Organic Revenue Growth Accelerates for Narrow-Moat Anixter International; Maintaining $107 FVE
In our view, Anixter's broad-based organic revenue growth was the highlight of an otherwise solid second-quarter performance. On a consolidated basis, Anixter posted 4.9% organic revenue growth during the quarter, which management noted was the second-highest organic growth rate the firm has achieved over the past six years. Profitability was also solid, as the firm's adjusted operating margin of 4.5% was mostly in line with the year-ago quarter and improved 90 basis points sequentially. On a re...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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