Ferguson plc Reports Earnings Results for the Second Quarter and Six Months Ended January 31, 2024
March 05, 2024 at 06:45 am EST
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Ferguson plc reported earnings results for the second quarter and six months ended January 31, 2024. For the second quarter, the company reported sales was USD 6,673 million compared to USD 6,825 million a year ago. Net income was USD 322 million compared to USD 374 million a year ago. Basic earnings per share from continuing operations was USD 1.58 compared to USD 1.81 a year ago. Diluted earnings per share from continuing operations was USD 1.58 compared to USD 1.8 a year ago.
For the six months, sales was USD 14,381 million compared to USD 14,756 million a year ago. Net income was USD 841 million compared to USD 969 million a year ago. Basic earnings per share from continuing operations was USD 4.13 compared to USD 4.66 a year ago. Diluted earnings per share from continuing operations was USD 4.12 compared to USD 4.64 a year ago.
Ferguson plc is a distributor engaged in providing solutions, and products from infrastructure, plumbing and appliances to heating, ventilation and air conditioning (HVAC), fire, fabrication, and more. Its USA segment operates primarily under the Ferguson brand and provides solutions, and products, from infrastructure, plumbing and appliances to HVAC, fire, fabrication and more, to residential and non-residential contractors. Its products are delivered through a common network of distribution centers, branches and specialist sales associates, counter service, showroom consultants and e-commerce. The Canada segment operates primarily under the Wolseley brand and supplies plumbing, HVAC, and refrigeration products to residential and commercial contractors. The Canada segment also supplies specialist water and wastewater treatment products to residential, commercial and infrastructure contractors, and supplies pipe, valves, and fittings (PVF) solutions to industrial customers.