Ferguson now headquartered in the U.S.

Rhea-AI Summary

Ferguson Enterprises Inc. (NYSE: FERG; LSE: FERG) has completed its corporate reorganization and is now headquartered in Newport News, Virginia. This move aligns the company's North American operations and leadership with its headquarters and governance. Ferguson, with $29.7 billion in revenue for FY2023, is the largest value-added distributor serving the specialized professional in the $340 billion North American construction market.

The company employs 35,000 associates across more than 1,700 locations, offering expertise and a wide range of products and services including plumbing, HVAC, appliances, lighting, PVF, and water and wastewater solutions. Ferguson is included in the S&P Total Market Index, MSCI, CRSP indices, and Russell 1000.

Positive

• Completed corporate reorganization, aligning North American operations with U.S. headquarters
• Reported $29.7 billion in revenue for FY2023
• Largest value-added distributor in $340 billion North American construction market
• Extensive network of 35,000 associates and 1,700+ locations
• Inclusion in major stock indices (S&P Total Market Index, MSCI, CRSP, Russell 1000)

Negative

• None.

Insights

Financial Analyst

Ferguson's corporate reorganization and relocation of its headquarters to Newport News, Virginia marks a significant milestone in the company's strategic alignment. This move, while not directly impacting financial performance, carries several implications for investors:

• Market Perception: The shift to a U.S. headquarters may enhance Ferguson's appeal to American investors, potentially broadening its shareholder base.
• Operational Efficiency: Aligning North American operations with leadership and governance structures could lead to streamlined decision-making and improved operational efficiency.
• Regulatory Environment: As a U.S.-headquartered company, Ferguson may face different regulatory requirements, which could affect compliance costs and reporting standards.

The company's inclusion in major indices like the S&P Total Market Index and Russell 1000 underscores its market significance. With reported revenue of $29.7 billion in FY2023 and a substantial market presence in the $340 billion North American construction market, Ferguson demonstrates strong financial performance and market positioning.

While this news doesn't directly impact immediate financial metrics, it sets the stage for potential long-term benefits in terms of market perception and operational synergies. Investors should monitor how this reorganization translates into tangible financial and operational improvements in the coming quarters.

Market Research Analyst

Ferguson's headquarters relocation to the U.S. is a strategic move that aligns with its primary market focus. This decision carries several implications for the company's market position and growth prospects:

• Market Alignment: With 100% of its business operations in North America, this move better aligns Ferguson's corporate structure with its core market, potentially enhancing its responsiveness to local market dynamics.
• Brand Identity: The U.S. headquarters may strengthen Ferguson's identity as a North American company, potentially boosting its appeal to local customers and partners.
• Market Share: As the largest value-added distributor in its sector, Ferguson is well-positioned to capitalize on the $340 billion North American construction market. The headquarters move may further solidify this position.

The company's extensive network of 1,700+ locations and 35,000 associates provides a robust infrastructure for market penetration and customer service. Ferguson's diverse product portfolio, spanning plumbing, HVAC, lighting and more, allows it to serve a wide range of construction needs, potentially insulating it from sector-specific downturns.

Investors should watch for any changes in Ferguson's market share or customer acquisition rates following this move, as these could be indicators of the strategy's success in enhancing market presence and customer relationships.

NEWPORT NEWS, Va.--(BUSINESS WIRE)-- Ferguson Enterprises Inc. (NYSE: FERG; LSE: FERG), a Delaware corporation, announces today Ferguson is now headquartered in Newport News, Virginia following the completion of its corporate reorganization.

“We have now completed the final step in our journey to better align our North American operations and leadership with our headquarters and governance,” said Ferguson CEO Kevin Murphy. “Our associates have helped our customers build this country for more than 70 years, and we’re proud to have Ferguson headquartered in the U.S. and to celebrate the value they bring to the North American construction market each and every day.”

“This milestone is the culmination of a multi-year, methodical process that required significant shareholder engagement,” said Ferguson CFO Bill Brundage. “We want to thank our associates, customers, shareholders and Board of Directors for their support, and we look forward to building on our strong track record of growth and financial performance.”

Ferguson is included in the S&P Total Market Index, MSCI, CRSP indices and Russell 1000. With $29.7 billion of revenue in FY2023, and 35,000 talented associates serving our customers across more than 1,700 locations, the Company is the largest value-added distributor serving the specialized professional in our $340B residential and non-residential North American construction market. It helps make customers’ complex projects simple, successful and sustainable by providing expertise and a wide range of products and services from plumbing, HVAC, and appliances to lighting, PVF, water and wastewater solutions, and more.

About Ferguson

Ferguson (NYSE: FERG; LSE: FERG) is the largest value-added distributor serving the specialized professional in our $340B residential and non-residential North American construction market. We help make our customers’ complex projects simple, successful and sustainable by providing expertise and a wide range of products and services from plumbing, HVAC, appliances, and lighting to PVF, water and wastewater solutions, and more. Headquartered in Newport News, Va., Ferguson has sales of $29.7 billion (FY’23) and approximately 35,000 associates in 1,700 locations. For more information, please visit corporate.ferguson.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240801514051/en/

Investor Inquiries

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Pete Kennedy

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Senior Director, Communications and Public Relations

+1 757 469 5813

Source: Ferguson Enterprises Inc.

FAQ

Where is Ferguson Enterprises Inc. (FERG) now headquartered?

Ferguson Enterprises Inc. (FERG) is now headquartered in Newport News, Virginia, following the completion of its corporate reorganization.

What was Ferguson's (FERG) revenue for FY2023?

Ferguson (FERG) reported revenue of $29.7 billion for FY2023.

How many locations does Ferguson (FERG) have?

Ferguson (FERG) operates across more than 1,700 locations in North America.

What is the size of the North American construction market that Ferguson (FERG) serves?

Ferguson (FERG) serves a $340 billion residential and non-residential North American construction market.

Which stock indices include Ferguson (FERG)?

Ferguson (FERG) is included in the S&P Total Market Index, MSCI, CRSP indices, and Russell 1000.