WASHINGTON (dpa-AFX) - Ferguson Enterprises Inc. (FERG), a supplier of plumbing and heating products, on Monday reported higher net income in the second quarter compared with the previous year. The company said despite continued uncertainty in the economic environment, it raised its full-year guidance based on its year-to-date performance.
For the second quarter, net income increased to $666 million from $634 million in the previous year.
Earnings per share were $3.43 versus $3.21 last year.
Adjusted EBITDA increased to $994 million from $963 million in the previous year.
Operating profit grew to $893 million from $842 million in the prior year.
Net sales increased to $8.75 billion from $8.36 billion in the previous year.
Further, the company declared a quarterly dividend of $0.89 per share, payable on October 7, to shareholders of record as of August 21.
Looking ahead, the company raised its 2026 net sales growth guidance to mid-single-digit growth, from the previous expectation of low- to mid-single-digit growth.
In the pre-market trading, Ferguson Enterprises is 2.25% higher at $262.30 on the New York Stock Exchange.
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