Ferguson Reports Fourth Quarter and Year End Results
Strong Finish to the Year; Changes to Fiscal Year Announced
Fourth quarter highlights
-
Sales of
$8.5 billion 6.9% . -
Gross margin of
31.7% , up 70 bps from prior year. -
Operating margin of
10.9% , up 70 bps on prior year (11.4% , up 60 bps on an adjusted basis). -
Diluted earnings per share of
$3.55 59% ($3.48 16.8% ). -
Declared quarterly dividend of
$0.83 - Completed four acquisitions during the quarter.
-
Share repurchases of
$189 million - Ferguson is changing its fiscal year-end from July 31 to December 31. Following a five-month transition period (August 1, 2025 to December 31, 2025), we will begin reporting on a calendar year basis effective January 1, 2026.
Full year highlights
-
Sales were
$30.8 billion 3.8% , with continued market share gains. -
Gross margin of
30.7% was 20 bps ahead of last year. -
Operating margin of
8.5% , down 40 bps on prior year (9.2% , down 30 bps on an adjusted basis). -
Diluted earnings per share of
$9.32 9.3% ($9.94 2.6% on an adjusted basis). -
Strong cash generation with
$1.9 billion -
Declared dividends of
$3.32 5% growth over the prior year. -
Invested
$301 million $300 million -
Share repurchases of
$948 million $1.0 billion - Balance sheet remains strong with net debt to adjusted EBITDA of 1.1x.
Ferguson Enterprises Inc. (NYSE: FERG; LSE: FERG). Kevin Murphy, Ferguson CEO, commented “Our associates delivered strong results to finish the year, as they continued to serve our customers and execute our strategy in a challenging market environment. Throughout the year, we invested in key growth areas to drive further organic growth, completed nine acquisitions, grew our dividend and continued to execute our share buyback program, while maintaining a strong balance sheet. While we continue to operate in an uncertain environment, we remain confident in our markets over the medium term, leveraging multiyear tailwinds in both residential and non-residential markets as we invest to support the complex project needs of the water and air specialized professional.”
|
Three months ended July 31, |
|
|
|||
US$ (In millions, except per share amounts) |
2025 |
2024 |
Change |
|||
|
Reported |
Adjusted(1) |
Reported |
Adjusted(1) |
Reported |
Adjusted |
Net sales |
8,497 |
8,497 |
7,946 |
7,946 |
+ |
+ |
|
|
|
|
+70 bps |
+70 bps |
|
925 |
972 |
811 |
857 |
+ |
+ |
|
|
|
|
|
+70 bps |
+60 bps |
|
Earnings per share - diluted |
3.55 |
3.48 |
2.23 |
2.98 |
+ |
+ |
Adjusted EBITDA |
|
1,029 |
|
906 |
|
+ |
|
Twelve months ended July 31, |
|
|
|||
US$ (In millions, except per share amounts) |
2025 |
2024 |
Change |
|||
|
Reported |
Adjusted(1) |
Reported |
Adjusted(1) |
Reported |
Adjusted |
Net sales |
30,762 |
30,762 |
29,635 |
29,635 |
+ |
+ |
Gross margin |
|
|
|
|
+20 bps |
+20 bps |
Operating profit |
2,606 |
2,842 |
2,652 |
2,824 |
(1.7)% |
+ |
Operating margin |
|
|
|
|
(40) bps |
(30) bps |
Earnings per share - diluted |
9.32 |
9.94 |
8.53 |
9.69 |
+ |
+ |
Adjusted EBITDA |
|
3,059 |
|
3,015 |
|
+ |
Net debt(1) : Adjusted EBITDA |
|
1.1x |
|
1.1x |
|
|
(1) |
The Company uses certain non-GAAP measures, which are not defined or specified under |
Summary of financial results
Fourth quarter
Net sales of
Gross margin was
Reported operating profit of
Reported diluted earnings per share was
Full year
Net sales of
Gross margin of
Reported diluted earnings per share was
During the year we acquired nine businesses which in aggregate generate annualized revenue of approximately
Net sales in the US business grew
Residential end markets, representing approximately half of US revenue, remained muted. New residential housing starts and permit activity weakened during the second half of our fiscal year. Repair, maintenance and improvement (“RMI”) work has also remained soft. Overall, residential revenue was flat in the fourth quarter.
