Ferguson Maintains FY25 Guidance Amid Tough Market, Q1 Misses Estimates
Ferguson Maintains FY25 Guidance Amid Tough Market, Q1 Misses Estimates
Gross margin contracted by 10 basis points to 30.1% in the first quarter. Adjusted Ferguson Enterprises Inc. (NYSE:FERG) shares are trading lower after the company reported first-quarter results.
弗格森企业公司（纽交所：FERG）的股票在公司公布第一季度业绩后下跌。
The company reported net sales of $7.77 billion, which was 0.8% higher year over year, missing the consensus of $7.83 billion.
公司报告的净销售额为77.7亿，与去年同比增长0.8%，未达到78.3亿的预期。
Organic revenue fell by 0.3%, with a 1.1% negative impact from acquisition growth. Net sales in the U.S. business increased by 0.5%, while that in Canada grew by 6.3%.
有机营业收入下降了0.3%，收购增长带来了1.1%的负面影响。美国业务的净销售额增长了0.5%，而加拿大的增长达到了6.3%。
Gross margin contracted by 10 basis points to 30.1% in the first quarter. Adjusted operating margin contracted to 9.1% from 10% a year ago quarter.
第一季度毛利率收缩10个基点，降至30.1%。调整后的营业利润率从去年同期的10%收缩至9.1%。
Adjusted EBITDA declined to $758 million from $819 million a year ago quarter. Adjusted EPS of $2.45, missing the consensus of $2.62.
调整后的EBITDA从去年同期的81900万下降至75800万。调整后的每股收益为2.45美元，未达到2.62美元的预期。
The company declared a quarterly dividend per share of $0.83, representing a growth of 5% over prior year. The dividend will be paid on February 6 to stockholders of record as of December 20, 2024.
公司宣布每股季度股息为0.83美元，比去年增长5%。股息将于2024年12月20日的股东记录日支付，支付日为2024年2月6日。
Ferguson repurchased shares worth $256 million in the quarter, with around $600 million remaining under the current share repurchase program.
弗格森在该季度回购了价值25600万的股票，目前在现有股票回购计划中剩余约60000万。
Outlook Reiterated: Ferguson expects FY25 net sales growth to be in low-single-digits, adjusted operating margin of 9.0% – 9.5%, and capital expenditures of $400 million – $450 million.
展望重申：弗格森预计2025财年的净销售增长在低个位数，调整后的营业利润率为9.0% – 9.5%，资本支出为40000万 – 45000万。
Kevin Murphy, Ferguson CEO, said, "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 plumbing and HVAC specialized professional."
费格森首席执行官凯文·墨菲表示："虽然我们预计近期市场环境依然充满挑战，但我们将继续在规模和能力上进行投资，以利用多年的结构性顺风，如美国住房不足和老龄化、非住宅大型资本项目以及我们在管道和暖通空调专业领域的机会。"
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可交易ETF（纳斯达克：PHO）和全球货币清洁水可交易ETF（纳斯达克：AQWA）获取该股票的投资机会。
Price Action: FERG shares are down 9.82% at $196.36 at the last check Tuesday.
价格动态：费格森的股票在周二最后检查时下跌了9.82%，报196.36美元。
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