Ferguson (NYSE: FERG) announced its third-quarter sales for the fiscal year 2022 were up 23.1% year over year to $7.24 billion. Ferguson’s U.S. business grew 23.9%, which comprised 23.7% organic growth with 1.8% acquisition growth, offset by 1.6% from one fewer trading day.
Net profits increased in the third quarter 2022 to $546 million from $369 million.
“Our associates continued to drive outstanding service and support for our customers, delivering further market share gains and a strong financial performance. Disciplined cost control ensured earnings growth continued to outpace revenue growth as we ran up against strong prior year comparables,” Ferguson CEO Kevin Murphy said.