Ferguson, the US plumbing, heating and ventilation giant, which has turned its back on the UK, first by selling its Wolseley business and then by switching its primary stock market listing to New York, will produce full-year results tomorrow that will give an insight into the American construction and buildings maintenance market.
The company is expected to report sales of $29.4 billion for its financial year to the end of July, up from $28.5 billion in the same 2021-22 period. Pre-tax profits are expected to fall to $2.6 billion from $2.8 billion last time.
The narrative will be watched closely for a commentary on pricing and any softening in markets.
Philip Ng, analyst at Jefferies, the broker, says Ferguson’s guidance implies volume declines over the
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