Non-residential end markets, representing approximately half of US revenue, showed continued resilience with non-residential revenue growing by approximately
Adjusted operating profit of
We completed four acquisitions during the quarter that included HPS Specialties, LLC, a manufacturer’s representative of HVAC, plumbing and hydronic supplies serving commercial mechanical and industrial engineering professionals in the Northeast and Mid-Atlantic regions. In addition, we acquired Ritchie Environmental Solutions, LLC, a process equipment manufacturer’s representative serving the water and wastewater treatment market in
Net sales grew by
Segment overview
|
Three months ended July 31, |
|
|
Twelve months ended July 31, |
|
||||||
US$ (In millions) |
2025 |
2024 |
Change |
|
2025 |
2024 |
Change |
||||
Net sales: |
|
|
|
|
|
|
|
||||
|
8,059 |
|
7,528 |
|
+ |
|
29,269 |
|
28,195 |
|
|
|
438 |
|
418 |
|
+ |
|
1,493 |
|
1,440 |
|
|
Total net sales |
8,497 |
|
7,946 |
|
+ |
|
30,762 |
|
29,635 |
|
|
|
|
|
|
|
|
|
|
||||
Adjusted operating profit: |
|
|
|
|
|
|
|
||||
|
962 |
|
844 |
|
+ |
|
2,840 |
|
2,820 |
|
|
|
24 |
|
22 |
|
+ |
|
66 |
|
60 |
|
|
Central and other costs |
(14 |
) |
(9 |
) |
|
|
(64 |
) |
(56 |
) |
|
Total adjusted operating profit |
972 |
|
857 |
|
+ |
|
2,842 |
|
2,824 |
|
|
Financial position
Net debt to adjusted EBITDA at July 31, 2025 was 1.1x and during the year we invested
We have declared a quarterly dividend of
There have been no other significant changes to the financial position of the Company.
Changes to fiscal year and calendar 2025 guidance
Ferguson is changing its fiscal year-end from July 31 to December 31. This change allows our associates to remain focused on our customers during our busiest season. Following a five-month transition period (August 1, 2025 to December 31, 2025), we will begin reporting on a calendar year basis effective January 1, 2026. Relevant historical financial information and related non-GAAP reconciliations will be available in the appendix of the fourth quarter results presentation.
We will release earnings on December 9, 2025, covering the three-month period of August 1, 2025 through October 31, 2025. We plan to announce our five-month transition period results in late February 2026.
As a result of this change, we are providing guidance for the 2025 calendar year. Markets remain uncertain but we expect mid-single digit revenue growth with an adjusted operating margin range of
|
Calendar 2024 Actuals January 1 - December 31, 2024 (Unaudited) |
Calendar 2025 Guidance January 1 - December 31, 2025
|
Net sales |
|
Mid-single digit growth |
Adjusted operating margin* |
|
|
Interest expense |
|
|
Capital expenditures |
|
|
Adjusted effective tax rate* |
|
~ |
* The Company does not reconcile forward-looking non-GAAP measures. See “Non-GAAP Reconciliations and Supplementary information”. |
Investor conference call and webcast
A call with Kevin Murphy, CEO and Bill Brundage, CFO will commence at 8:30 a.m. ET (1:30 p.m. BST) today. The call will be recorded and available on our website after the event at corporate.ferguson.com.
Dial in number |
|
US: |
+1 646 233 4753 |
|
|
|
+44 (0) 20 3936 2999 |
Ask for the Ferguson call quoting 067663. To access the call via your laptop, tablet or mobile device please go to corporate.ferguson.com. If you have technical difficulties, please click the “Listen by Phone” button on the webcast player and dial the number provided.
About Ferguson
Ferguson (NYSE: FERG; LSE: FERG) is the largest value-added distributor serving the water and air specialized professional in our
Analyst resources
For further information on quarterly financial breakdowns, visit corporate.ferguson.com on the Investors menu under Analysts and Resources.
