Ferguson Enterprises Lifts Sales Growth Outlook Following Third-Quarter Beat

10:16 AM EST, 11/09/2026 (MT Newswires) -- Ferguson Enterprises (FERG) raised its full-year sales growth outlook on Monday as the plumbing supplies distributor reported better-than-expected third-quarter results. The company, which provides water and air solutions, now expects sales to increase by about 7% for 2026, compared with its previous projection for mid-single-digit growth. The consensus on FactSet is for sales to rise by 7.5%. "While our markets remain mixed, our year-to-date performance and the addition of FloWorks enable us to raise our full year guidance," Chief Executive Kevin Murphy said in a statement. "We expect to continue delivering market outperformance." Ferguson completed its acquisition of technical valves and flow control solutions provider FWI Holdings, which does business as FloWorks, in August. The company posted adjusted earnings of $3.43 a share in the third quarter, up from $3.18 the year before and topping the Street's view of $3.31. Sales improved 9.5% to $9.03 billion, ahead of the average analyst estimate of $8.74 billion. Ferguson's shares rallied 11% in Monday trade. The stock has advanced nearly 16% so far this year. "We continue to invest organically and through acquisitions to expand our value-added solutions and geographic footprint," Murphy said. The company completed 11 acquisitions this year, with annualized revenue of roughly $1.5 billion, the CEO added. US sales rose 10% year over year to $8.62 billion, with non-residential and residential revenue growing 15% and 6%, respectively. Ferguson reported good residential revenue growth for the first time, Truist Securities said in a note emailed Monday, adding that higher pricing also helped buoy the results. The guidance increase was largely driven by the FloWorks acquisition, Truist said. In Canada, revenue declined 4.5% year-on-year to $405 million in the third quarter as markets remained "challenging," particularly on the residential side, Ferguson said. Last week, maintenance, repair and operating products distributor W.W. Grainger (GWW) lifted its full-year outlook as it reported third-quarter results above market estimates. Water, sewer and fire protection product distributor Core & Main (CNM) maintained its full-year outlook in September. Price: 261.11, Change: +27.41, Percent Change: +11.73