Ferguson Reports Third Quarter Results
Market Outperformance, Moderating Deflation and Targeted Actions Drove Strong Results
Third quarter highlights
-
Sales of
$7.6 billion 4.3% despite one fewer sales day and foreign exchange (1.7% impact). -
Gross margin of
31.0% , up 50 bps from prior year. -
Operating margin of
8.0% (9.4% on an adjusted basis). -
Diluted earnings per share of
$2.07 $2.50 -
Declared quarterly dividend of
$0.83 5% increase over the prior year. - Completed three acquisitions during the quarter.
-
Share repurchases of
$251 million - Balance sheet remains strong with net debt to adjusted EBITDA of 1.2x.
-
Actions taken to streamline and reduce complexity within the business, resulted in non-recurring charges of
$68 million $100 million
“While we are in a dynamic and uncertain environment, given the strong performance in the quarter we are updating our full year guidance to low to mid-single digit revenue growth with an adjusted operating margin range of
FY2025 Guidance
|
Prior 2025 Guidance |
Updated 2025 Guidance |
Net sales |
Low single digit growth |
Low to mid-single digit growth |
Adjusted operating margin* |
|
|
Interest expense |
|
|
Adjusted effective tax rate* |
~ |
~ |
Capital expenditures |
|
|
* The Company does not reconcile forward-looking non-GAAP measures. See “Non-GAAP Reconciliations and Supplementary information”. |
|
Three months ended April 30, |
|
|
|||
US$ (In millions, except per share amounts) |
2025 |
2024 |
Change |
|||
|
Reported |
Adjusted(1) |
Reported |
Adjusted(1) |
Reported |
Adjusted |
Net sales |
7,621 |
7,621 |
7,308 |
7,308 |
+ |
+ |
Gross margin |
|
|
|
|
+50 bps |
+50 bps |
Operating profit |
606 |
715 |
625 |
674 |
(3.0)% |
+ |
Operating margin |
|
|
|
|
(60) bps |
+20 bps |
Earnings per share - diluted |
2.07 |
2.50 |
2.18 |
2.32 |
(5.0)% |
+ |
Adjusted EBITDA |
|
770 |
|
722 |
|
+ |
Net debt(1) : Adjusted EBITDA |
|
1.2x |
|
1.0x |
|
|
|
Nine months ended April 30, |
|
|
|||
US$ (In millions, except per share amounts) |
2025 |
2024 |
Change |
|||
|
Reported |
Adjusted(1) |
Reported |
Adjusted(1) |
Reported |
Adjusted |
Net sales |
22,265 |
22,265 |
21,689 |
21,689 |
+ |
+ |
Gross margin |
|
|
|
|
(10) bps |
(10) bps |
Operating profit |
1,681 |
1,870 |
1,841 |
1,967 |
(8.7)% |
(4.9)% |
Operating margin |
|
|
|
|
(100) bps |
(70) bps |
Earnings per share - diluted |
5.78 |
6.48 |
6.30 |
6.72 |
(8.3)% |
(3.6)% |
Adjusted EBITDA |
|
2,030 |
|
2,109 |
|
(3.7)% |
Net debt(1) : Adjusted EBITDA |
|
1.2x |
|
1.0x |
|
|
(1) The Company uses certain non-GAAP measures, which are not defined or specified under |
Summary of financial results
Third quarter
Net sales of
Gross margin of
Reported operating profit was
Reported diluted earnings per share was
US - third quarter
Net sales in the US business increased by
Residential end markets, which comprise just over half of US revenue, remained subdued across both new construction and repair, maintenance and improvement. Overall, our residential revenue grew approximately
Non-residential end markets, representing just under half of US revenue, were stronger than residential end markets with increased activity on large capital projects. We continued to grow share with non-residential revenue growth of approximately
Adjusted operating profit of
We completed two US acquisitions during the quarter, Independent Pipe & Supply Corp., a leading commercial/mechanical distributor in the Northeast and Light Innovations Inc., a residential building and remodel showroom located in
Net sales decreased by
