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Ferguson, a wholesale distributor headquartered in the U.K., with its operations and associates solely focused on North America and managed from Newport News, Virginia, has announced its fourth quarter and year-end results. Highlights of the fourth quarter include completing three acquisitions during the quarter, generating annualized revenue of approximately $450 million; and ending the year with an operating margin of 8.9% (9.8% on an adjusted basis).
"Our teams continued to execute, delivering strong full-year results with continued market outperformance, as our balanced business mix served us well in challenging markets," commented Ferguson CEO Kevin Murphy. "I would like to thank our associates for their unwavering commitment to helping make our customers' complex projects simple, successful, and sustainable. As expected, disciplined working capital management drove excellent cash flow in the year. Our cash-generative model and strong balance sheet allow us to invest for organic growth, sustainably grow our dividend, consolidate our fragmented markets through acquisitions, and return capital to shareholders.