Ferguson Q2 Profit Misses Estimates

(RTTNews) - Ferguson (FERG) reported that its second quarter net income declined to $322 million from $374 million, prior year. Reported earnings per share was $1.58 compared to $1.80. Adjusted earnings per share was $1.74, down 8.9% from a year ago. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $1.84, for the quarter. Analysts' estimates typically exclude special items.

Second quarter net sales were $6.7 billion, 2.2% below last year. Organic revenue declined 3.7%. Analysts on average had estimated $6.76 billion in revenue.

Shares of Ferguson are down 4% in pre-market trade on Tuesday.

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