Financial calendar
Results for three-month period ending October 31, 2025 |
December 9, 2025 with call from 8:30 a.m. ET |
Cautionary note on forward-looking statements
Certain information included in this announcement is forward-looking, including within the meaning of the Private Securities Litigation Reform Act of 1995, and involves risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed or implied by forward-looking statements. Forward-looking statements cover all matters which are not historical facts and include, without limitation, statements or guidance regarding or relating to our future financial position, results of operations and growth, plans and objectives for the future including our capabilities and priorities, risks associated with changes in global and regional economic, market and political conditions, ability to manage supply chain challenges, ability to manage the impact of product price fluctuations, our financial condition and liquidity, legal or regulatory changes and other statements concerning the success of our business and strategies. Forward-looking statements can be identified by the use of forward-looking terminology, including terms such as “believes,” “estimates,” “anticipates,” “expects,” “forecasts,” “guidance,” “intends,” “continues,” “plans,” “projects,” “goal,” “target,” “aim,” “may,” “will,” “would,” “could” or “should” or, in each case, their negative or other variations or comparable terminology and other similar references to future periods. Forward-looking statements speak only as of the date on which they are made. They are not assurances of future performance and are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Therefore, you should not place undue reliance on any of these forward-looking statements. Although we believe that the forward-looking statements contained in this announcement are based on reasonable assumptions, you should be aware that many factors could cause actual results to differ materially from those contained in such forward-looking statements, including but not limited to: weakness in the economy, market trends, uncertainty and other conditions in the markets in which we operate and the macroeconomic impact of factors beyond our control (including, among others, inflation/deflation, recession, labor and wage pressures, trade restrictions such as tariffs, sanctions and retaliatory countermeasures, interest rates, and geopolitical conditions); failure to rapidly identify or effectively respond to direct and/or end customers’ wants, expectations or trends, including costs and potential problems associated with new or upgraded information technology systems or our ability to timely deploy new omni-channel capabilities; decreased demand for our products as a result of operating in highly competitive industries and the impact of declines in the residential and non-residential markets and our ability to effectively manage inventory as a result; changes in competition, including as a result of market consolidation, new entrants, vertical integration or competitors responding more quickly to emerging technologies (such as generative artificial intelligence (“AI”)); failure of a key information technology system or process as well as payment-related risks, including exposure to fraud or theft; privacy and protection of sensitive data failures, including failures due to data corruption, cybersecurity incidents, network security breaches or the use of AI; ineffectiveness of or disruption in our domestic or international supply chain or our fulfillment network, including delays in inventory availability at our distribution facilities and branches, increased delivery costs or lack of availability due to loss of key suppliers; failure to effectively manage and protect our facilities and inventory or to prevent personal injury to customers, suppliers or associates, including as a result of workplace violence; unsuccessful execution of our operational strategies; failure to attract, retain and motivate key associates; exposure of associates, contractors, customers, suppliers and other individuals to health and safety risks and fleet incidents; risks associated with acquisitions, partnerships, joint ventures and other business combinations, dispositions or strategic transactions; risks associated with sales of private label products, including regulatory, product liability and reputational risks and the adverse impact such sales may have on supplier relationships and rebates; the failure to achieve and maintain a high level of product and service quality or comply with responsible sourcing standards; inability to renew leases on favorable terms or at all, as well as any remaining obligations under a lease when we close a facility; changes in, interpretations of, or compliance with tax laws and accounting standards; our access to capital, indebtedness and changes in our credit ratings and outlook; fluctuations in product prices/costs (e.g., including as a result of the use of commodity-priced materials, inflation/deflation, trade restrictions and/or failure to qualify for or maintain supplier rebates) and foreign currency; funding risks related to our defined benefit pension plans; legal proceedings in the ordinary course of our business as well as any failure to comply with domestic and foreign laws, regulations and standards, as those laws, regulations and standards or interpretations and enforcement thereof may change; the occurrence of unforeseen developments such as litigation, investigations, governmental proceedings or enforcement actions; our failure to comply with the obligations associated with being a public company listed on the New York Stock Exchange and London Stock Exchange and the costs associated therewith; the costs and risk exposure relating to sustainability matters and disclosures, including regulatory or legal requirements and disparate stakeholder expectations; and other risks and uncertainties set forth under the heading “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended July 31, 2024 filed with the Securities and Exchange Commission (“SEC”) on September 25, 2024 and in other filings we make with the SEC in the future. Additionally, forward-looking statements regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Other than in accordance with our legal or regulatory obligations, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Non-GAAP Reconciliations and Supplementary Information
(unaudited)
Non-GAAP items
This announcement contains certain financial information that is not presented in conformity with
The Company does not provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable
Summary of Organic Revenue
Management evaluates organic revenue as it provides a consistent measure of the change in revenue year-on-year. Organic revenue growth (or decline) is determined as the growth (or decline) in total reported revenue excluding the growth (or decline) attributable to currency exchange rate fluctuations, sales days, acquisitions and disposals, divided by the preceding financial year’s revenue at the current year’s exchange rates.
