Analyst Consensus ?
ConsensusBuy17 ratings
Bullish1376.5%
Neutral423.5%
Bearish00.0%
Ferguson plc · FERG · FY2025 Q3 · Calendar Q2 2025
Ferguson pairs stronger growth with raised FY2025 guidance
Ferguson's Q3 results support a constructive operating trajectory: organic growth, HVAC and Waterworks momentum, higher gross margin and raised FY2025 guidance indicate resilient demand and execution. The thesis remains conditional on sustaining volume growth while managing tariffs, commodity pricing, project timing and acquisition integration.
Reported Before market openNYSEIndustrials
$43.31B market cap
90quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.50
Consensus $2.01
EPS surprise
+24.4%
Reported versus consensus
Reported revenue
$7.62B
Consensus $7.42B
Revenue surprise
+2.8%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+17.2%
Event window
SPY move
+0.6%
Same window
Abnormal move
+16.7%
Stock minus SPY
Volume
3.7×
Versus trailing sessions
Subsequent drift
+4.8%
Up to 20 sessions
FERGSPY benchmark
Ask FN2 about FERG FY2025 Q3
Transcript, numbers and history already loaded
Why did FERG rise 17.2% after beating EPS estimates in FY2025 Q3?What changed in FERG's guidance and outlook in FY2025 Q3?Give me the bull and bear case for FERG after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the supplied current-quarter analysis alone, Ferguson reported stronger operating performance, launched Ferguson Home, completed three acquisitions and raised FY2025 guidance. No prior-quarter transcript analysis was supplied for a quarter-over-quarter comparison.
Guidance delta
Management raised FY2025 guidance to low-to-mid single-digit revenue growth and an 8.5%-9.0% operating margin outlook; planned CapEx is $300-$350 million.
Key takeaways
- Q3 sales grew 4.3% to $7.6 billion, with 5% organic growth and 1% acquisition growth.
- HVAC and Waterworks were key growth contributors, while gross margin reached 31%.
- Operating profit rose 6.1% to $715 million and operating margin expanded to 9.4%.
- The company launched Ferguson Home and completed three bolt-on acquisitions.
- Management plans continued HVAC and Waterworks expansion, network investment and further bolt-on acquisitions.
Management priorities
- Expand HVAC through organic growth, branch conversions and acquisitions
- Diversify Waterworks and pursue public-works opportunities
- Roll out Ferguson Home and deepen digital integration
- Invest $300-$350 million in CapEx for network, automation and store upgrades
- Optimize the distribution-center network and pursue additional bolt-on acquisitions
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$223.33Current
$140Low
$264.59Average
$325High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 7, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Overweight | Overweight | Maintain | Aug 11, 2026 |
| UBS | Neutral | Neutral | Maintain | Aug 11, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Aug 11, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Aug 11, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Aug 11, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 11, 2026 |
| Baird | Outperform | Outperform | Maintain | Aug 11, 2026 |
| Zelman & Assoc | Outperform | Neutral | Upgrade | Jul 17, 2026 |
| Goldman Sachs | Neutral | Buy | Downgrade | Jul 7, 2026 |
| Truist Securities | Buy | Buy | Maintain | Feb 26, 2026 |
| Deutsche Bank | Hold | Hold | Maintain | Dec 11, 2025 |
| Jefferies | Buy | Buy | Maintain | Dec 2, 2025 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 15, 2025 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jun 9, 2025 |
| Citigroup | Neutral | Neutral | Maintain | Mar 12, 2025 |
| B of A Securities | Buy | Underperform | Upgrade | Jan 8, 2025 |
| Berenberg | Buy | Buy | Maintain | Dec 11, 2024 |
Named analyst price targets
Upside is calculated against the persisted current price $223.33. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Jefferies | Analyst unavailable | $295 | $223.23 | +32.1% | Sep 3, 2026 |
| Deutsche Bank | Analyst unavailable | $261 | $242.62 | +16.9% | Aug 18, 2026 |
| RBC Capital | Analyst unavailable | $290 | $253.76 | +29.9% | Aug 11, 2026 |
| UBS | Analyst unavailable | $256 | $259.61 | +14.6% | Aug 11, 2026 |
| Oppenheimer | Analyst unavailable | $288 | $263.78 | +29.0% | Aug 11, 2026 |
| Bernstein | Connor Cerniglia | $325 | $253.78 | +45.5% | Aug 11, 2026 |
