On August 10, Ferguson Plc. rose 3.12% in regular trading, trading at approximately $264.37 per share, with turnover of $52.79 million. The rally was driven by the company's stronger-than-expected second-quarter results and an upward revision to full-year guidance.

Ferguson reported Q2 adjusted earnings per share of $3.39, surpassing the analyst consensus estimate of $3.29 by 3.04%, and up from $3.22 in the year-ago period. Net sales came in at $8.75 billion, exceeding the expected $8.668 billion, representing a 4.7% year-over-year increase. The company simultaneously raised its full-year outlook, now projecting mid-single-digit net sales growth compared with its prior guidance of low- to mid-single-digit growth, while maintaining an adjusted operating margin target of 9.5% to 9.8%.

The strong results follow Ferguson's $1.6 billion acquisition of FloWorks in July, which expanded its total addressable market to $400 billion and strengthened its non-residential value-added services capabilities. Truist has maintained a buy rating with a $300 price target, citing favorable cross-selling synergies.

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