Ferguson Raises Outlook on Data Center Boom, Q2 Beats Across the Board
FERG sits 26% above its 52-week low of $207.64.
Summary
Ferguson posted a clean Q2 beat with adjusted EPS of $3.39 vs. $3.29 consensus and sales of $8.75B vs. $8.67B, driven by 8% non-residential growth. Management raised its full-year net sales outlook to mid-single-digit growth and lifted the lower end of its adjusted operating margin guidance to 9.5%-9.8%. The company specifically called out data center construction as the strongest part of its large-project market, with backlogs building. Capex guidance was also increased to $375M-$425M, signaling confidence in sustained demand. This follows the earlier Reuters report on the beat but adds the data center narrative and the capex hike, with shares up 2.5% in Monday's session.
At the time of this announcement, FERG was trading at $262.62 on NYSE in the Trade & Services sector, with a market capitalization of approximately $50.9B. The 52-week trading range was $207.64 to $271.64. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Benzinga.