Ferguson Enterprises Inc. (NYSE:FERG) shares surged after it reported fourth-quarter 2024 sales of $8.5 billion, a 6.9% increase from last year, beating analyst estimates of $8.41 billion.
Adjusted earnings per share were $3.48, ahead of expectations of $2.88 and up 16.8% from the prior year. GAAP diluted EPS was $3.55, up 59.2% from $2.23.
Gross margin expanded 70 basis points to 31.7%. Reported operating profit rose 14.1% to $925 million, while adjusted operating profit increased 13.4% to $972 million. Adjusted EBITDA reached $1.03 billion.
By segment, U.S. sales grew 7.1% in the quarter to $8.1 billion, with non-residential revenue up about 15% while residential revenue remained flat. Adjusted operating profit in the U.S. rose 14% to $962 million.
Canada posted 4.8% sales …