Shares of Ferguson Enterprises Inc. (FERG) are moving down about 8 percent on Tuesday morning, following a fall in first-quarter net income to $470 million or $2.34 a share from last year's $519 million or $2.54 a share.
The decline was primarily driven by higher selling, general, and administrative expenses.
Currently, Ferguson's stock is dropping 8.61 percent, to $198.98 over the previous close of $217.74 on the New York Stock Exchange.
On an adjusted basis, net income stood at $494 million or $2.45 a share compared to $543 million or $2.65 a share in the prior year.
However, revenue increased to $7.77 billion from $7.71 billion in the previous year.
Looking ahead, the company expects net sales to experience growth of low single digit for the fiscal year 2025.
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.