It was the year of treading water for Ferguson Enterprises Inc., and that includes digital sales.

Ferguson sells plumbing supplies, HVAC products and building supplies to professional contractors and homeowners.

For the 2024 fiscal year and fourth quarter ended July 21, Ferguson reported flat sales and a decline in residential digital sales.

“Our team delivered resilient results in line with our expectations, while faced with challenging markets and deflation,” says CEO Kevin Murphy.

Ferguson digital sales in Q4 and fiscal year 2024

For the full year, Ferguson posted sales of $29.6 billion. That’s a 0.3% increase from sales of $29.7 billion in fiscal 2023. Net income was $1.73 billion compared with $1.88 billion in the prior year.

“We believe our residential end markets declined by approximately 7% due to a combination of weak new construction and softer repair, maintenance and improvement markets,” Murphy says.

For the fourth quarter, total sales totaled $7.9 billion. That’s a 1.4% increase from sales of $7.83 billion in the fourth quarter of fiscal 2023. Net income was $451 million compared with $584 million in the prior year.

In fiscal Q4 2024, Ferguson digital sales represented 7% of all U.S. residential sales of $7.94 billion. Additionally, Ferguson digital sales declined 12% year over year, the company says.

“Residential digital commerce declined by 12%, consistent with the third quarter as consumer demand continues to be weak,” he says.

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