During the quarter we completed the acquisition of National Fire (collectively, National Fire Equipment Ltd. and National Fire Fabrication Ltd.), a market leader of fire and fabrication products and services operating from seven locations across eastern and western
Business Restructuring
We have implemented targeted actions to streamline operations, enhancing speed and efficiency to better serve customers and drive further profitable growth. As a result of these actions, non-recurring charges of
Segment overview
|
Three months ended April 30, |
|
|
Nine months ended April 30, |
|
||||||||
US$ (In millions) |
2025 |
2024 |
Change |
|
2025 |
2024 |
Change |
||||||
Net sales: |
|
|
|
|
|
|
|
||||||
US |
7,288 |
|
6,974 |
|
4.5 |
% |
|
21,210 |
|
20,667 |
|
2.6 |
% |
|
333 |
|
334 |
|
(0.3 |
)% |
|
1,055 |
|
1,022 |
|
3.2 |
% |
Total net sales |
7,621 |
|
7,308 |
|
4.3 |
% |
|
22,265 |
|
21,689 |
|
2.7 |
% |
|
|
|
|
|
|
|
|
||||||
Adjusted operating profit: |
|
|
|
|
|
|
|
||||||
US |
726 |
|
685 |
|
6.0 |
% |
|
1,878 |
|
1,976 |
|
(5.0 |
)% |
|
8 |
|
6 |
|
33.3 |
% |
|
42 |
|
38 |
|
10.5 |
% |
Central and other costs |
(19 |
) |
(17 |
) |
|
|
(50 |
) |
(47 |
) |
|
||
Total adjusted operating profit |
715 |
|
674 |
|
6.1 |
% |
|
1,870 |
|
1,967 |
|
(4.9 |
)% |
Financial position
Net debt to adjusted EBITDA at April 30, 2025 was 1.2x. During the quarter we completed share repurchases of
We declared a quarterly dividend of
There have been no other significant changes to the financial position of the Company.
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 254870. 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 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.
Provisional financial calendar
Q4 Results for period ending July 31, 2025 |
September 16, 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 other factors beyond our control, including disruption in the financial markets and any macroeconomic or other consequences of political unrest, disputes or war, and/or trade restrictions such as sanctions, tariffs and retaliatory counter measures; 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; changes in competition, including as a result of market consolidation or competitors responding more quickly to emerging technologies (such as generative artificial intelligence); failure of a key information technology system or process as well as exposure to fraud or theft resulting from payment-related risks; privacy and protection of sensitive data failures, including failures due to data corruption, cybersecurity incidents or network security breaches; 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; 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; risks associated with acquisitions, partnerships, joint ventures and other business combinations, dispositions or strategic transactions; regulatory, product liability and reputational risks and 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; our indebtedness and changes in our credit ratings and outlook; fluctuations in product prices (including as a result of the use of commodity-priced materials, inflation/deflation and/or trade restrictions) and foreign currency; funding risks related to our defined benefit pension plans; legal proceedings in the ordinary course of our business as well as failure to comply with domestic and foreign laws, regulations and standards, as those laws, regulations and standards or interpretations and enforcement thereof may change, or 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, including regulatory or legal requirements and disparate stakeholder expectations; adverse impacts caused by a public health crisis; 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.
Ferguson Enterprises Inc.
