Ferguson Plc Q1 Profit Tops Estimates; Organic Revenue Down 4.9%

(RTTNews) - Ferguson plc (FERG) reported that its first quarter net income declined to $519 million from $595 million, last year. Reported earnings per share was $2.54 compared to $2.84, a decrease of 10.6%. Adjusted earnings per share was $2.65, decreased 10.2% from last year. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $2.62, for the quarter. Analysts' estimates typically exclude special items.

Net sales were $7.7 billion, 2.8% below last year. Organic revenue declined 4.9%, for the quarter. Analysts on average had estimated $7.65 billion in revenue.

The company's fiscal 2024 financial guidance is unchanged.

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