Earnings Snapshot
Ferguson reported adjusted earnings of $3.39 per share, topping the $3.29 analyst estimate. Sales rose 4.6% year over year to $8.75 billion, above the $8.67 billion consensus estimate.
Gross margin fell 20 basis points to 31.0%, while adjusted operating margin declined 10 basis points to 10.7%.
Ferguson declared a quarterly dividend of 89 cents per share and repurchased $202 million of shares during the quarter.
CEO Kevin Murphy said the company continued to outperform its markets, supported by strong non-residential growth and a return to residential growth despite challenging conditions.
