Anixter Posts Excellent First-Quarter Growth and Raises Full-Year Guidance
Anixter International started fiscal 2017 off strong with consolidated sales growing 4.4% (5.6% on an organic, per-day basis) to $1.9 billion and adjusted EPS increasing 18.5% to $1.09 per share. The narrow-moat industrial distributor’s first-quarter sales and adjusted EPS topped consensus estimates, and the company raised its full-year sales and cash flow expectations. Anixter shares rallied about 5% on April 25 in response to the company’s strong first-quarter performance and more optimistic o...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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