Anixter Int'l (AXE) Misses Q1 EPS by 14c, Offers Outlook

Anixter Int'l (NYSE: AXE) reported Q1 EPS of $1.16, $0.14 worse than the analyst estimate of $1.30. Revenue for the quarter came in at $2 billion versus the consensus estimate of $1.98 billion.

Outlook

"As we look ahead to the second quarter and full year, we remain cautiously optimistic regarding sales growth even with the difficulty in predicting the timing of major projects. Momentum in our day-to-day business remains steady, we are in the early stages of a recovery in our large project business in NSS, and growth trends in our EES and UPS businesses remain solid. Based on current trends, we estimate second quarter 2018 organic sales growth in the 2.0 - 3.0% range. For the full year 2018, we continue to estimate organic sales growth of 2.0 - 5.0%, cash flow from operations of $180 - $200 million and capital expenditures of $60 - $70 million," commented Bill Galvin, President and Chief Operating Officer.

"In summary, following a challenging quarter, we have a relentless focus on the profitable growth of our business through gross margin initiatives and expense actions. We believe we have a significant opportunity to leverage our unique set of products and specialized solutions across our global network, generating significant cash flow and creating value for all of our stakeholders."

For earnings history and earnings-related data on Anixter Int'l (AXE) click here.

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