Ferguson Enterprises Inc. · NYSE:FERG
Ferguson Enterprises — Q1 FY2022 Earnings Presentation
13 slides from Ferguson Enterprises's earnings presentation, Dec 7, 2021
Slide 1: First quarter results update
2021/22 First quarter results update Three months to October 31, 2021
Slide 2: Cautionary note on Forward-Looking statements
2021/22 first quarter results Cautionary note on Forward-Looking statements Forward-Looking Statements Certain information included in this presentation and discussed on the conference call that this presentation accompanies is forward-looking, including within the meaning of the United States Priva
Slide 3: Introduction
Introduction Kevin Murphy, Group Chief Executive Ferguson plc | 2021/22 Q1 | December 7, 2021 3
Slide 4: Highlights: Core strengths drive strong performance
2021/22 first quarter results Highlights • Supportive end markets and continuation of strong share gains driven by: • Best in class associates • Global supply chain powering local relationships • Innovative digital solutions improving productivity • Inflation trends stepped up to low teens in the qu
Slide 5: Operating and financial review
Operating and financial review Bill Brundage, Group CFO Ferguson plc | 2021/22 Q1 | December 7, 2021 5
Slide 6: Quarterly financial results (Q1 2022)
2021/22 first quarter results Quarterly financial results (Q1 2022) Net sales ($m) Adjusted operating profit* ($m) Adjusted EPS – diluted* 6,803 $2.50 767 5,372 484 $1.52 2021/22 2020/21 2021/22 2020/21 2021/22 2020/21 +26.6% +58.5% +64.5% Strong sales and profit growth * This is a non-GAAP measure.
Slide 7: USA: Profit growth significantly outpaced revenue growth
Section first 2021/22 heading quarter results USA $m Q1 2022 Q1 2021 Change Revenue 6,418 5,050 +27.1% Organic revenue growth +25.2% +3.3% Adjusted operating profit* 752 472 +59.3% Adjusted operating margin % 11.7% 9.3% +2.4% • Substantial growth from share gains and supportive end markets • Excelle
Slide 8: USA: Consistent delivery across all customer groups
Section first 2021/22 heading quarter results USA Q1 2022 % of US Total Customer group revenue1 growth Residential Trade 20% +26% Residential Building and Remodel 14% +20% Residential Digital Commerce 10% +21% HVAC 11% +23% Waterworks 18% +50% Commercial / Mechanical 14% +21% Other Non-residential2
Slide 9: Canada: Continued progress in Canada
Section first 2021/22 heading quarter results Canada $m Q1 2022 Q1 2021 Change Revenue 385 322 +19.6% Organic revenue growth +13.9% +3.5% Adjusted operating profit* 34 23 +47.8% Adjusted operating margin % 8.8% 7.1% +1.7% • Robust revenue growth in supportive residential and non-residential markets
Slide 10: Balance sheet: Consistent capital allocation priorities
2021/22 first quarter results Balance sheet • Net debt to adjusted EBITDA 0.6x* • Target range of net debt to adjusted EBITDA of 1-2x • Capital allocation priorities unchanged: 1. Investing in above market organic growth • Global supply chain • Product breadth and depth • Digital solutions to drive
Slide 11: Closing and outlook
Closing and outlook Kevin Murphy, Group Chief Executive Ferguson plc | 2021/22 Q1 | December 7, 2021 11
Slide 12: Closing and Outlook
2021/22 first quarter results Closing and Outlook • Since the start of Q2, Ferguson has continued to generate revenue growth similar to that of Q1 2022 • Continue to expect a tapering of growth in the second half on tougher prior year comparatives • Mindful that recent tailwinds from inflation on gr
Slide 13: Q&A
FERGUSON Q&A