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Ferguson expects higher sales this year because of strong demand from businesses and recent purchases.

ResultsRead the original at Benzinga
Good for FERG

Ferguson beat sales and profit estimates and raised its sales and operating margin forecasts, with U.S. nonresidential sales growing strongly. Lower gross margin, falling Canadian sales, and paused buybacks temper the gains but do not outweigh the stronger results and forecasts.

FERG · Ferguson Enterprises Inc.

AI read · Good for FERG

The AI's read

The U.S. business gives the clearest reason for the positive read. Nonresidential sales rose on market-share gains, large projects, and stronger orders. Lower gross margin and falling Canadian sales show gains were uneven. The company paused buybacks after its FloWorks deal, but still raised its forecasts.

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