Ferguson Rises After Q4 Earnings Surpass Estimates

Shares of Ferguson plc (FERG), a distributor of plumbing and heating products, are rising more than 3% Tuesday morning after reporting better-than-expected fourth-quarter results.

Net income in the fourth quarter slightly increased to $584 million or $2.85 per share from $580 million or $2.72 per share in the same quarter a year ago.

Excluding one-time items, earnings were $568 million or $2.77 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $2.46 per share.

Net sales were $7.838 billion, 1.7% below last year. The consensus estimate was for $7.6 billion.

FERG is at $156.20 currently. It has traded in the range of $99.16 – $164.00 in the last 1 year.

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