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Headquarters: Newport News, VA
2014 Revenues: $11.9 billion
Change in Sales from 2013: 12.2%
Employees: 22,810 (total)
Locations: 1,377 (U.S.); 220 (Canada)
Number of New Locations: 21
2014 Acquisitions: HP Products; Goodman Industrial; Puukeskus; Karl's Appliance; Waterworks Industries; Factory Direct Appliance; Pollardwater; Powell Pope; City Lights Design Showroom; Global HVAC; McFarland Supply Company; Ship-Pac
2014 Divestments: ÖAG
Key Executives: Gareth Davis, chairman; Ian Meakins, chief executive; John Martin, CFO; Tony England, CIO; Frank Roach, CEO, USA; Kevin Murphy, Ferguson COO; Dave Keltner, Ferguson CFO
Wolseley Industrial Group – Ferguson's market brand for its industrial business – and Wolseley Canada sell plumbing supplies, PVF, HVACR, waterworks and industrial supplies, as well as kitchen, bath and lighting, and safety and fire protection products.
Ferguson sales grew 10 percent to $11.6 billion. The RMI market continued to grow steadily while growth in the new residential market remained modest. The commercial segment was more positive. Waterworks grew strongly, and the HVAC, fire and fabrication and industrial PVF businesses generated good growth. Build.com and e-commerce channels accounted for 16 percent of total revenue. Four bolt-on acquisitions were made during the year and seven new branches were opened.
Thanks to the economy growing in all areas and improved consumer confidence, Ferguson expects growth across most sectors, especially in commercial construction. However, the residential new construction market has continued to be sluggish while the industrial market is mixed. Also, outside of oil prices, another threat to the industrial sector is the strength of the U.S. dollar.
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