing_twelve_months block (July 1, 2025 to June 30, 2026) is derived, not printed: fiscal 2025, less the five months ended December 31, 2024 (10-KT Note 17), plus the five-month transition period, less the six months ended June 30, 2025, plus the six months ended June 30, 2026. It covers income statement lines only. Its net income of $2,107 million, provision for income taxes of $624 million and net interest expense of $192 million match the twelve-month figures the company prints in the adjusted EBITDA reconciliation of its Q2 2026 earnings release (Exhibit 99.1 to the 8-K, accession 0002011641-26-000038).",
"Segment figures are Ferguson's two reportable segments, United States and Canada, from Note 2 of each filing. Adjusted operating profit is the company's segment profit measure; it excludes central and other costs, restructuring and impairment, and amortization of acquired intangible assets, so the segment totals do not add up to consolidated operating profit.",
"Dividends declared per share are as printed in the statements of stockholders' equity: $0.89 for Q2 2026 and $0.83 for the year-ago quarter; $1.78 and $1.66 for the six-month periods; $1.72 for the transition period; and $3.28, $3.12 and $4.16 for fiscal 2025, 2024 and 2023. Cash dividends paid, on the cash flow statement, are a separate measure from dividends declared.",
"Ferguson Enterprises Inc. became the group's parent on August 1, 2024, through a merger of entities under common control with the predecessor, Ferguson plc. The 10-KT presents fiscal 2024 and fiscal 2023 on the same consolidated basis, which is why the July 31, 2024 balance sheet shows Ferguson plc ordinary shares rather than common stock.",
"Weighted average share counts are printed in millions to one decimal place, so they are exact only to the nearest 100,000 shares."
],
"uncertainties": [
"No three-month operating cash flow or free cash flow is available for Q2 2026 or the year-ago quarter: the 10-Q and the accompanying earnings release print cash flows for the six-month periods only.",
"No June 30, 2025 balance sheet is presented: the 10-Q compares the June 30, 2026 balance sheet with December 31, 2025 only.",
"The five months ended December 31, 2024 are unaudited and limited to the income statement lines in Note 17 of the 10-KT, so the transition period has no year-earlier balance sheet or cash flow comparison and the trailing twelve months has no cash flow figures.",
"The trailing twelve months are assembled from five separately reported periods; each component is as printed, but the total is a derived figure rather than one the company reports in its statements (other than the net income, tax and interest lines noted above)."
],
"headline": {
"period": "Q2 FY2026",
"period_end_words": "June 30, 2026",
"metrics": [
{
"label": "Net sales",
"format": "usd",
"value": 8751000000,
"text": "$8.75 billion",
"exact": "$8,751,000,000",
"compact": "$8.75B",
"abs": "$8.75 billion",
"prior_value": 8363000000,
"prior": "$8.36 billion",
"priorabs": "$8.36 billion",
"yoy": "up 4.6%",
"source": {
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}
},
{
"label": "Net income",
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"value": 666000000,
"text": "$666 million",
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"abs": "$666 million",
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"prior": "$634 million",
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},
{
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"exact": "$3.43",
"compact": "$3.43",
"abs": "$3.43",
"prior_value": 3.21,
"prior": "$3.21",
"priorabs": "$3.21",
"yoy": "up 6.9%",
"source": {
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"field": "income_statement.diluted_eps",
"index": 0,
"period_label": "Q2 2026 (three months ended June 30, 2026)",
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"period_start": "2026-04-01",
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},
{
"label": "Operating profit",
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"value": 893000000,
"text": "$893 million",
"exact": "$893,000,000",
"compact": "$893.00M",
"abs": "$893 million",
"prior_value": 842000000,
"prior": "$842 million",
"priorabs": "$842 million",
"yoy": "up 6.1%",
"source": {
"array": "quarterly",
"field": "income_statement.operating_profit",
"index": 0,
"period_label": "Q2 2026 (three months ended June 30, 2026)",
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"source_accession": "0002011641-26-000040",
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}
},
{
"label": "US net sales",
"format": "usd",
"value": 8343000000,
"text": "$8.34 billion",
"exact": "$8,343,000,000",
"compact": "$8.34B",
"abs": "$8.34 billion",
"prior_value": 7947000000,
"prior": "$7.95 billion",
"priorabs": "$7.95 billion",
"yoy": "up 5.0%",
"source": {
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"field": "segments.united_states.net_sales",
"index": 0,
"period_label": "Q2 2026 (three months ended June 30, 2026)",
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],
"summary": "Ferguson Enterprises reported net sales of $8.75 billion for Q2 FY2026, the quarter ended June 30, 2026, up 4.6% from the same three months a year earlier, with net income of $666 million, up 5.0%, and diluted earnings per share of $3.43, up from $3.21. Growth came from price inflation, higher volume and acquisitions, led by US non-residential markets, and operating profit rose to $893 million, up 6.1%, helped by lower restructuring charges, while gross margin slipped slightly against a year-earlier quarter lifted by supplier price increases. Ferguson's fiscal year now ends December 31, so its 2026 quarters are compared with the same calendar months of 2025.",
"qa": [
{
"q": "How much revenue did Ferguson make in Q2 FY2026?",
"a": "Ferguson Enterprises reported net sales of $8.75 billion for Q2 FY2026, the quarter ended June 30, 2026. That is up 4.6% from $8.36 billion in the same three months a year earlier."
},
{
"q": "What was Ferguson's net income in Q2 FY2026?",
"a": "Ferguson Enterprises earned net income of $666 million in Q2 FY2026, the quarter ended June 30, 2026, up 5.0% from $634 million a year earlier. Operating profit was $893 million, up 6.1%."
},
{
"q": "What were Ferguson's earnings per share in Q2 FY2026?",
"a": "Ferguson Enterprises reported diluted earnings per share of $3.43 for Q2 FY2026, the quarter ended June 30, 2026, up 6.9% from $3.21 in the same three months a year earlier, with share repurchases adding to the increase."
},
{
"q": "How much did Ferguson's US sales grow in Q2 FY2026?",
"a": "Ferguson Enterprises' United States segment, which produces almost all of its sales, reported net sales of $8.34 billion for Q2 FY2026, up 5.0% from $7.95 billion a year earlier, led by non-residential markets."
}
]
},
"company_details": {
"Name": "Ferguson Enterprises Inc. /DE/",
"Ticker": "FERG",
"CIK": "0002011641",
"Exchange": "NYSE",
"State": "Virginia",
"Incorporation": "Delaware",
"SIC": "5070",
"Office": "Trade & Services",
"Industry": "Wholesale-Hardware & Plumbing & Heating Equipment & Supplies"
},
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