Analyst Consensus ?
ConsensusBuy17 ratings
Bullish1482.4%
Neutral317.6%
Bearish00.0%
Ferguson Enterprises Inc. · FERG · FY2026 Q3 · Calendar Q4 2026
Ferguson raises FY2026 outlook as industrial and HVAC sales accelerate
Ferguson’s Q3 growth and higher full-year outlook point to resilience across industrial, HVAC, and non-residential demand, with FloWorks expanding flow-control capabilities. The outlook still depends on execution of large projects and continued strength outside challenged residential markets.
Why did FERG rise 11.2% after beating EPS estimates in FY2026 Q3?
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Reported Before market openNYSEIndustrials
$50.28B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$3.43
Consensus $3.31
EPS surprise
+3.6%
Reported versus consensus
Reported revenue
$9.03B
Consensus $8.74B
Revenue surprise
+3.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+11.2%
Event window
SPY move
+2.4%
Same window
Abnormal move
+8.9%
Stock minus SPY
Volume
2.6×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
FERGSPY benchmark
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Why did FERG rise 11.2% after beating EPS estimates in FY2026 Q3?What changed in FERG's guidance and outlook in FY2026 Q3?Give me the bull and bear case for FERG after FY2026 Q3 earnings.
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Transcript intelligence
What changed
Compared with Q2, management reported faster consolidated revenue growth, pronounced industrial and HVAC gains, and completion of the FloWorks acquisition. Full-year sales guidance moved from mid-single-digit growth to approximately 7%, while the stated operating-margin range is now 9.6%–9.8%.
Guidance delta
Raised FY2026 sales-growth outlook to approximately 7% and operating-margin guidance to 9.6%–9.8%. The prior-quarter analysis described mid-single-digit sales growth and a 9.5%–9.8% margin range.
Key takeaways
- Revenue increased 9.5% year over year to $9 billion; operating profit rose 9% to $962 million.
- Industrial sales rose 55%, including 32% organic growth, and HVAC sales increased 15%, according to the supplied analysis.
- FloWorks was completed, adding industrial flow-control capabilities; management cited a larger addressable market.
- Management reported continued residential weakness and paused share repurchases while prioritizing acquisition funding and leverage.
Management priorities
- Integrate FloWorks and pursue bolt-on acquisitions across industrial, water, and HVAC.
- Invest approximately $425 million in supply chain, branches, technology, and value-added solutions.
- Develop value-added services and cross-selling opportunities.
- Resume share repurchases when leverage returns toward the lower end of its target range.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$265.03Current
$140Low
$264.61Average
$325High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 11, 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 |
|---|---|---|---|---|
| UBS | Neutral | Neutral | Maintain | Nov 10, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Nov 10, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Nov 10, 2026 |
| Barclays | Overweight | Overweight | Maintain | Nov 10, 2026 |
| Baird | Outperform | Outperform | Maintain | Nov 10, 2026 |
