WASHINGTON (dpa-AFX) - Ferguson Enterprises Inc. (FERG), a supplier of plumbing and heating products, on Monday reported lower net profit in its third quarter, while adjusted EBITDA increased with growth in net sales. Further, the firm raised fiscal 2026 guidance for adjusted margin and net sales.
Looking ahead, the company now expects fiscal 2026 net sales growth of around 7 percent, compared to previous guidance of mid-single-digit growth.
Adjusted operating margin is now expected to be 9.6 percent to 9.8 percent, compared to previous estimate of 9.5 percent to 9.8 percent.
The company said the outlook revision reflects latest performance and inclusion of the FloWorks acquisition that closed on August 31.
In the third quarter, Ferguson's earnings came in at $598 million or $3.08 per share, lower than $638 million or $3.24 per share last year.
Adjusted earnings were $664 million or $3.43 per share for the period, compared to $3.18 per share a year ago.
Adjusted EBITDA grew 9 percent to $1.028 billion from $943 million last year.
The company's net sales for the period rose 9.5 percent to $9.026 billion from $8.245 billion last year.
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