Ferguson Forecasts Rising Margins As CEO Stresses Investment In Growth Areas

Ferguson Enterprises Inc. (NYSE:FERG) shares surged after it reported fourth-quarter 2024 sales of $8.5 billion, a 6.9% increase from last year, beating analyst estimates of $8.41 billion. Adjusted earnings per share were $3.48, ahead of expectations of $2.88 and up 16.8% from the prior year. GAAP diluted EPS was $3.55, up 59.2% from $2.23. Gross margin expanded 70 basis points to 31.7%. Reported operating profit rose 14.1% to $925 million, while adjusted operating profit increased 13.4% to $972 million. ...