Report
Sven Edelfelt

Ferguson : Set for a calmer US housing market in 2022

>Operating profit 4% > consensus and further cash returns to shareholders - Operating profit for FY 2020-21 (to end-July 2021) totalled $ 2,176m (vs $ 2,089m forecast by the consensus). The group reported l-f-l growth of 13% over the full year incl. +23.6% in Q4 after +20.9% in Q3 and 3.6% in Q2 (price effect of 3% over the full year). In the US, growth reached +23.8% after 20.1% in Q3 and 3.4% in Q2. Trends were broadly similar in Canada with +20.1% in Q4, +35.2% in ...
Underlying
Ferguson Plc

Ferguson is a holding company. Through its subsidiaries, Co. is a distributor of plumbing and heating products in the U.S. Co. operates nationally serving the residential, commercial, civil and industrial markets. Co. operates seven business units in the U.S.: Blended Branches, which provides plumbing and heating solutions ; Waterworks standalone, which distributes pipe, valves and fittings, hydrants, meters and related water management products; B2C e-commerce, which sells directly to consumers via websites using the product range and distribution network of the Blended Branches business; as well as Other, which comprises industrial standalone, fire and fabrication, and facilities supply.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Sven Edelfelt

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