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.
弗格森企業公司（紐交所：FERG）的股票在公司公佈第一季度業績後下跌。
The company reported net sales of $7.77 billion, which was 0.8% higher year over year, missing the consensus of $7.83 billion.
公司報告的淨銷售額爲77.7億，與去年同比增長0.8%，未達到78.3億的預期。
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%.
有機營業收入下降了0.3%，收購增長帶來了1.1%的負面影響。美國業務的淨銷售額增長了0.5%，而加拿大的增長達到了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.
第一季度毛利率收縮10個點子，降至30.1%。調整後的營業利潤率從去年同期的10%收縮至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.
調整後的EBITDA從去年同期的81900萬下降至75800萬。調整後的每股收益爲2.45美元，未達到2.62美元的預期。
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.
公司宣佈每股季度股息爲0.83美元，比去年增長5%。股息將於2024年12月20日的股東記錄日支付，支付日爲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.
弗格森在該季度回購了價值25600萬的股票，目前在現有股票回購計劃中剩餘約60000萬。
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：弗格森預計2025財年的淨銷售增長在低個位數，調整後的營業利潤率爲9.0% – 9.5%，資本支出爲40000萬 – 45000萬。
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."
費格森首席執行官凱文·墨菲表示："雖然我們預計近期市場環境依然充滿挑戰，但我們將繼續在規模和能力上進行投資，以利用多年的結構性順風，如美國住房不足和老齡化、非住宅大型資本項目以及我們在管道和暖通空調專業領域的機會。"
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可交易ETF（納斯達克：PHO）和全球貨幣清潔水可交易ETF（納斯達克：AQWA）獲取該股票的投資機會。
Price Action: FERG shares are down 9.82% at $196.36 at the last check Tuesday.
價格動態：費格森的股票在週二最後檢查時下跌了9.82%，報196.36美元。
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