US31488V1070 - Common Stock
/PRNewswire/ -- Today, the BayPort Foundation, Ferguson, Newport News Shipbuilding, a division of HII, and Virginia Natural Gas announced that the Newport News...
Ferguson Enterprises Inc. (NYSE:FERG) shares are trading lower after the company reported first-quarter results. The company reported net sales of $7.77 billion, which was 0.8% higher year over year, missing the consensus of $7.83 billion. Organic revenue fell by 0.3%, with a 1.1% negative impact from acquisition growth. Net sales in the U.S. business increased by 0.5%, while that in Canada grew by 6.3%. Gross margin contracted by 10 basis points to 30.1% in the first quarter. Adjusted operating