Anixter Is Off to a Great Start in 2019 With Strong 1Q Organic Sales Growth and Margin Expansion
Anixter International's stock surged over 10% during intraday trading on April 23 following the release of the narrow-moat-rated distributor's first-quarter earnings results. Reported sales increased over 7% year over year (almost 8% organic growth) to a first-quarter record $2.1 billion, which topped management's guidance of 3% to 5% organic sales growth. The company delivered on its margin expansion goals, too, as first-quarter gross profit margin expanded 30 basis point year over year to 19.9...Anixter International is engaged in the distribution of network and security solutions, electrical and electronic solutions, and utility power solutions through Anixter Inc. and its subsidiaries. The Network and Security Solutions segment supplies products and customized supply chain solutions. The Electrical and Electronic Solutions segment supplies wire and cable, control, lighting and electrical bulk products and customized supply chain solutions. The Utility Power Solutions segment supplies electrical transmission and distribution products, power plant maintenance, repair and operations supplies and smart-grid products, and arranges materials management and procurement outsourcing.
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