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Anixter beat Q3 estimates

Oct. 23, 2018 7:30 AM ETWESCO International, Inc. (WCC) StockBy: Niloofer Shaikh, SA News Editor
  • 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)

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