The following is a summary of the Ferguson Enterprises Inc. (FERG) Q4 2024 Earnings Call Transcript:
Financial Performance:
In Q4, Ferguson achieved sales of $7.9 billion, marking a 1.4% increase year over year.
For the full year, revenue was approximately flat at $29.6 billion compared to the previous year.
Gross margins for the year improved slightly to 30.5%, a 10 basis point increase.Q4 adjusted operating profit rose 5.3% to $857 million, resulting in an adjusted operating margin of 10.8%.
Full-year adjusted operating profit was $2.8 billion, with an adjusted operating margin of 9.5%.
Adjusted diluted earnings per share for the year decreased by 1.5% to $9.69.
Business Progress:
Ferguson continued its strategy of market consolidation, integrating 10 new acquisitions contributing approximately $400 million in annualized revenue.
Invested $372 million in capital expenditures focused on optimizing the supply chain network and expanding digital and technological capabilities.
Emphasized the expansion of dual trade capabilities, specifically in the HVAC and residential trade plumbing sectors.
Opportunities:
Envisaged opportunities within large capital projects, driven by data centers, onshoring activities, and aging infrastructure.
The dual trade market, combining HVAC and plumbing services, is identified as a main growth vector.
Risks:
No explicit risks/opportunities detected.
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