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:
|
Q3 2025 |
Q2 2025 |
Q1 2025 |
Q4 2024 |
Q3 2024 |
|||||
|
Revenue |
Organic
|
Revenue |
Organic
|
Revenue |
Organic
|
Revenue |
Organic
|
Revenue |
Organic
|
US |
|
|
|
|
|
(0.4)% |
|
(0.2)% |
|
(0.9)% |
|
(0.3)% |
|
|
|
|
|
|
(1.2)% |
|
(0.6)% |
Total Company |
|
|
|
|
|
(0.3)% |
|
(0.2)% |
|
(0.9)% |
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 |
|
Nine months ended |
||||||||
|
April 30, |
|
April 30, |
||||||||
(In millions) |
2025 |
|
2024 |
|
2025 |
|
2024 |
||||
Net income |
|
|
|
|
|
|
|
|
|||
Provision for income taxes |
147 |
|
|
138 |
|
|
395 |
|
|
421 |
|
Interest expense, net |
46 |
|
|
43 |
|
|
140 |
|
|
132 |
|
Other (income) expense, net |
3 |
|
|
1 |
|
|
(10 |
) |
|
4 |
|
Operating profit |
606 |
|
|
625 |
|
|
1,681 |
|
|
1,841 |
|
Corporate restructuring expenses(1) |
2 |
|
|
12 |
|
|
5 |
|
|
20 |
|
Business restructuring expenses(2) |
68 |
|
|
— |
|
|
68 |
|
|
— |
|
Amortization of acquired intangibles |
39 |
|
|
37 |
|
|
116 |
|
|
106 |
|
Adjusted Operating Profit |
715 |
|
|
674 |
|
|
1,870 |
|
|
1,967 |
|
Depreciation & impairment of PP&E |
47 |
|
|
40 |
|
|
137 |
|
|
120 |
|
Amortization of non-acquired intangibles |
8 |
|
|
8 |
|
|
23 |
|
|
22 |
|
Adjusted EBITDA |
|
|
|
|
|
|
|
|
|
|
|
(1) |
For the three and nine months ended April 30, 2025, corporate restructuring expenses primarily related to incremental costs in connection with transition activities following the establishment of our parent company’s domicile in |
(2) |
For the three and nine months ended April 30, 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 April 30, |
||||
(In millions) |
2025 |
|
2024 |
||
Long-term debt |
|
|
|
|
|
Short-term debt |
400 |
|
|
150 |
|
Bank overdrafts(1) |
5 |
|
|
36 |
|
Derivative liabilities |
3 |
|
|
13 |
|
Cash and cash equivalents |
(519 |
) |
|
(691 |
) |
Net debt |
|
|
|
|
|
(1) |
Bank overdrafts are included in other current liabilities in the Company’s Consolidated Balance Sheets. |
Adjusted EBITDA (Rolling 12-month)
Adjusted EBITDA is net income before charges/credits relating to depreciation, amortization, impairment and certain non-GAAP adjustments. A rolling 12-month adjusted EBITDA is used in the net debt to adjusted EBITDA ratio to assess the appropriateness of the Company’s financial leverage.
|
Twelve months ended |
||||
(In millions, except ratios) |
April 30, |
||||
|
2025 |
|
2024 |
||
Net income |
|
|
|
|
|
Provision for income taxes |
703 |
|
|
567 |
|
Interest expense, net |
187 |
|
|
180 |
|
Other (income) expense, net |
(5 |
) |
|
8 |
|
Corporate restructurings expenses(1) |
13 |
|
|
20 |
|
Business restructurings expenses(2) |
68 |
|
|
— |
|
Impairments and other charges(3) |
— |
|
|
(2 |
) |
Depreciation and amortization |
363 |
|
|
326 |
|
Adjusted EBITDA |
|
|
|
|
|
Net Debt: Adjusted EBITDA |
1.2x |
|
1.0x |
||
(1) |
For the rolling twelve months ended April 30, 2025 and 2024, corporate restructuring expenses primarily related to incremental costs in connection with establishing a new corporate structure to domicile our ultimate parent company in |
(2) |
For the rolling twelve months ended April 30, 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. |
(3) |
For the rolling twelve months ended April 30, 2024, the benefit recorded in impairments and other charges related to a change in estimate regarding amounts recorded in impairment and other charges in the third quarter of fiscal 2023. |
