Ferguson Enterprises said net sales for the quarter ended October 31, 2025 were $8.2 billion, an increase of 5.1% compared with the first quarter of fiscal 2025, and operating profit increased 15.9% (adjusted operating profit increased 14.4%).

1. 01

   Ferguson Enterprises said net sales for the quarter ended October 31, 2025 were $8.2 billion, an increase of 5.1% compared with the first quarter of fiscal 2025, and operating profit increased 15.9% (adjusted operating profit increased 14.4%).

2. 02

   The company cited price inflation of approximately 3%, incremental sales from acquisitions of 1.0% and higher sales volume as factors in the sales increase. It said net sales in non-residential markets in the United States segment increased approximately 12% while residential markets decreased approximately 1%.

3. 03

   Ferguson Enterprises said gross profit as a percentage of sales was 30.7%, compared with 30.1% in the first quarter of fiscal 2025, SG&A as a percentage of sales was 20.1%, down from 20.4%, and the effective tax rate was 19.9%, down from 24.7%.

4. 04

   The company said net cash provided by operating activities for the quarter was $430 million, an increase compared with $345 million in the prior year. It received $747 million from the issuance of 2031 Senior Notes and repaid $400 million in Private Placement Notes.

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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