Ferguson Stock Rises on Strong Q2 Earnings, Acquisition Plans

Ferguson Enterprises (FERG) stock surged after the company released its second-quarter earnings report. The results exceeded Wall Street expectations, with adjusted EPS of $3.39 and net sales growing 4.6% to $8.75 billion.

The strong performance was driven by non-residential revenue, which rose 8% in the quarter. This growth was fueled by healthy large capital project activity, with increases in open order volumes and robust bidding activity.

Ferguson also completed five acquisitions during the quarter, expanding its presence in various US regions. The company has agreed to acquire FloWorks, a specialist in technical valves and flow control solutions, which is expected to close in Q3.