A summary of the Company’s historical revenue and organic revenue growth is below:
|
Q4 2025 |
Q3 2025 |
Q2 2025 |
Q1 2025 |
Q4 2024 |
|||||
|
Revenue |
Organic
|
Revenue |
Organic
|
Revenue |
Organic
|
Revenue |
Organic
|
Revenue |
Organic
|
|
|
|
|
|
|
|
|
(0.4)% |
|
(0.2)% |
|
|
|
(0.3)% |
|
|
|
|
|
|
(1.2)% |
Continuing operations |
|
|
|
|
|
|
|
(0.3)% |
|
(0.2)% |
For further details regarding organic revenue growth, visit corporate.ferguson.com on the Investors menu under Analysts and Resources.
Reconciliation of Net Income to Adjusted Operating Profit and Adjusted EBITDA |
|||||||||||
|
Three months ended |
|
Twelve months ended |
||||||||
|
July 31, |
|
July 31, |
||||||||
(In millions) |
2025 |
|
2024 |
|
2025 |
|
2024 |
||||
Net income |
|
|
|
|
|
|
|
|
|||
Provision for income taxes |
172 |
|
|
308 |
|
|
567 |
|
|
729 |
|
Interest expense, net |
50 |
|
|
47 |
|
|
190 |
|
|
179 |
|
Other expense, net |
3 |
|
|
5 |
|
|
(7 |
) |
|
9 |
|
Operating profit |
925 |
|
|
811 |
|
|
2,606 |
|
|
2,652 |
|
Corporate restructuring expenses(1) |
2 |
|
|
8 |
|
|
7 |
|
|
28 |
|
Business restructuring expenses(2) |
5 |
|
|
— |
|
|
73 |
|
|
— |
|
Amortization of acquired intangibles |
40 |
|
|
38 |
|
|
156 |
|
|
144 |
|
Adjusted Operating Profit |
972 |
|
|
857 |
|
|
2,842 |
|
|
2,824 |
|
Depreciation and impairment of PP&E |
50 |
|
|
42 |
|
|
187 |
|
|
162 |
|
Amortization and impairment of non-acquired intangibles |
7 |
|
|
7 |
|
|
30 |
|
|
29 |
|
Adjusted EBITDA |
|
|
|
|
|
|
|
|
|
|
|
(1) |
For the three and twelve months ended July 31, 2025, corporate restructuring expenses primarily related to incremental costs in connection with transition activities following the establishment of our ultimate parent company’s domicile in |
(2) |
For the three and twelve months ended July 31, 2025, business restructuring expenses related to the Company’s implementation of targeted actions to streamline operations, enhancing speed and efficiency to better serve customers and drive further profitable growth. |
Net Debt : Adjusted EBITDA Reconciliation
To assess the appropriateness of its capital structure, the Company’s principal measure of financial leverage is net debt to adjusted EBITDA. The Company aims to operate with investment grade credit metrics and keep this ratio within one to two times.
Net debt
Net debt comprises bank overdrafts, bank and other loans and derivative financial instruments, excluding lease liabilities, less cash and cash equivalents. Long-term debt is presented net of debt issuance costs.
