Ferguson 1Q Revenue, Profit Rose; Raises Full-Year View
07 Dezembro 2021 - 4:47AM
Dow Jones News
By Joe Hoppe
Ferguson PLC said Tuesday that its performance for the first
quarter of fiscal 2022 was marked by a rise in operating profit and
revenue, and raised its full-year outlook.
The plumbing-and-heating products distributor posted an
operating profit for the three months ended Oct. 31 of $739 million
on a reported basis up from $450 million for the year-earlier
period.
Adjusted operating profit rose 59% to $767 million, while
adjusted earnings before interest, taxes, depreciation and
amortization rose 55% on year to $814 million.
Revenue rose to $6.80 billion from $5.37 billion, the company
added.
In Ferguson's core U.S. business, sales rose 27% comprising 25%
in organic growth and 2% from acquisitions. Ferguson said its
Canadian unit's revenue rose 20%, with organic growth of 14% and a
further 6% growth from beneficial foreign-exchange rates.
The company said price inflation increased to the low teens in
the quarter, but it managed to generate strong growth from its
ability to manage inflation and good cost control.
"Given the strong momentum in the business and the agility of
our business model, our full year expectations have increased,"
Chief Executive Kevin Murphy said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
December 07, 2021 02:32 ET (07:32 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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