Reconciliation of Net Income to Adjusted Net Income and Adjusted EPS - Diluted |
|||||||||||
|
Three months ended |
||||||||||
|
April 30, |
||||||||||
(In millions, except per share amounts) |
2025 |
|
2024 |
||||||||
|
|
|
per share(1) |
|
|
|
per share(1) |
||||
Net income |
|
|
|
|
|
|
|
|
|
|
|
Corporate restructuring expenses(2) |
2 |
|
|
0.01 |
|
|
12 |
|
|
0.06 |
|
Business restructuring expenses(3) |
68 |
|
|
0.34 |
|
|
— |
|
|
— |
|
Amortization of acquired intangibles |
39 |
|
|
0.20 |
|
|
37 |
|
|
0.18 |
|
Discrete tax adjustments(4) |
5 |
|
|
0.02 |
|
|
(11 |
) |
|
(0.06 |
) |
Tax impact-non-GAAP adjustments(5) |
(28 |
) |
|
(0.14 |
) |
|
(9 |
) |
|
(0.04 |
) |
Adjusted net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Diluted weighted-average shares outstanding |
|
198.5 |
|
|
|
203.2 |
|
||||
|
|
|
|
|
|
|
|
||||
|
Nine months ended |
||||||||||
|
April 30, |
||||||||||
(In millions, except per share amounts) |
2025 |
|
2024 |
||||||||
|
|
|
per share(1) |
|
|
|
per share(1) |
||||
Net income |
|
|
|
|
|
|
|
|
|
|
|
Corporate restructuring expenses(2) |
5 |
|
|
0.04 |
|
|
20 |
|
|
0.10 |
|
Business restructuring expenses(3) |
68 |
|
|
0.34 |
|
|
— |
|
|
— |
|
Amortization of acquired intangibles |
116 |
|
|
0.58 |
|
|
106 |
|
|
0.52 |
|
Discrete tax adjustments(4) |
(3 |
) |
|
(0.02 |
) |
|
(13 |
) |
|
(0.07 |
) |
Tax impact-non-GAAP adjustments(5) |
(48 |
) |
|
(0.24 |
) |
|
(27 |
) |
|
(0.13 |
) |
Adjusted net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Diluted weighted-average shares outstanding |
|
199.8 |
|
|
|
203.9 |
|
||||
(1) |
Per share on a dilutive basis. |
(2) |
For the three and nine months ended April 30, 2025, corporate restructuring expenses primarily related to incremental costs in connection with transition activities following the establishment of our parent company’s domicile in |
(3) |
For the three and nine months ended April 30, 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 nine months ended April 30, 2025, discrete tax adjustments mainly related to the tax treatment of certain compensation items that are not material. For the three and nine months ended April 30, 2024, discrete tax adjustments related to the release of uncertain tax positions due to the lapsing of statute of limitations, as well as the tax treatment of certain compensation items that were not individually significant. |
(5) |
For the three and nine months ended April 30, 2025, the tax impact on non-GAAP adjustments related to the restructuring expenses and the amortization of acquired intangibles. For the three and nine months ended April 30, 2024, the tax impact on non-GAAP adjustments related to the amortization of acquired intangibles. |
Ferguson Enterprises Inc. Condensed Consolidated Statements of Earnings (unaudited) |
|||||||||||
|
Three months ended |
|
Nine months ended |
||||||||
|
April 30, |
|
April 30, |
||||||||
(In millions, except per share amounts) |
2025 |
|
2024 |
|
2025 |
|
2024 |
||||
Net sales |
|
|
|
|
|
|
|
|
|
|
|
Cost of sales |
(5,262 |
) |
|
(5,076 |
) |
|
(15,524 |
) |
|
(15,097 |
) |
Gross profit |
2,359 |
|
|
2,232 |
|
|
6,741 |
|
|
6,592 |
|
Selling, general and administrative expenses |
(1,589 |
) |
|
(1,510 |
) |
|
(4,711 |
) |
|
(4,483 |
) |
Restructuring expenses |
(70 |
) |
|
(12 |
) |
|
(73 |
) |
|
(20 |
) |
Depreciation and amortization |
(94 |
) |
|
(85 |
) |
|
(276 |
) |
|
(248 |
) |
