- Anixter (AXE) reports organic net sales growth of 7.4% in Q3, driven by organic growth in all segments and geographies.
- Network & Security Solutions net sales rose 8.5% to $1.14B.
- Electrical & Electronic Solutions net sales increased 7.6% to $597.4M.
- Utility Power Solutions net sales up 7.6% to $443.6M.
- North America net sales grew 4.3% to $854M.
- Gross margin rate fell 10 bps to 19.5%.
- Adjusted operating margin rate +10 bps to 4.6%.
- Adjusted EBITDA margin flat Y/Y at 5.1%.
- The company expects Q4 organic sales growth in the 4.5% - 5.5% range.
- FY2018 Guidance: Organic sales: +4.5% to +5%; Cash flow from operation: $160M to $180M; Capex: $45M to $50M.
- AXE +0.48% premarket.
- Previously: Anixter beats by $0.04, beats on revenue (Oct. 23)
Anixter beat Q3 estimates
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