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Ferguson Enterprises Inc. (FERG) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing an increase in net sales to $6.872 billion from $6.673 billion in the same quarter the previous year. The increase is attributed to higher sales volume and incremental revenue from acquisitions, partially offset by price deflation.
Cost of sales for the quarter was $4.830 billion, resulting in a gross profit of $2.042 billion, compared to $2.029 billion in the same quarter of the previous year. Gross profit as a percentage of sales decreased to 29.7% from 30.4% due to subdued end market demand and price deflation.
Selling, general, and administrative expenses increased to $1.540 billion from $1.469 billion, reflecting the impact of cost inflation.
Net income for the quarter was $276 million, down from $322 million in the previous year. Diluted earnings per share were $1.38, compared to $1.58 in the previous year.
Cash provided by operating activities was $685 million, while cash used in investing and financing activities was $192 million and $289 million, respectively.
Ferguson had a working capital of $9.225 billion as of January 31, 2025. The company reported total assets of $16.530 billion and total liabilities of $11.041 billion.
The filing also details various financial agreements, including the issuance of $750 million in senior notes due October 2034 and the repayment of $500 million in term loans.
Ferguson does not anticipate any material adverse effect on its results of operations, financial position, or cash flows from its pending legal proceedings.
The company continues to focus on its operations in the United States and Canada, with net sales in the U.S. segment increasing by 3.0% and in the Canada segment by 3.2% compared to the previous year.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Ferguson Enterprises Inc. quarterly 10-Q report dated March 11, 2025. To report an error, please email earnings@qz.com.