|
As of July 31, |
||||
(In millions) |
2025 |
|
2024 |
||
Long-term debt |
|
|
|
||
Short-term debt |
400 |
|
150 |
||
Bank overdrafts(1) |
5 |
|
1 |
||
Derivative liabilities |
4 |
|
8 |
||
Cash and cash equivalents |
(674) |
|
(571) |
||
Net debt |
|
|
|
||
Adjusted EBITDA |
|
|
|
||
Net Debt: Adjusted EBITDA |
1.1x |
|
1.1x |
||
(1) |
Bank overdrafts are included in other current liabilities in the Company’s Consolidated Balance Sheet. |
Reconciliation of Net Income to Adjusted Net Income and Adjusted EPS - Diluted |
|||||||||||
|
Three months ended |
||||||||||
|
July 31, |
||||||||||
(In millions, except per share amounts) |
2025 |
|
2024 |
||||||||
|
|
|
per share(1) |
|
|
|
per share(1) |
||||
Net income |
|
|
|
|
|
|
|
|
|
|
|
Corporate restructuring expenses(2) |
2 |
|
|
0.01 |
|
|
8 |
|
|
0.04 |
|
Business restructuring expenses(3) |
5 |
|
|
0.03 |
|
|
— |
|
|
— |
|
Amortization of acquired intangibles |
40 |
|
|
0.20 |
|
|
38 |
|
|
0.19 |
|
Discrete tax adjustments(4) |
(49 |
) |
|
(0.25 |
) |
|
114 |
|
|
0.56 |
|
Tax impact on non-GAAP adjustments(5) |
(11 |
) |
|
(0.06 |
) |
|
(9 |
) |
|
(0.04 |
) |
Adjusted net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Diluted weighted average shares outstanding |
197.3 |
|
|
|
202.3 |
|
|||||
|
Twelve months ended |
||||||||||
|
July 31, |
||||||||||
(In millions, except per share amounts) |
2025 |
|
2024 |
||||||||
|
|
|
per share(1) |
|
|
|
per share(1) |
||||
Net income |
|
|
|
|
|
|
|
|
|
|
|
Corporate restructuring expenses(2) |
7 |
|
|
0.03 |
|
|
28 |
|
|
0.14 |
|
Business restructuring expenses(3) |
73 |
|
|
0.37 |
|
|
— |
|
|
— |
|
Amortization of acquired intangibles |
156 |
|
|
0.78 |
|
|
144 |
|
|
0.71 |
|
Discrete tax adjustments(4) |
(52 |
) |
|
(0.26 |
) |
|
101 |
|
|
0.49 |
|
Tax impact on non-GAAP adjustments(5) |
(59 |
) |
|
(0.30 |
) |
|
(36 |
) |
|
(0.18 |
) |
Adjusted net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Diluted weighted average shares outstanding |
|
199.2 |
|
|
203.5 |
|
|||||
(1) |
Per share on a dilutive basis. |
(2) |
For the three and twelve months ended July 31, 2025, corporate restructuring expenses primarily related to incremental costs in connection with transition activities following the establishment of our ultimate parent company’s domicile in |
(3) |
For the three and twelve months ended July 31, 2025, business restructuring expenses related to the Company’s implementation of targeted actions to streamline operations, enhancing speed and efficiency to better serve customers and drive further profitable growth. |
(4) |
For the three and twelve months ended July 31, 2025, discrete tax adjustments primarily related to the release of uncertain tax positions following the lapse of statute of limitations, as well as adjustments in connection with amended returns. For the three and twelve months ended July 31, 2024, discrete tax adjustments primarily related to non-recurring, non-cash deferred tax charges of |
(5) |
For the three and twelve months ended July 31, 2025, the tax impact on non-GAAP adjustments related to the restructuring expenses and the amortization of acquired intangibles. For the three and twelve months ended July 31, 2024, the tax impact of non-GAAP adjustments primarily related to the amortization of acquired intangibles. |
Ferguson Enterprises Inc. Condensed Consolidated Statements of Earnings (unaudited) |
|||||||||||
|
Three months ended |
|
Twelve months ended |
||||||||
|
July 31, |
|
July 31, |
||||||||
(In millions, except per share amounts) |
2025 |
|
2024 |
|
2025 |
|
2024 |
||||
Net sales |
|
|
|
|
|
|
|
|
|
|
|
Cost of sales |
(5,803 |
) |
|
(5,485 |
) |
|
(21,327 |
) |
|
(20,582 |
) |
Gross profit |
2,694 |
|
|
2,461 |
|
|
9,435 |
|
|
9,053 |
|
Selling, general and administrative expenses |
(1,665 |
) |
|
(1,563 |
) |
|
(6,376 |
) |
|
(6,038 |
) |
Restructuring and impairment expenses |
(7 |
) |
|
— |
|
|
(80 |
) |
|
(28 |
) |
Depreciation and amortization |
