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股票代碼：紐交所）發佈第四季度的業績報告後股價略有上漲。
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.
該公司報告了7946百萬美元的淨銷售額，同比增長1.4%，低於市場預期的7993百萬美元。有機收入下降了0.2%，其中由於匯率期貨的負面影響導致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.
該公司在某些商品類別的疲軟導致物價通縮約2%，但有機銷量增長了2%。
Net sales in the U.S. business increased by 1.3%, while that in Canada grew by 2.0%.
美國業務的淨銷售額增長了1.3%，而加拿大的淨銷售額增長了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.
第四季度的調整後毛利率擴大了40個點子，達到31.0%。調整後營業利潤率同比增長了40個點子，達到10.8%。調整後的EBITDA同比增長了5.6%，達到90600萬美元。
Adjusted EPS of $2.98 exceeded the consensus of $2.82.
調整後的每股收益爲2.98美元，超過市場預期的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.
公司宣佈每股股息爲0.79美元的季度股息。該股息將於2024年9月27日的股東名單上記錄的股東在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.
菲格森在本季度回購了價值21300萬美元的股票。截至7月底，公司在當前股票回購計劃下還剩約90000萬美元。
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: 弗格森預計FY25淨銷售增長將保持個位數增長，調整後營業利潤率爲9.0% - 9.5%，資本支出爲4億 - 4.5億美元。
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首席執行官凱文·墨菲表示:"我們2025財年的指導反映了適度的全年增長，繼續在市場上表現出色。儘管我們預計未來市場環境仍具有挑戰性，但我們將繼續投資於規模和能力，以利用多年的結構性向好之勢，如美國住房供應不足和老化、非住宅大型資本項目以及我們與雙貿易的管道和暖通空調承包商的機遇。"
Investors can gain exposure to the stock via Invesco Water Resources ETF (NASDAQ:PHO) and Global X Clean Water ETF (NASDAQ:AQWA).
投資者可以通過景順水資源交易所交易基金（NASDAQ:PHO）和全球清潔水交易所交易基金（NASDAQ:AQWA）來獲得該股的參與。
Price Action: FERG shares are up 1.33% at $199.84 premarket at the last check Tuesday.
價格走勢: FERG股票在週二最後檢查時盤前上漲1.33%至199.84美元。
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