Ferguson Reports Mixed Q4 Results, Expects 'Challenging Near Term Market Environment'
Ferguson Reports Mixed Q4 Results, Expects 'Challenging Near Term Market Environment'
Net sales in the U.S. business increased by 1.3%, while that in Canada grew by 2.0%.Ferguson (NYSE:FERG) shares are trading slightly higher after it reported fourth-quarter results.
菲格森（FERG股票代码：纽交所）发布第四季度的业绩报告后股价略有上涨。
The company reported net sales of $7.946 billion, which was 1.4% higher year over year, missing the consensus of $7.993 billion. Organic revenue fell by 0.2%, with a 0.1% negative impact from foreign exchange.
该公司报告了7946百万美元的净销售额，同比增长1.4%，低于市场预期的7993百万美元。有机收入下降了0.2%，其中由于汇率期货的负面影响导致0.1%的下降。
The company witnessed price deflation of around 2% due to weakness in certain commodity categories, which was partially offset by a 2% increase in organic volumes.
该公司在某些商品类别的疲软导致物价通缩约2%，但有机销量增长了2%。
Net sales in the U.S. business increased by 1.3%, while that in Canada grew by 2.0%.
美国业务的净销售额增长了1.3%，而加拿大的净销售额增长了2.0%。
Adjusted gross margin expanded by 40 basis points to 31.0% in the fourth quarter. Adjusted operating margin increased 40 basis points year-over-year basis at 10.8%. Adjusted EBITDA rose 5.6% Y/Y to $906 million.
第四季度的调整后毛利率扩大了40个基点，达到31.0%。调整后营业利润率同比增长了40个基点，达到10.8%。调整后的EBITDA同比增长了5.6%，达到90600万美元。
Adjusted EPS of $2.98 exceeded the consensus of $2.82.
调整后的每股收益为2.98美元，超过市场预期的2.82美元。
The company declared a quarterly dividend per share of $0.79. The dividend will be paid on November 8 to stockholders of record as of September 27, 2024.
公司宣布每股股息为0.79美元的季度股息。该股息将于2024年9月27日的股东名单上记录的股东在11月8日支付。
Ferguson repurchased shares worth $213 million in the quarter. As of July-end, the company had about $900 million remaining under the current share repurchase program.
菲格森在本季度回购了价值21300万美元的股票。截至7月底，公司在当前股票回购计划下还剩约90000万美元。
Outlook: Ferguson expects FY25 net sales growth to be in low-single-digits, adjusted operating margin of 9.0% – 9.5% and capital expenditure of $400 million – $450 million.
展望: 弗格森预计FY25净销售增长将保持个位数增长，调整后营业利润率为9.0% - 9.5%，资本支出为4亿 - 4.5亿美元。
Kevin Murphy, Ferguson CEO, said, "Our fiscal 2025 guidance reflects modest full year growth with continued market outperformance. While we anticipate an ongoing challenging near term market environment, we will continue to invest in scale and capabilities to take advantage of multi-year structural tailwinds such as underbuilt and aging U.S. housing, non-residential large capital projects and, our opportunity with the dual-trade plumbing and HVAC contractor."
Ferguson首席执行官凯文·墨菲表示:"我们2025财年的指导反映了适度的全年增长，继续在市场上表现出色。尽管我们预计未来市场环境仍具有挑战性，但我们将继续投资于规模和能力，以利用多年的结构性向好之势，如美国住房供应不足和老化、非住宅大型资本项目以及我们与双贸易的管道和暖通空调承包商的机遇。"
Investors can gain exposure to the stock via Invesco Water Resources ETF (NASDAQ:PHO) and Global X Clean Water ETF (NASDAQ:AQWA).
投资者可以通过景顺水资源交易所交易基金（NASDAQ:PHO）和全球清洁水交易所交易基金（NASDAQ:AQWA）来获得该股的参与。
Price Action: FERG shares are up 1.33% at $199.84 premarket at the last check Tuesday.
价格走势: FERG股票在周二最后检查时盘前上涨1.33%至199.84美元。
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