Ferguson Enterprises Surges 12% After Q3 Earnings Beat and Full-Year Guidance Raise

Ferguson Enterprises posted stronger-than-expected fiscal third-quarter results before the market open on Monday, November 9, sending its shares up as much as 12% and making FERG the top-performing component of the S&P 500 index in early trading. The company reported non-GAAP earnings per share of $3.43, beating consensus estimates by $0.14, while revenue came in at $9 billion, topping expectations by $310 million.

CEO Kevin Murphy cited broad-based demand across the business, with non-residential sales rising 15% and residential sales growing 6% in the quarter. Ferguson also raised its full-year sales growth guidance, crediting strong execution and contributions from acquisitions. The company has completed eleven acquisitions so far this fiscal year, with an aggregate annualized revenue of approximately $1.5 billion.

The stock's move put it on pace for its best single-day percentage gain in more than a year. Year to date through the report date, Ferguson had already registered a 16.4% gain. The rally came on a broadly positive day for equities, with the Dow Jones Industrial Average rising around 900 points.