Anixter Int'l (AXE) Tops Q2 EPS by 4c

Anixter Int'l (NYSE: AXE) reported Q2 EPS of $1.53, $0.04 better than the analyst estimate of $1.49. Revenue for the quarter came in at $2.1 billion versus the consensus estimate of $2.12 billion.

Outlook

"As we look ahead to the third quarter and full year, we are optimistic that sales growth will continue, reflecting momentum across the business and indications that our large project business is in the early stages of a recovery. Based on current trends, we estimate third quarter 2018 organic sales growth in the 4.0 - 5.0% range. For the full year, we are increasing the low end of our range by 150 basis points, and now estimate full year 2018 sales growth of 3.5 - 5.0%. However, this could be tempered by project timing and uncertainty caused by economic policies. We continue to estimate cash flow from operations of $180 - $200 million and now expect capital investment of $50 - $60 million,\" commented Ted Dosch, EVP and Chief Financial Officer. \"Our business is well positioned in the current competitive environment, providing significant opportunity to leverage our unique set of products and specialized solutions across our global network. We have strategies in place to combine revenue growth with enhanced gross margin, while improving our expense structure, with the goal of 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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