| Citigroup | Buy | Neutral | Upgrade | Oct 27, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Aug 11, 2026 |
| Bernstein | 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 |
| 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 $265.03. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| RBC Capital | Mike Dahl | $288 | $254.09 | +8.7% | Nov 10, 2026 |
| RBC Capital | Analyst unavailable | $286 | $217.49 | +7.9% | Oct 7, 2026 |
| Melius Research | Analyst unavailable | $252 | $222.93 | -4.9% | Oct 6, 2026 |
| Jefferies | Analyst unavailable | $295 | $223.23 | +11.3% | Sep 3, 2026 |
| Deutsche Bank | Analyst unavailable | $261 | $242.62 | -1.5% | Aug 18, 2026 |
| RBC Capital | Analyst unavailable | $290 | $253.76 | +9.4% | Aug 11, 2026 |
| UBS | Analyst unavailable | $256 | $259.61 | -3.4% | Aug 11, 2026 |
| Oppenheimer | Analyst unavailable | $288 | $263.78 | +8.7% | Aug 11, 2026 |
| Bernstein | Connor Cerniglia | $325 | $253.78 | +22.6% | Aug 11, 2026 |
| Robert W. Baird | Analyst unavailable | $288 | $263.78 | +8.7% | Aug 11, 2026 |
| Barclays | Matthew Bouley | $313 | $263.78 | +18.1% | Aug 11, 2026 |
| Goldman Sachs | Suhasini Varanasi | $265 | $228.92 | -0.0% | Jul 6, 2026 |
| Barclays | Analyst unavailable | $297 | $246.53 | +12.1% | May 8, 2026 |
| RBC Capital | Analyst unavailable | $281 | $255.36 | +6.0% | May 6, 2026 |
| Truist Financial | Analyst unavailable | $300 | $258.03 | +13.2% | Feb 25, 2026 |
| Jefferies | Philip Ng | $300 | $261.85 | +13.2% | Feb 24, 2026 |
| RBC Capital | Mike Dahl | $271 | $261.79 | +2.3% | Feb 24, 2026 |
| Barclays | Matthew Bouley | $278 | $246.1 | +4.9% | Jan 15, 2026 |
| RBC Capital | Mike Dahl | $247 | $229.42 | -6.8% | Jan 9, 2026 |
| Deutsche Bank | Analyst unavailable | $246 | $229.8 | -7.2% | Dec 11, 2025 |
| RBC Capital | Mike Dahl | $243 | $230.11 | -8.3% | Dec 10, 2025 |
| UBS | John Lovallo | $220 | $226.02 | -17.0% | Dec 10, 2025 |
| Robert W. Baird | David Manthey | $265 | $226.02 | -0.0% | Dec 10, 2025 |
| Bernstein | Connor Cerniglia | $288 | $226.02 | +8.7% | Dec 10, 2025 |
| Barclays | Matthew Bouley | $267 | $226.02 | +0.7% | Dec 10, 2025 |
| Jefferies | Analyst unavailable | $289 | $251.54 | +9.0% | Dec 2, 2025 |
| Vertical Research | Adam Baumgarten | $291.99 | $236.94 | +10.2% | Oct 20, 2025 |
| Barclays | Matthew Bouley | $273 | $226.74 | +3.0% | Sep 18, 2025 |
| Robert W. Baird | David Manthey | $262 | $224.48 | -1.1% | Sep 17, 2025 |
| Wells Fargo | Sam Reid | $275 | $231.54 | +3.8% | Sep 16, 2025 |
| UBS | Analyst unavailable | $225 | $231.54 | -15.1% | Sep 16, 2025 |
| Oppenheimer | Analyst unavailable | $189 | $155.81 | -28.7% | Mar 12, 2025 |
| RBC Capital | Analyst unavailable | $189 | $155.81 | -28.7% | Mar 12, 2025 |
| Robert W. Baird | David Manthey | $190 | $156.98 | -28.3% | Mar 12, 2025 |
| Barclays | Analyst unavailable | $190 | $155.81 | -28.3% | Mar 12, 2025 |
| Berenberg Bank | Harry Goad | $240 | $193.67 | -9.4% | Dec 11, 2024 |
| Oppenheimer | Scitt Scgbeeberger | $234 | $196.16 | -11.7% | Oct 23, 2024 |
| Robert W. Baird | David Manthey | $230 | $200.09 | -13.2% | Oct 16, 2024 |
| Barclays | Matthew Bouley | $245 | $207.06 | -7.6% | Sep 18, 2024 |
| Citigroup | Anthony Pettinari | $221 | $207.06 | -16.6% | Sep 18, 2024 |
| RBC Capital | Mike Dahl | $219 | $207.06 | -17.4% | Sep 18, 2024 |
