Ferguson Q1 Sales: Beating Headwinds, Eyeing Growth
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Fergusons Q1 sales surged by 0.8% to $7.8 billion, beating volumes by nearly 1% despite market slowdowns and commodity price deflation. Adjusted operating profit hit $706 million at a 9.1% margin, while earnings per share dipped 7.5% to $2.45. Organic sales dipped 0.3%, but acquisitions added 1.1%, with volumes rising 3% overall. US sales grew 0.5%, led by HVAC and waterworks. Execs praised team execution amid headwinds, and guidance remains firm with low single-digit sales growth and operating margins of 9-9.5%. They closed two deals, raised dividends 5% to $0.83 per share, and repurchased $256 million in shares. Fergusons scale and investments position them to capitalize on housing shortages and demand when markets rebound.
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