| Robert W. Baird | Analyst unavailable | $288 | $263.78 | +29.0% | Aug 11, 2026 |
| Barclays | Matthew Bouley | $313 | $263.78 | +40.2% | Aug 11, 2026 |
| Goldman Sachs | Suhasini Varanasi | $265 | $228.92 | +18.7% | Jul 6, 2026 |
| Barclays | Analyst unavailable | $297 | $246.53 | +33.0% | May 8, 2026 |
| RBC Capital | Analyst unavailable | $281 | $255.36 | +25.8% | May 6, 2026 |
| Truist Financial | Analyst unavailable | $300 | $258.03 | +34.3% | Feb 25, 2026 |
| Jefferies | Philip Ng | $300 | $261.85 | +34.3% | Feb 24, 2026 |
| RBC Capital | Mike Dahl | $271 | $261.79 | +21.3% | Feb 24, 2026 |
| Barclays | Matthew Bouley | $278 | $246.1 | +24.5% | Jan 15, 2026 |
| RBC Capital | Mike Dahl | $247 | $229.42 | +10.6% | Jan 9, 2026 |
| Deutsche Bank | Analyst unavailable | $246 | $229.8 | +10.2% | Dec 11, 2025 |
| RBC Capital | Mike Dahl | $243 | $230.11 | +8.8% | Dec 10, 2025 |
| UBS | John Lovallo | $220 | $226.02 | -1.5% | Dec 10, 2025 |
| Robert W. Baird | David Manthey | $265 | $226.02 | +18.7% | Dec 10, 2025 |
| Bernstein | Connor Cerniglia | $288 | $226.02 | +29.0% | Dec 10, 2025 |
| Barclays | Matthew Bouley | $267 | $226.02 | +19.6% | Dec 10, 2025 |
| Jefferies | Analyst unavailable | $289 | $251.54 | +29.4% | Dec 2, 2025 |
| Vertical Research | Adam Baumgarten | $291.99 | $236.94 | +30.7% | Oct 20, 2025 |
| Barclays | Matthew Bouley | $273 | $226.74 | +22.2% | Sep 18, 2025 |
| Robert W. Baird | David Manthey | $262 | $224.48 | +17.3% | Sep 17, 2025 |
| Wells Fargo | Sam Reid | $275 | $231.54 | +23.1% | Sep 16, 2025 |
| UBS | Analyst unavailable | $225 | $231.54 | +0.7% | Sep 16, 2025 |
| Oppenheimer | Analyst unavailable | $189 | $155.81 | -15.4% | Mar 12, 2025 |
| RBC Capital | Analyst unavailable | $189 | $155.81 | -15.4% | Mar 12, 2025 |
| Robert W. Baird | David Manthey | $190 | $156.98 | -14.9% | Mar 12, 2025 |
| Barclays | Analyst unavailable | $190 | $155.81 | -14.9% | Mar 12, 2025 |
| Berenberg Bank | Harry Goad | $240 | $193.67 | +7.5% | Dec 11, 2024 |
| Oppenheimer | Scitt Scgbeeberger | $234 | $196.16 | +4.8% | Oct 23, 2024 |
| Robert W. Baird | David Manthey | $230 | $200.09 | +3.0% | Oct 16, 2024 |
| Barclays | Matthew Bouley | $245 | $207.06 | +9.7% | Sep 18, 2024 |
| Citigroup | Anthony Pettinari | $221 | $207.06 | -1.0% | Sep 18, 2024 |
| RBC Capital | Mike Dahl | $219 | $207.06 | -1.9% | Sep 18, 2024 |
| Bank of America Securities | Arnaud Lehmann | $185 | $207.06 | -17.2% | Sep 18, 2024 |
| Robert W. Baird | David Manthey | $225 | $207.06 | +0.7% | Sep 18, 2024 |
| Barclays | Matthew Bouley | $229 | $195.51 | +2.5% | Jul 12, 2024 |
| RBC Capital | Mike Dahl | $211 | $196.96 | -5.5% | Jun 5, 2024 |
| Jefferies | Philip Ng | $244 | $205.87 | +9.3% | Mar 14, 2024 |
| Truist Financial | Keith Hughes | $140 | $110.72 | -37.3% | Jun 16, 2022 |
| Truist Financial | Analyst unavailable | $165 | $131.35 | -26.1% | Apr 25, 2022 |
| Barclays | Analyst unavailable | $194 | $138.91 | -13.1% | Apr 22, 2022 |
Track every rating change on FERG the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationFerguson plc operates as a major supplier of plumbing, heating, and related industrial products throughout the United States and Canada. The company serves a diverse client base, providing essential solutions for residential, commercial, civil/infrastructure, and industrial projects. Its extensive product range encompasses core plumbing and heating supplies, such as pipes, valves, fittings, water heaters, and a variety of kitchen and bathroom fixtures and appliances. Beyond these essentials, Ferguson also provides heating, ventilation, air conditioning, and refrigeration (HVAC/R) equipment, as well as fire sprinkler systems and associated components. The company's offerings further extend to specialized water management products like water meters, irrigation and drainage systems, geosynthetics, and stormwater control solutions.…
Historical context
All FERG earningsIndustrials peers this season
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Latest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the FERG recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-10-07T01:30:41.944706+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-07T01:30:41.941863+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-07. For educational purposes only; not investment advice.