(97 |
) |
|
(87 |
) |
|
(373 |
) |
|
(335 |
) |
Operating profit |
925 |
|
|
811 |
|
|
2,606 |
|
|
2,652 |
|
Interest expense, net |
(50 |
) |
|
(47 |
) |
|
(190 |
) |
|
(179 |
) |
Other income (expense), net |
(3 |
) |
|
(5 |
) |
|
7 |
|
|
(9 |
) |
Income before income taxes |
872 |
|
|
759 |
|
|
2,423 |
|
|
2,464 |
|
Provision for income taxes |
(172 |
) |
|
(308 |
) |
|
(567 |
) |
|
(729 |
) |
Net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Earnings per share - Basic |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Earnings per share - Diluted |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Weighted average number of shares outstanding: |
|
|
|
|
|
|
|
||||
Basic |
197.0 |
|
|
201.7 |
|
|
198.9 |
|
|
202.9 |
|
Diluted |
197.3 |
|
|
202.3 |
|
|
199.2 |
|
|
203.5 |
|
Ferguson Enterprises Inc. Condensed Consolidated Balance Sheets (unaudited) |
|||||
|
As of July 31, |
||||
(In millions) |
2025 |
|
2024 |
||
Assets |
|
|
|
||
Cash and cash equivalents |
|
|
|
||
Accounts receivable, net |
3,964 |
|
|
3,602 |
|
Inventories |
4,492 |
|
|
4,188 |
|
Prepaid and other current assets |
945 |
|
|
1,020 |
|
Assets held for sale |
71 |
|
|
29 |
|
Total current assets |
10,146 |
|
|
9,410 |
|
Property, plant and equipment, net |
1,846 |
|
|
1,752 |
|
Operating lease right-of-use assets |
1,763 |
|
|
1,565 |
|
Deferred income taxes, net |
225 |
|
|
181 |
|
Goodwill |
2,464 |
|
|
2,357 |
|
Other non-current assets |
1,285 |
|
|
1,307 |
|
Total assets |
|
|
|
|
|
|
|
|
|
||
Liabilities and stockholders’ equity |
|
|
|
||
Accounts payable |
|
|
|
|
|
Other current liabilities |
2,451 |
|
|
1,806 |
|
Total current liabilities |
6,028 |
|
|
5,216 |
|
Long-term debt |
3,752 |
|
|
3,774 |
|
Long-term portion of operating lease liabilities |
1,367 |
|
|
1,198 |
|
Other long-term liabilities |
750 |
|
|
768 |
|
Total liabilities |
11,897 |
|
|
10,956 |
|
Total stockholders' equity |
5,832 |
|
|
5,616 |
|
Total liabilities and stockholders' equity |
|
|
|
|
|
Ferguson Enterprises Inc. Condensed Consolidated Statements of Cash Flows (unaudited) |
|||||
(In millions) |
Twelve months ended |
||||
July 31, |
|||||
2025 |
|
2024 |
|||
Cash flows from operating activities: |
|
|
|
||
Net income |
|
|
|
|
|
Depreciation and amortization |
373 |
|
|
335 |
|
Share-based compensation |
28 |
|
|
49 |
|
Changes in inventories |
(273 |
) |
|
(252 |
) |
Changes in receivables and other assets |
(321 |
) |
|
(98 |
) |
Changes in accounts payable and other liabilities |
278 |
|
|
11 |
|
Other operating activities |
(33 |
) |
|
93 |
|
Net cash provided by operating activities |
1,908 |
|
|
1,873 |
|
Cash flows from investing activities: |
|
|
|
||
Purchase of businesses acquired, net of cash acquired |
(301 |
) |
|
(260 |
) |
Capital expenditures |
(305 |
) |
|
(372 |
) |
Other investing activities |
63 |
|
|
31 |
|
Net cash used in investing activities |
(543 |
) |
|
(601 |
) |
Cash flows from financing activities: |
|
|
|
||
Purchase of treasury shares |
(948 |
) |
|
(634 |
) |
Proceeds from sale of treasury shares |
— |
|
|
17 |
|
Net change in debt and bank overdrafts |
225 |
|
|
129 |
|
Cash dividends |
(489 |
) |
|
(784 |
) |
Other financing activities |
(74 |
) |
|
(41 |
) |
Net cash used in financing activities |
(1,286 |
) |
|
(1,313 |
) |
Change in cash, cash equivalents and restricted cash |
79 |
|
|
(41 |
) |
Effects of exchange rate changes |
3 |
|
|
(3 |
) |
Cash, cash equivalents and restricted cash, beginning of period |
625 |
|
|
669 |
|
Cash, cash equivalents and restricted cash, end of period |
|
|
|
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20250916148843/en/
For further information please contact
Investor relations
Brian Lantz, Vice President IR and Communications
Mobile: +1 224 285 2410
Pete Kennedy, Director of Investor Relations
Mobile: +1 757 603 0111
Media inquiries
Christine Dwyer, Senior Director of Communications and PR
Mobile: +1 757 469 5813
Source: Ferguson Enterprises Inc.