| Bank of America Securities | Arnaud Lehmann | $185 | $207.06 | -30.2% | Sep 18, 2024 |
| Robert W. Baird | David Manthey | $225 | $207.06 | -15.1% | Sep 18, 2024 |
| Barclays | Matthew Bouley | $229 | $195.51 | -13.6% | Jul 12, 2024 |
| RBC Capital | Mike Dahl | $211 | $196.96 | -20.4% | Jun 5, 2024 |
| Jefferies | Philip Ng | $244 | $205.87 | -7.9% | Mar 14, 2024 |
| Truist Financial | Keith Hughes | $140 | $110.72 | -47.2% | Jun 16, 2022 |
| Truist Financial | Analyst unavailable | $165 | $131.35 | -37.7% | Apr 25, 2022 |
| Barclays | Analyst unavailable | $194 | $138.91 | -26.8% | Apr 22, 2022 |
Track every rating change on FERG the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationFerguson Enterprises Inc. distributes essential water and air solutions to specialized professional in the United States and Canada. The company provides various products and services, including plumbing; pipe, valves, and fittings; heating, ventilation, and air conditioning; appliances; lighting; and water and wastewater solutions to residential and non-residential customers. It also supplies specialized water and wastewater treatment products to residential, commercial, and infrastructure contractors, as well as supplies pipe, valves, and fittings solutions to industrial customers.…
Historical context
All FERG earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| TDG TransDigm Group Incorporated | FY2026 Q4 · Calendar Q4 2026 | +1.9% | +0.5% | TransDigm closes FY2026 with broad growth and sets a higher-investment FY2027 outlook |
| EMBJ Embraer S.A. | FY2026 Q3 · Calendar Q4 2026 | -49.4% | +7.0% | Embraer’s record Q3 and raised outlook meet a sharp EPS miss |
| RKLB Rocket Lab USA, Inc. | FY2026 Q3 · Calendar Q4 2026 | -79.5% | -1.0% | Rocket Lab Q3: Revenue Beat, EPS Loss Wider Than Expected |
| CNH CNH Industrial N.V. | FY2026 Q3 · Calendar Q4 2026 | +67.1% | +10.9% | CNH sharpens agriculture focus as margins improve and construction JV advances |
| RBA RB Global, Inc. | FY2026 Q3 · Calendar Q4 2026 | +4.0% | +2.4% | RB Global raises FY2026 outlook as Q3 GTV and adjusted EBITDA grow |
Latest beats and misses
Who reports nextBeat on EPS
- VGFY2026 Q3 · November 10, 2026+92.7% EPS+1.7% move
- TDGFY2026 Q4 · November 10, 2026+1.9% EPS+0.5% move
- ONONFY2026 Q3 · November 10, 2026+39.9% EPS-7.5% move
- CRWVFY2026 Q3 · November 10, 20260.0% EPS-0.5% move
- OXYFY2026 Q3 · November 9, 2026+30.8% EPS+2.0% move
- MGREFY2026 Q3 · November 9, 2026+8.1% EPS+0.6% move
Missed on EPS
- EMBJFY2026 Q3 · November 10, 2026-49.4% EPS+7.0% move
- VODFY2027 Q2 · November 10, 2026-72.8% EPS-1.2% move
- SEFY2026 Q3 · November 10, 2026-5.1% EPS-1.5% move
- BAPFY2026 Q3 · November 9, 2026-2.6% EPS+3.3% move
- JBSFY2026 Q3 · November 9, 2026-28.6% EPS-5.5% move
- CIBFY2026 Q3 · November 9, 2026-10.1% EPS-4.0% move
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Sources
- Earnings call transcript and parsed analysis · 2026-11-09T19:07:32.655084+00:00
- FN2 earnings calendar · 2026-11-10T01:23:14.443147+00:00
- Polygon adjusted daily market bars · 2026-11-10T07:30:45.025825+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-10T07:30:45.022626+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 2026-11-10. For educational purposes only; not investment advice.