Ferguson Enterprises Inc. (NYSE:FERG) Q1 2025 Earnings Conference Call December 10, 2024 8:30 AM ET

Company Participants

Kevin Murphy - President, Chief Executive Officer
Bill Brundage - Chief Financial Officer
Brian Lantz - Vice President, Investor Relations

Conference Call Participants

Keith Hughes - Truist
Phil Ng - Jefferies
Matthew Bouley - Barclays
Stephen Mia - RBC Capital Markets
Matt Johnson - UBS
David Manthey - Baird
Brian Biros - Thompson Research Group

Operator

Good morning all and thank you for joining us for Ferguson’s first quarter conference call. My name is Colin and I’ll be coordinating your call today.

If you’d like to register for a question during the call, you can do so by pressing star followed by one on your telephone keypad, and to remove yourself from the line of questioning will be star followed by two.

I’d now like to hand over to your host, Brian Lantz, Ferguson’s VP of Investor Relations and Communications. You may now begin the conference.

Brian Lantz

Good morning everyone and welcome to Ferguson’s first 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 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 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 the 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 first quarter results conference call. On today’s call, I’ll cover highlights from our first quarter 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. I’ll then come back at the end [audio interference] nearly 1% ahead of last year despite market headwinds and deflation of approximately 2%.