Ferguson Q2 Adj EPS $1.74 Misses $1.84 Estimate, Sales $6.67B Miss $6.76B Estimate
Portfolio Pulse from Benzinga Newsdesk
Ferguson (NYSE:FERG) reported Q2 adjusted EPS of $1.74, missing the $1.84 estimate, and sales of $6.67B, missing the $6.76B estimate. This represents a decrease in both earnings and sales compared to the same period last year.
March 05, 2024 | 11:48 am
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NEGATIVE IMPACT
Ferguson reported a miss in both adjusted EPS and sales for Q2, with a year-over-year decline in performance.
Missing both earnings and sales estimates, especially with a year-over-year decline, typically leads to negative investor sentiment in the short term. This could result in downward pressure on Ferguson's stock price as the market reacts to the company's underperformance compared to expectations.
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