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HomeTechnologyFerguson Plumbing opens the spigot on Q2 online sales

Ferguson Plumbing opens the spigot on Q2 online sales

It was a steady stream of digital sales in the second quarter of fiscal 2022 for Ferguson Plc., the British plumbing and heating products distributor that does nearly all of its business in the U.S.

For the second fiscal quarter ended Jan. 31, Ferguson, based in Wokingham, England, posted total sales of $6.508 billion, up 31.8% from sales of $4.937 billion in the second quarter of fiscal 2021.

The company’s U.S. sales grew slightly faster from $6.172 billion in the second fiscal quarter from $4.654 billion in fiscal Q2 of 2021, an increase of 32.6%

“We continue to leverage our scale, global supply chain and strong balance sheet to support our customer’s projects through a period of significant supply chain disruption, driving 32% revenue growth in the quarter,” Ferguson CEO Kevin Murphy told Wall Street analysts on the second quarter earnings call based on a transcript from SeekingAlpha.com.

Ferguson breaks out only segmented ecommerce results, typically for its residential digital commerce business for the U.S. In the second quarter, Ferguson says its U.S. residential digital commerce business accounted for 10% of all sales and grew year over year by 24%.

Based on these metrics, Digital Commerce 360 projects that Ferguson’s fiscal Q2 digital sales totaled $617.2 million, up 24% from about $498.0 million in fiscal Q2 2021. “Residential digital commerce continued to grow well on top of 40% prior year comparables benefiting from ongoing demand from the project-minded consumer and light decorative professionals,” group chief financial officer Bill Brundage told analysts.

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