1024 ET - Ferguson Enterprises' margins are under a microscope. Jefferies analysts say in a research note that it's encouraging to see the plumbing and heating materials distributor's volumes accelerating from levels seen over the last three quarters given the choppy demand backdrop. But while the company continues to expect low-single-digit growth in FY25, it's now forecasting adjusted operating margins between 8.3% and 8.8% compared to a prior outlook in the range of 9% and 9.5%. "Ferguson cutting its FY guide isn't a shock, with the Street already at the low end of its margin guide, but the magnitude is larger than feared," the analysts say. Ferguson slides 4.3%. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
March 11, 2025 10:24 ET (14:24 GMT)
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