Ferguson Plc. (FERG) saw its shares plummet by 6.03% during Tuesday's intraday trading session, as investors reacted to the company's mixed Q1 earnings report.
The company reported Q1 adjusted earnings per share (EPS) of $2.84, beating the IBES estimate of $2.63. However, sales came in at $8.169 billion, slightly below the estimated $8.179 billion. Additionally, Ferguson updated its 2025 net sales growth outlook to "about 5%," compared to its previous guidance of a "mid-single-digit gain."
The sales miss and tempered growth outlook appear to have overshadowed the EPS beat, leading to the sharp decline in the stock price. The premarket activity had already indicated weakness, with shares down 1.6% ahead of the opening bell.
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