Ferguson PLC 1H EPS $4.64
This flash was corrected to fix the figure. It is $4.64, not $4.49.
Corrections and Amplifications
This flash was corrected at 07.08 a.m. ET was used to correct the figure. It's $4.64 and not $4.49.
Corrections & Amplifications
This flash was corrected at 07:08 a.m. ET to fix the figure. It is $969M not, $996M.
Corrections and Amplifications
This flash was corrected at 07.08 a.m. ET to correct the figure. It's $1.38B and not $1.29B.
Corrections and Amplifications
This flash was corrected at 07.08 a.m. ET was used to correct the figure. It is $14.76B and not $13.31B.
Corrections and Amplifications
This flash was corrected at 07.08 a.m. ET to correct the figure. It's $1.29B and not $1.24B.
Corrections and Amplifications
This flash was corrected at 07.08 a.m. ET to correct the figure. It's $4.87 and not $4.43.
Ferguson PLC reported Tuesday a 14% drop in net income for its second quarter fiscal 2023. This was below market forecasts and supported its full-year guidance.
New York-listed supplier of heating and plumbing products was able to make a net profit of $374 million in the quarter that ended Jan. 31, compared to $436 million a year ago and a forecasted $403.2 million. This figure is based on FactSet data and an estimate from RBC Capital Markets.
The adjusted earnings before interest taxes, depreciation, amortization, and taxes was $630 million compared to $648 million. Based on three analysts' forecasts, the adjusted Ebitda consensus stood at $637.0 million.
The period's net sales rose 4.9% to $6.825billion, compared with $6.51billion and a consensus estimate of $6.745billion. These numbers were taken from FactSet and are based upon six analysts' forecasts.
According to the company, net sales growth is expected to be in the low single-digits for fiscal 2023. The adjusted operating margin for the year will be between 9.3% to 9.9%. It was 8.5% in the second quarter.
The board declared a dividend at 75 cents per share.
Chief Executive Kevin Murphy stated, "Looking ahead, our balanced exposure both residential and nonresidential end market, combined with an agile model, positions us well to face near term uncertainties."
He stated that "our financial guidance continues to reflect the market outperformance, both from organic and acquired acquisitions and we believe our size and advantaged platform positions us to capture growth in emerging structural trends within our end markets."