Ferguson Enterprises Inc. /DE/ SEC 10-Q Report
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Ferguson Enterprises Inc., a leading distributor of plumbing and HVAC supplies, has released its Form 10-Q report for the third quarter of fiscal 2025. The report highlights the company's financial performance and operational achievements, providing insights into its growth trajectory and strategic initiatives.
Financial Highlights
Ferguson Enterprises Inc. reported the following key financial metrics for the third quarter of fiscal 2025:
- Net sales: $7,621 million, an increase of 4.3% compared to the third quarter of fiscal 2024, primarily driven by higher sales volume and incremental revenue from acquisitions.
- Gross profit: $2,359 million, up by 5.7% from the same period in fiscal 2024, reflecting increased net sales and improved pricing.
- Operating profit: $606 million, a decrease of 3.0% compared to the third quarter of fiscal 2024, mainly due to $70 million in non-recurring restructuring expenses.
- Net income: $410 million, down by 7.4% from the third quarter of fiscal 2024, impacted by restructuring expenses and higher interest expenses.
- Earnings per share - Diluted: $2.07, a decrease of 5.0% compared to the third quarter of fiscal 2024, influenced by lower net income and share repurchases.
Business Highlights
The company's operational performance for the third quarter of fiscal 2025 includes the following highlights:
- Revenue Segments: The United States segment experienced a 4.5% increase in net sales, driven by higher sales volume and acquisitions, despite a 1.5% impact from one less sales day. Non-residential markets grew approximately 7%, with notable increases in Commercial, Civil/Infrastructure, and Industrial sales.
- Geographical Performance: In the Canada segment, net sales decreased slightly by 0.3% due to foreign currency exchange rates and fewer sales days, partially offset by acquisitions and price inflation. Year-to-date sales increased by 3.2%, driven by acquisitions and price inflation.
- Operational Efficiency: The company implemented targeted actions to streamline operations, incurring $68 million in business restructuring expenses aimed at enhancing speed and efficiency to better serve customers.
- Future Outlook: Management anticipates continued growth in non-residential markets and is focused on capturing value through improved pricing strategies and operational efficiencies. The company expects to leverage acquisitions to support growth in both the United States and Canada segments.
SEC Filing: Ferguson Enterprises Inc. /DE/ [ FERG ] - 10-Q - Jun. 03, 2025