Ferguson reports strong finish to the year with significant increases in sales and earnings.
Key financial metrics show positive growth in quarterly and annual performance.
Company announces changes to fiscal year-end for enhanced reporting structure.
Sales Growth
Quarterly sales increased by 6.9%, reaching $8.5 billion, with year-end sales up by 3.8% to $30.8 billion.
Profit Margins
Gross margin improved by 70 basis points in Q4, operating margin increased by 70 basis points, and diluted earnings per share rose by 59%.
Strategic Moves
Completed four acquisitions in Q4, invested in nine acquisitions for the year, and continued share repurchase program with $948 million utilized.
Financial Strength
Strong cash generation with $1.9 billion in operating cash flow, maintaining a solid balance sheet with net debt to adjusted EBITDA of 1.1x.
- Organic revenue growth at 5.8% in Q4 showcases strong performance amidst market challenges.
- Acquisition strategy contributing to revenue increase with a focus on organic and inorganic growth avenues.
- Changes in fiscal year-end aim to streamline reporting processes for better transparency and alignment with market standards.
Ferguson's financial results reflect a resilient performance in a challenging market, emphasizing growth through strategic acquisitions and operational excellence. The shift in fiscal year-end exemplifies the company's commitment to transparency and efficient reporting.