Anixter Int'l (AXE) Tops Q3 EPS by 4c

Anixter Int'l (NYSE: AXE) reported Q3 EPS of $1.61, $0.04 better than the analyst estimate of $1.57. Revenue for the quarter came in at $2.2 billion versus the consensus estimate of $2.11 billion.

GUIDANCE:

"As we look ahead to the fourth quarter, we are optimistic that solid sales growth will continue, reflecting momentum across the business and a solid demand environment, tempered by uncertainty caused by economic policies. Based on current conditions, we estimate fourth quarter 2018 organic sales growth in the 4.5 - 5.5% range, against a strong fourth quarter of 2017. For the full year, we are increasing the low end of our range by 100 basis points, and now estimate full year 2018 sales growth of 4.5 - 5.0%. As a result of our stronger sales outlook and the working capital required to support that growth, we now estimate cash flow from operations of $160 - $180 million and capital investment of $45 - $50 million," commented Ted Dosch, EVP and Chief Financial Officer."

Dosch continued, "As we move into the fourth quarter and 2019, we are focused on the significant opportunity to leverage our unique set of products and innovative solutions across our global network. Through our customer access strategy, combined with our comprehensive services offerings, we are positioned for sustainable revenue growth. We have strategies in place to enhance gross margin and improve our expense structure, with the goal of improving the profitability of the business, 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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