Citable filing context
FERG's research view summarizes recent SEC filing context, starting with debt_offering from Aug 14, 2026.
| Filed | Item | Context |
|---|---|---|
| Aug 14, 2026 | debt_offering | Ferguson Enterprises completed a $1.2 billion offering of 4.800% senior notes due 2029 and 5.600% senior notes due 2036. |
| Aug 11, 2026 | debt_offering | Ferguson Enterprises entered into $1.6 billion in credit facilities to fund the acquisition of FWI Holdings, Inc. |
| Aug 10, 2026 | earnings | Ferguson reported Q2 2026 sales of $8.8 billion, up 4.6%, and increased its full-year guidance. |
| Aug 10, 2026 | Guidance: adjusted_effective_tax_rate | not reported to 26.00 |
| Aug 10, 2026 | Guidance: adjusted_operating_margin | 9.50 to 9.80 |
| Aug 10, 2026 | Guidance: capital_expenditures | 375.00 to 425.00 |
| Aug 10, 2026 | mda_quarterly | Ferguson reported net sales of $8.8 billion for the second quarter of 2026, a 4.6% increase year-over-year, driven by low single-digit price inflation, volume growth, and a 1.0% contribution from acquisitions. Operating profit rose 6.1% to $893 million, while diluted earnings per share reached $3.43. The company’s primary segment, the United States, saw a 5.0% sales increase, bolstered by 8% growth in non-residential markets—specifically within commercial/mechanical, industrial, and waterworks sectors—and a 2% rise in residential markets led by HVAC. Conversely, the Canada segment experienced a 1.9% sales decline, impacted by non-core business divestments. Liquidity remains robust, with $437 million in cash and $1.6 billion in undrawn credit facilities. However, net cash from operating activities fell to $716 million for the first half of 2026, compared to $1.1 billion in the prior period, due to increased working capital investment and the timing of tax payments. The company continues an aggressive capital allocation strategy, having completed $438 million in share repurchases year-to-date and announcing a $1.6 billion acquisition of FWI Holdings, Inc., expected to close in the third quarter of 2026. Ferguson remains in compliance with all debt covenants as it manages a total debt load of $4.9 billion. |
| May 5, 2026 | mda_quarterly | Ferguson reported net sales of $7.5 billion for the first quarter of 2026, a 3.6% increase year-over-year. This growth was driven by mid-single-digit price inflation and 0.8% contribution from acquisitions, which offset lower sales volumes. Operating profit rose 20.7% to $612 million, while adjusted operating profit grew 8.4% to $647 million, reflecting improved productivity and operating leverage. The United States segment, which accounts for the vast majority of revenue, saw a 3.5% sales increase. Performance was bifurcated: non-residential markets—specifically commercial/mechanical, industrial, and waterworks—grew approximately 8% due to large capital projects, while residential markets declined 1% amid weak new construction and soft repair, maintenance, and improvement (RMI) activity. The Canada segment grew 5.5%, bolstered by acquisitions and foreign exchange impacts. Liquidity remains strong, with $820 million in cash and $2.4 billion in undrawn credit facilities. Operating cash flow decreased to $772 million from $874 million, primarily due to higher working capital investments and the timing of collections and vendor payments. The company continues to prioritize shareholder returns, repurchasing $236 million in shares during the quarter and authorizing a new $2 billion repurchase program in April 2026. Management maintains a stable outlook, noting no material changes to critical accounting policies. |
Source: SEC EDGAR filing text and events; period Aug 14, 2026; filed Aug 14, 2026.
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