Ferguson’s Revenue Climbs 24.5% in 3Q

Ferguson posts $5.9 billion in revenue in the third quarter as the U.S. economy heats up.
Ferguson fiscal 2022 2Q net sales

Ferguson PLC, (NYSE: FERG), based in Wokingham, United Kingdom, reported Wednesday that its third-quarter revenue climbed 24.5% from the same quarter a year ago to $5.9 billion while its trading profit increased 65.4% to $579 million.

As the U.S. market has started to open up this year, Ferguson said the strong revenue growth included 20.1% organic growth in the U.S., boosted by sequentially increasing sales price inflation and easing prior year revenue comparatives.

“Ferguson has brought forward its Q3 announcement as we delivered strong revenue and profit growth ahead of expectations,” said Ferguson CEO Kevin Murphy. “Our associates continued to provide outstanding service and support to our customers in the face of increasing supply chain pressures leading to product availability concerns. We were pleased with the strong earnings growth and margin expansion arising from continued operating efficiencies and pass through of acute price inflation as the US economy re-opens. We thank our 30,000 associates for their exceptional contribution to these results.

“Revenue picked up strongly through the quarter continuing into early May and we are pleased with the momentum in our business.”

Based on its better than expected third-quarter results, Ferguson now expects to generate group trading profit in FY2021, including the impact of IFRS 16, in the range of $2 billion to $2.10 billion.

Related Posts

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.