Slide 1: Third Quarter Results Presentation
Third Quarter Results Presentation Results to April 30, 2025
Slide 2: Legal Disclaimer
Legal Disclaimer Cautionary note on forward-looking statements Certain information included in this presentation and discussed on the conference call that this presentation accompanies is forward-looking, including within the meaning of the Private Securities Litigation Reform Act of 1995, and invol
Slide 3: Highlights and introduction
01 Highlights and introduction Kevin Murphy, CEO
Slide 4: Third quarter financial highlights
Third quarter financial highlights Net sales Growth driven by market outperformance $7.6b Organic growth +5.0%, with pricing broadly flat +4.3% vs Q3 2024 Acquisition growth +1.0%, offset by one fewer sales day and FX (1.7% impact) Adj. operating profit* Strong gross margin and disciplined cost man
Slide 5: Balanced approach to US end markets
Balanced approach to US end markets Q3 2025 Q3 2024 % of US net US net sales US net sales sales* growth/(decline) growth/(decline) Residential 51% +2% +1% Non-residential 49% +7% +4% Commercial 34% +7% +5% Civil/Infrastructure 8% +11% +6% Industrial 7% +5% (2)% 100% +4.5% +2.2% Acceleration in large
Slide 6: US Third quarter net sales
US Third quarter net sales Q3 2025 Q3 2024 % of US net Customer group net sales net sales sales* growth/(decline) growth/(decline) HVAC 12% +10% +4% Residential Trade Plumbing 17% (1)% +1% Residential Building and Remodel 14% +2% +1% Residential Digital Commerce 7% (4)% (12)% Waterworks 22% +12% +7%
Slide 7: Growth focus
Growth focus HVAC Waterworks Large Capital Projects Ferguson Home Q3 growth +10% Q3 growth +12% Q3 non-resi growth +7% Q3 brand launch Completed >550 of 650 planned Address the nation's aging Multi-customer group approach Combining digital solutions with dual-trade counter conversions infrastructure
Slide 8: Financial Review
02 Financial Review Bill Brundage, CFO
Slide 9: Third quarter financial highlights
Third quarter financial highlights $m (except per share amounts) Q3 2025 Q3 2024 Change Net sales 7,621 7,308 +4.3% Gross margin 31.0% 30.5% +50 bps Adjusted operating profit* 715 674 +6.1% Adjusted operating margin* 9.4% 9.2% +20 bps Adjusted earnings per share – diluted* $2.50 $2.32 +7.8% Adjusted
Slide 10: Segment financial highlights
Segment financial highlights $m Q3 2025 Q3 2024 Change Net sales US 7,288 6,974 +4.5% Canada 333 334 (0.3)% Total net sales 7,621 7,308 +4.3% Adjusted operating profit* US 726 685 +6.0% Canada 8 6 +33.3% Central and other costs (19) (17) Total adjusted operating profit 715 674 +6.1% * The Company us
Slide 11: Year to date financial highlights
Year to date financial highlights $m (except per share amounts) YTD 2025 YTD 2024 Change Net sales 22,265 21,689 +2.7% Gross margin 30.3% 30.4% (10) bps Adjusted operating profit* 1,870 1,967 (4.9)% Adjusted operating margin* 8.4% 9.1% (70) bps Adjusted earnings per share – diluted* $6.48 $6.72 (3.6
Slide 12: Cash flow – Year to date
Cash flow – Year to date $m YTD 2025 YTD 2024 Adjusted EBITDA* 2,030 2,109 Working capital (104) 20 Interest and tax (555) (667) Other items (4) 45 Operating cash flow 1,367 1,507 Capex (235) (263) Proceeds from the sale of assets 20 30 Free cash flow* 1,152 1,274 Continued strong cash generation *
Slide 13: Capital allocation
Capital allocation 1. Organic growth 2. Dividends 3. Acquisitions 4. Surplus capital returns Working capital • Quarterly dividend of $0.83 • Completed three acquisitions • $759m share repurchases per share, an increase of 5% during the third quarter, a total completed in fiscal year to date • Invent
Slide 14: FY2025 Guidance
FY2025 Guidance Updated 2025 Guidance Prior 2025 Guidance Net sales Low to mid-single digit growth Low single digit growth Adjusted operating margin* 8.5% - 9.0% 8.3% - 8.8% Interest expense $180 - $200 million $180 - $200 million Adjusted effective tax rate* ~26% ~26% Capital expenditures $300 - $3
Slide 15: Closing Remarks
03 Closing Remarks Kevin Murphy, CEO
Slide 16: Closing remarks
Closing remarks Thank you to our associates. 1. Our associates continued to take care of our customers, outperform the market and drive solid growth in the third quarter. 2. Gross margin actions, moderating deflation and the early benefits of streamlining our business delivered adjusted operating pr
Slide 17: Join us for Q&A
Join us for Q&A
Slide 18: Appendix
04 Appendix #% FERGUSON
Slide 19: Leading positions in highly fragmented North American markets
Leading positions in highly fragmented North American markets Residential Trade Plumbing HVAC $30b market 18% Share #2 Market Position ~$70b 5% Share $30b revenue with a market #3 Market Position Residential Building and Remodel $23b $29b market 9% Share 14% Share #1 Market Position ~$340b market op
Slide 20: Reconciliation of Net Income to Adjusted Operating Profit and Adjusted EBITDA
Reconciliation of Net Income to Adjusted Operating Profit and Adjusted EBITDA Three months ended Nine months ended April 30, April 30, (In millions) 2025 2024 2025 2024 Net income $410 $443 $1,156 $1,284 Provision for income taxes 147 138 395 421 Interest expense, net 46 43 140 132 Other (income) ex
Slide 21: Net Debt: Adjusted EBITDA Reconciliation
Net Debt: Adjusted EBITDA Reconciliation Net debt comprises bank overdrafts, bank and other loans and derivative financial instruments, excluding lease liabilities, less cash and cash equivalents. Long-term debt is presented net of debt issuance costs. A rolling 12-month adjusted EBITDA is used in t
Slide 22: Adjusted EBITDA Reconciliation
Adjusted EBITDA (Rolling 12-month) Reconciliation Adjusted EBITDA is net income before charges/credits relating to depreciation, amortization, impairment and certain non-GAAP adjustments. Twelve months ended (In millions, except ratios) April 30, 2025 2024 Net income $1,607 $1,868 Provision for inco
Slide 23: Reconciliation of Net Income to Adjusted Net Income and Adjusted EPS-Diluted
Reconciliation of Net Income to Adjusted Net Income and Adjusted EPS-Diluted Three months ended Nine months ended April 30, April 30, 2025 2024 2025 2024 (In millions, except per share amounts) per share(1) per share(1) per share(1) per share(1) Net income $410 $2.07 $443 $2.18 $1,156 $5.78 $1,284 $
Slide 24: Thank You
Thank You #% FERGUSON