Ferguson : US market set to be stable in 2021
>Operating profit beats expectations - Operating profit post-IFRS 16 for Q1 2020-21 (quarter to end-October 2020) came in at $ 483m (vs $ 504m expected by the consensus). The group reported l-f-l growth of +3.3% in stable end markets, after -2.6% in Q4 and -1.7% reported in Q3 (stable price effects in Q1). In the US, growth came to +3.3% after -2.4% in Q4 and -1.0% in Q3. Canada also moved back into positive territory at +3.5% in Q1 after -5.6% in Q4 and -14.9% in Q3 ...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.
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.
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