Shares of Ferguson Plc. (FERG) are soaring 7.48% in pre-market trading on Tuesday following the release of the company's impressive third-quarter results that surpassed analyst expectations. The leading value-added distributor in the North American construction market demonstrated resilience and growth despite challenging market conditions.

Ferguson reported third-quarter sales of $7.621 billion, significantly beating the analyst consensus estimate of $7.421 billion. The company's adjusted earnings per share (EPS) came in at $2.50, well above the expected $2.02, representing a 23.76% surprise to the upside. This strong performance was driven by a 4.3% increase in net sales and improved gross margins, which expanded by 50 basis points to 31.0% compared to the previous year.

In light of the robust quarterly performance, Ferguson has updated its full-year guidance. The company now anticipates low to mid-single-digit revenue growth for fiscal year 2025, with an adjusted operating margin range of 8.5% to 9.0%. Additionally, Ferguson announced the implementation of targeted actions to streamline operations, which resulted in non-recurring charges of $68 million but are expected to generate annualized savings of approximately $100 million.

Kevin Murphy, CEO of Ferguson, expressed confidence in the company's market position, stating, "Our associates continued to take care of our customers, outperform the market and drive solid growth in the third quarter. While we are in a dynamic and uncertain environment, given the strong performance in the quarter, we are updating our full year guidance." The company's ability to navigate challenges and deliver strong results appears to be resonating well with investors, as reflected in the significant pre-market stock movement.