07:29 AM EST, 03/05/2024 (MT Newswires) -- Ferguson (FERG) reported fiscal Q2 adjusted earnings of $1.74 per diluted share, down from $1.91 a year earlier.

Analysts polled by Capital IQ had expected $1.84.

Net sales for the fiscal quarter that ended Jan. 31 were $6.67 billion, down from $6.83 billion a year earlier.

Analysts surveyed by Capital IQ expected $6.76 billion.

For full-year fiscal 2024, the plumbing and heating supplies distributor reaffirmed its earlier expectation for broadly flat net sales. Analysts surveyed by Capital IQ expect 2024 revenue of $29.91 billion.

Ferguson shares were down nearly 4% in recent Tuesday premarket activity.

Price: 207.53, Change: -8.02, Percent Change: -3.72