Anixter Int'l (AXE) Tops Q1 EPS by 10c

Anixter Int'l (NYSE: AXE) reported Q1 EPS of $1.09, $0.10 better than the analyst estimate of $0.99. Revenue for the quarter came in at $1.9 billion versus the consensus estimate of $1.87 billion.

• Record first quarter sales of $1.9 billion, up 4.4% with growth in all segments and geographies
• Organic sales increased 5.6% on a per day basis, the strongest growth since 4Q 2014
• Debt-to-capital ratio further improved, returning to target range of 45 - 50%

Business Outlook

"We were pleased with our sales momentum in the first quarter, which reflected a slowly improving economic environment and solid execution of our growth initiatives. As we enter the second quarter of 2017, we are cautiously optimistic that the positive momentum we experienced in the quarter will continue, as we maintain our focus on our growth initiatives which include synergistic sales and global accounts," commented Bob Eck. "Together with our current sales and backlog trends, and our conservative view of the macro environment, we expect second quarter 2017 organic sales growth in the 1.5 - 3% range. For the full year 2017 we have increased the midpoint of our outlook range by 100 basis points, and now expect full year organic sales growth in the 2 - 5% range."

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

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