Operating profit |
606 |
|
|
625 |
|
|
1,681 |
|
|
1,841 |
|
Interest expense, net |
(46 |
) |
|
(43 |
) |
|
(140 |
) |
|
(132 |
) |
Other (expense) income, net |
(3 |
) |
|
(1 |
) |
|
10 |
|
|
(4 |
) |
Income before income taxes |
557 |
|
|
581 |
|
|
1,551 |
|
|
1,705 |
|
Provision for income taxes |
(147 |
) |
|
(138 |
) |
|
(395 |
) |
|
(421 |
) |
Net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Earnings per share - Basic |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Earnings per share - Diluted |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Weighted average number of shares outstanding: |
|
|
|
|
|
|
|
||||
Basic |
198.3 |
|
|
202.6 |
|
|
199.6 |
|
|
203.3 |
|
Diluted |
198.5 |
|
|
203.2 |
|
|
199.8 |
|
|
203.9 |
|
Ferguson Enterprises Inc. Condensed Consolidated Balance Sheets (unaudited) |
|||||
|
As of |
||||
(In millions) |
April 30, 2025 |
|
July 31, 2024 |
||
Assets |
|
|
|
||
Cash and cash equivalents |
|
|
|
||
Accounts receivable, net |
3,748 |
|
|
3,602 |
|
Inventories |
4,548 |
|
|
4,188 |
|
Prepaid and other current assets |
917 |
|
|
1,020 |
|
Assets held for sale |
44 |
|
|
29 |
|
Total current assets |
9,776 |
|
|
9,410 |
|
Property, plant and equipment, net |
1,832 |
|
|
1,752 |
|
Operating lease right-of-use assets |
1,678 |
|
|
1,565 |
|
Deferred income taxes, net |
197 |
|
|
181 |
|
Goodwill |
2,427 |
|
|
2,357 |
|
Other non-current assets |
1,355 |
|
|
1,307 |
|
Total assets |
|
|
|
|
|
|
|
|
|
||
Liabilities and stockholders’ equity |
|
|
|
||
Accounts payable |
|
|
|
|
|
Other current liabilities |
2,196 |
|
|
1,806 |
|
Total current liabilities |
5,971 |
|
|
5,216 |
|
Long-term debt |
3,701 |
|
|
3,774 |
|
Long-term portion of operating lease liabilities |
1,300 |
|
|
1,198 |
|
Other long-term liabilities |
762 |
|
|
768 |
|
Total liabilities |
11,734 |
|
|
10,956 |
|
Total stockholders' equity |
5,531 |
|
|
5,616 |
|
Total liabilities and stockholders' equity |
|
|
|
|
|
Ferguson Enterprises Inc. Condensed Consolidated Statements of Cash Flows (unaudited) |
|||||
(In millions) |
Nine months ended |
||||
April 30, |
|||||
2025 |
|
2024 |
|||
Cash flows from operating activities: |
|
|
|
||
Net income |
|
|
|
|
|
Depreciation and amortization |
276 |
|
|
248 |
|
Share-based compensation |
22 |
|
|
39 |
|
Changes in inventories |
(324 |
) |
|
(194 |
) |
Changes in receivables and other assets |
(24 |
) |
|
107 |
|
Changes in accounts payable and other liabilities |
244 |
|
|
107 |
|
Other operating activities |
17 |
|
|
(84 |
) |
Net cash provided by operating activities |
1,367 |
|
|
1,507 |
|
Cash flows from investing activities: |
|
|
|
||
Purchase of businesses acquired, net of cash acquired |
(242 |
) |
|
(185 |
) |
Capital expenditures |
(235 |
) |
|
(263 |
) |
Other investing activities |
13 |
|
|
30 |
|
Net cash used in investing activities |
(464 |
) |
|
(418 |
) |
Cash flows from financing activities: |
|
|
|
||
Purchase of treasury shares |
(759 |
) |
|
(421 |
) |
Net change in debt and bank overdrafts |
174 |
|
|
(86 |
) |
Cash dividends |
(324 |
) |
|
(465 |
) |
Other financing activities |
(66 |
) |
|
(23 |
) |
Net cash used in financing activities |
(975 |
) |
|
(995 |
) |
Change in cash, cash equivalents and restricted cash |
(72 |
) |
|
94 |
|
Effects of exchange rate changes |
3 |
|
|
(8 |
) |
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/20250603943474/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.
