Anixter Int'l (AXE) Tops Q1 EPS by 16c

Anixter Int'l (NYSE: AXE) reported Q1 EPS of $1.33, $0.16 better than the analyst estimate of $1.17. Revenue for the quarter came in at $2.1 billion versus the consensus estimate of $2.03 billion.

GUIDANCE:

Galvin commented,"We are optimistic that favorable sales trends that we realized in the first quarter of 2019 will continue, based on our strong backlog and pipeline trends, and discussions with our customers and suppliers. We continue to see strong demand, tempered by macro economic uncertainty in certain markets. Based on current conditions, we have increased our 2019 organic sales growth to the 4% - 6.5% range, with second 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 reaffirm our previous estimate for full year cash flow from operations of $150 - $175 million and capital expenditures of $55 - $60 million, which will result in free cash flow of $95 - $115 million."

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

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