Ferguson reports Q1 sales up 3.6% and EPS up 9.1%, beating estimates despite weak US housing demand

Ferguson Enterprises reported a 3.6% year-over-year sales increase to $7.50 billion for the March quarter, surpassing estimates. Adjusted EPS rose 9.1% to $2.28, also beating expectations. Growth was driven by 2.8% organic and 0.8% acquisition gains, with U.S. residential sales declining 1% due to weak housing demand, while non-residential demand grew 8%. The company expects low to mid-single-digit sales growth and an adjusted operating margin of 9.4% to 9.8% for 2026, focusing on water infrastructure and large projects despite economic uncertainty.