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Latest In Ferguson
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The company reported 2022 fiscal first-quarter net sales of more than $6.8 billion, a 26.6% increase over the company’s fiscal 1Q in 2021
Ferguson’s underlying trading profit for the year that ended July 31 was $2.1 billion, which marked a 32%% increase from a year ago.
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Ferguson posts $5.9 billion in revenue in the third quarter as the U.S. economy heats up.
Ferguson invested $224 million in acquisitions during the first half of fiscal 2021.
Shares of the global plumbing giant will be listed in the U.S. and traded under the ticker symbol “FERG.”
The company announced in January it was selling the division to the private equity firm Clayton, Dubilier and Rice for £308 million (US$417.5 million).
After low-single-digit growth in 1Q, plumbing and HVAC distributor Ferguson PLC projects for the coming year accelerating M&A activity plus upbeat residential construction and renovation to offset softness in the commercial market.
Ferguson’s U.S. region posted ongoing revenue growth of 3.2% and underlying trading profit growth of 11.3% in the first quarter of fiscal 2021.
Go behind the scenes of Ferguson and Grainger, learn what’s driving building material M&A, discover the distribution leaders of tomorrow and see what Amazon does better than anyone by checking out MDM’s most-read blogs from last month.
Plumbing and HVAC distribution giant Ferguson adds Old Dominion Supply Inc. and Atlantic Construction Fabrics Inc. to its portfolio.
Strategic activity from leading distributors like Ferguson, Grainger and Fastenal led to the most-read blogs of October 2020.
After pausing M&A activity back in March due to COVID-19, Ferguson says it has some deals in the pipeline, so it’s only a matter of time before the distributor again starts growing through acquisition.
Despite minor blip in global sales, Ferguson’s U.S. revenue grew 2.7% during the fiscal year with underlying trading profit growth of 5.2%.
Ferguson PLC on Tuesday announced the appointment of Bill Brundage as CFO and an executive director, effective November 1.
