- Anixter (AXE -6.2%) reports organic net sales rose 1.5% in Q3.
- Network & Security Solutions net sales flat Y/Y at $1.05B.
- Electrical & Electronic Solutions net sales grew 3.7% to $555M.
- Utility Power Solutions net sales up 11% to $412.2M.
- North America net sales expanded 0.9% to $1.67B.
- Gross margin rate fell 60 bps to 19.7%, due to customer, product and segment mix.
- Adjusted operating margin rate up 50 bps to 4.5%.
- Adjusted EBITDA margin -40 bps to 5.1%.
- The company expects Q4 organic sales growth in the 2.5% - 3.5% range.
- FY2017 Guidance: Organic sales: +3% to +3.5%; Cash flow from operation: $200M to $220M; Capex: $45M to $50M.
More on Anixter's Q3
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