Ferguson plc (FERG) Q3 2023 Earnings Call Transcript

For the period ending April 30, 2023

June 6, 2023 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning, ladies and gentlemen. My name is Elliot, and I'll be your conference operator today. At this time, I would like to welcome you to Ferguson's Third Quarter Conference Call. All lines have been placed on mute to prevent any interference with the presentation. At the end of the prepared remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

I would now like to turn the call over to Mr. Brian Lantz, Ferguson's Vice President of Investor Relations and Communications. You may begin your conference call.

Brian Lantz

Good morning, everyone, and welcome to Ferguson's third quarter earnings conference call and webcast. Hopefully, you've had a chance to review the earnings announcement we issued this morning. The announcement is available in the Investors section of our corporate website and on our SEC filings webpage. A recording of this call will be made available later today.

I want to remind everyone that some of our statements today may be forward-looking and are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected, including the various risks and uncertainties discussed in the section entitled Risk Factors in our Form 10-K available on the SEC's website. Also, any forward-looking statements represent the company's expectations only as of today and we specifically disclaim any obligation to update these statements.

In addition, on today's call we will also discuss certain non-GAAP financial measures. Please refer to our earnings presentation and announcement on our website for additional information regarding those non-GAAP measures, including reconciliations to their most directly comparable GAAP financial measures.

With me on the call today are Kevin Murphy, our CEO; and Bill Brundage, our CFO.

I will now turn the call over to Kevin.

Kevin Murphy

Thank you, Brian, and welcome everyone to Ferguson's third quarter results conference call. On today's call, I'll cover highlights from our Q3 performance. I'll also provide a more detailed view of our performance by end market and by customer group before turning the call over to Bill for the financials and our updated outlook for fiscal year 2023. I'll then come back at the end to give a brief update on some of the fundamental drivers of our residential and non-residential end markets before Bill and I take your questions.