Reported Q: Q2 2024 Rev YoY: -2.2% EPS YoY: -12.7% Move: -0.83%
Ferguson plc
FERG.L
£16 800 -0.83%
Exchange LSE Sector Industrials Industry Industrial Distribution
Q2 2024
Published: Mar 6, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for FERG.L

Reported

Report Date

Mar 6, 2024

Quarter Q2 2024

Revenue

6.67B

YoY: -2.2%

EPS

1.58

YoY: -12.7%

Market Move

-0.83%

Previous quarter: N/A

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Earnings Highlights

  • Revenue of $6.67B down 2.2% year-over-year
  • EPS of $1.58 decreased by 12.7% from previous year
  • Gross margin of 30.4%
  • Net income of 322.00M
  • "N/A" - N/A
FERG.L
Company FERG.L

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Executive Summary

Ferguson plc delivered QQ2 2024 results with USD 6.673 billion in revenue and a gross profit of USD 2.029 billion, yielding a gross margin of 30.4%. Operating income stood at USD 477 million, with an EBIT margin of 7.15% and net income of USD 322 million (EPS USD 1.58). The quarter showed material YoY declines across revenue, gross profit, operating income, net income, and EPS (revenue YoY -2.23%; net income YoY -13.90%; EPS YoY -12.71%), accompanied by a QoQ softness that intensified in profitability metrics (QoQ net income -37.96%; EPS -38.04%). These movements reflect a softer trading environment in the US residential and commercial plumbing markets and ongoing competitive dynamics, even as Ferguson preserves its cash generation profile. Free cash flow remained solid at USD 205 million, supported by USD 306 million of cash from operating activities and disciplined capital expenditure of USD 101 million. Net debt stood at USD 4.121 billion with total debt of USD 4.760 billion, yielding a net debt to EBITDA commentary around elevated leverage (not unusual for a capital-intensive distribution platform with substantial installed base and working-capital intensity). The liquidity position remains robust with USD 704 million of cash at period end and a current ratio of 1.80. Management commentary is not present in the provided transcript data; as such, the forward-looking view reflects the disclosed numbers and typical industry dynamics. Investors should monitor demand normalization in US construction activity, price realization, working capital efficiency, and refinancing risk given leverage levels.

Key Performance Indicators

Revenue
Decreasing
6.67B
QoQ: -13.43% | YoY: -2.23%
Gross Profit
Decreasing
2.03B
30.41% margin
QoQ: -12.96% | YoY: -1.60%
Operating Income
Decreasing
477.00M
QoQ: -35.45% | YoY: -13.11%
Net Income
Decreasing
322.00M
QoQ: -37.96% | YoY: -13.90%
EPS
Decreasing
1.58
QoQ: -38.04% | YoY: -12.71%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2026 8,169.00 2.90 +11.8% View
Q2 2025 6,872.00 1.38 +3.0% View
Q1 2025 7,772.00 2.33 +0.8% View
Q4 2024 7,946.00 2.23 +1.4% View
Q3 2024 7,308.00 2.18 +2.4% View
Q2 2024 6,673.00 1.58 -2.2% View