Ferguson Enterprises 2025 Outlook Updates Net Sales To ~5% Growth Vs Mid-Single Digit, Keeps Adjusted Operating Margin 9.4%–9.6%, And Lifts Capex To ~$350M

Benzinga·12/09/2025 11:49:10

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Calendar 2025 Guidance

	Updated Calendar 2025 Guidance January 1 - December 31, 2025	Prior Calendar 2025 Guidance January 1 - December 31, 2025
Net sales	~5% growth	Mid-single digit growth
Adjusted operating margin*	9.4% - 9.6%	9.2% - 9.6%
Interest expense	~$190 million	$180 - $200 million
Capital expenditures	~$350 million	$300 - $350 million
Adjusted effective tax rate*	~26%	~26%
* The Company does not reconcile forward-looking non-GAAP measures. See "Non-GAAP Reconciliations and Supplementary information".