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Jul 31, 2024
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Ferguson Q4 2024 Earnings Report
Ferguson's Q4 2024 financial results showed sales growth and improved operating margin, but earnings per share were impacted by one-time tax charges.
Key Takeaways
Ferguson reported a 1.4% increase in net sales to $7.9 billion for the fourth quarter. The operating margin increased by 20 bps to 10.2%. Diluted earnings per share were $2.23, while adjusted diluted earnings per share reached $2.98.
Sales increased by 1.4% to $7.9 billion, despite deflation.
Operating margin grew by 20 bps to 10.2% (10.8% on an adjusted basis).
Diluted earnings per share were $2.23 ($2.98 on an adjusted basis).
Four acquisitions were completed during the quarter.
Revenue by Geographic Location
Forward Guidance
Ferguson anticipates modest full year growth with continued market outperformance for fiscal year 2025.
Positive Outlook
- Continued market outperformance
- Investments in scale and capabilities
- Multi-year structural tailwinds (underbuilt and aging U.S. housing)
- Non-residential large capital projects
- Opportunity with the dual-trade plumbing and HVAC contractor
Challenges Ahead
- Challenging near term market environment
- Markets are down low single digits
- Pricing slightly down for the year
- One fewer sales day
- Ongoing challenging near term market environment
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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