Ferguson Enterprises down after Q1 results miss

Ferguson Enterprises

10/12/2024 15:08

(Updates)
** Plumbing and air conditioning equipment supplier Ferguson
Enterprises'  FERG.N  shares down as much as 11.6% to $192.45,
lowest since Oct. 7
    ** Company posts Q1 net sales of $7.77 bln vs est $7.83 bln
- LSEG
    ** Reports Q1 adj EPS of $2.45 vs est $2.62
    ** Ferguson says continued weakness in certain
commodity-related categories drove ~2% overall price deflation,
while volumetric growth, cost inflation and continued investment
in core capabilities hurt profits
    ** Company also reiterates FY 2025 forecasts for net sales,
adj operating margin and capital expenditure
    ** As of Monday's close, stock up 12.8% YTD

(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com))