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More on Anixter's Q3

Oct. 24, 2017 10:53 AM ETWESCO International, Inc. (WCC) StockBy: Niloofer Shaikh, SA News Editor
  • 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.

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