Anixter Int'l (AXE) Tops Q4 EPS by 8c

Anixter Int'l (NYSE: AXE) reported Q4 EPS of $1.53, $0.08 better than the analyst estimate of $1.45. Revenue for the quarter came in at $2.12 billion versus the consensus estimate of $2.11 billion.

Outlook

Ted Dosch, EVP and Chief Financial Officer, commented, "As we look ahead to 2019, we are optimistic that favorable sales trends will continue, based on our record backlog, strong pipeline trends, and ongoing discussions with our customers and suppliers. The demand environment remains solid, tempered by uncertainty caused by economic policies and geopolitical issues. Based on current conditions, we estimate 2019 organic sales growth in the 3 - 6% range, with first quarter 2019 organic sales growth in the 3% - 5% range. Based on our outlook for low-to-mid single digit sales growth and the related investment in working capital to support that growth, combined with our ongoing investment in innovation and business transformation, we estimate cash flow from operations of $150 - $175 million and capital investment of $55 - $60 million."

Galvin concluded, "As we turn to 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, comprehensive and unique global services offerings, and initiatives in high growth markets, we are positioned for top line growth and market share gains. We are beginning to benefit from actions we are taking to improve gross margin, which will fund investment in innovation and still deliver operating margin expansion. Long term, we expect our investment in innovation to deliver significant benefits, with the ultimate goal of improving profitability, generating significant cash flow from operations 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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