Ferguson Enterprises Inc. reported net sales of $7.77 billion for the first quarter of fiscal year 2025, an increase of 0.8% compared to the prior year. Organic revenue declined by 0.3%, which was offset by a 1.1% contribution from acquisitions. The company experienced modest overall price deflation of approximately 2% during the quarter.
Adjusted operating profit for the quarter was $706 million, an 8.7% decrease from the previous year, resulting in an adjusted operating margin of 9.1%. Adjusted diluted earnings per share decreased by 7.5% to $2.45. Gross margin was 30.1%, a 10 basis point decrease from the prior year.
The company declared a quarterly dividend of $0.83 per share, representing a 5% growth over the prior year's dividend. This dividend will be paid on February 6, 2025, to stockholders of record as of December 20, 2024. Ferguson maintained its full-year fiscal 2025 guidance for low single-digit net sales growth and an adjusted operating margin between 9.0% and 9.5%.
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