Filing Flows › Ferguson Enterprises (FERG) › Q2 2025
Ferguson Enterprises (FERG) Q2 2025 earnings results (second quarter 2025)
10-K filed Sep 26, 2025
Ferguson Enterprises (FERG) reported revenue of $8.5B for the second quarter 2025 (Q2 2025), +7% from a year earlier and +11% from the quarter before. Operating margin was 10.9%, net earnings $700M (8.2% of revenue).
Ferguson Enterprises, Q2 2025: revenue $8.5B (+7% year over year), operating margin 10.9%, net earnings $700M, operating cash flow $541M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.5B | +11% | +7% |
| Gross profit | $2.7B | +14% | +9% |
| Operating profit | $925M | +53% | +14% |
| Net earnings | $700M | +71% | +55% |
| Operating cash flow | $541M | -21% | +48% |
| Free cash flow | $471M | -22% | +83% |
What changed
Revenue was $8.5B in Q2 2025, up 7% year over year and up 11% from the previous quarter. United States Segment was the largest line at 95% of revenue.
Gross margin was 31.7%, up 0.7 points from Q2 2024. Operating profit was $0.93B, a 10.9% margin (up 0.7 points year over year). Of the extra revenue versus Q2 2024, 21% reached operating profit, above the 10% margin then. Operating expenses grew 7% against revenue growth of 7%. Net earnings were $0.70B, up 55% year over year. The effective tax rate was 19.7%.
Operating cash flow was $0.54B (up 48% year over year), 77% of net earnings. Non-cash charges added back $0.10B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.26B. Capital expenditures of $0.07B left free cash flow of $0.47B.
Questions
What was Ferguson Enterprises' revenue in the second quarter 2025?
Ferguson Enterprises (FERG) reported revenue of $8.5B for the second quarter 2025 (Q2 2025), +7% from a year earlier and +11% from the quarter before.
Was Ferguson Enterprises profitable in the second quarter 2025?
Operating profit was $925M (10.9% of revenue) and net earnings $700M.