Anixter Sales Up 3.1% in Third Quarter 2017 - Modern Distribution Management

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Anixter Sales Up 3.1% in Third Quarter 2017

Year-to-date, sales were $5.9 billion, up 3 percent.

Anixter International Inc. (NYSE: AXE), Glenview, IL, reported sales of $2 billion in the third quarter ended Sept. 29, 2017, up 3.1 percent. Organic sales increased 1.5 percent year-over-year

Profit was $37.6 million. Year-to-date, sales were $5.9 billion, up 3 percent.

"Third quarter 2017 year-over-year organic sales growth of 1.5% reflected continued strong organic growth in our Utility Power Solutions segment, as we continue to build our industry-leading utility distribution platform,” said CEO Bob Eck. “Sales performance in our NSS and EES segments was impacted by a reduction in capital project spend in North America and disruption caused by hurricanes and earthquakes.”

Network and Security Solutions third-quarter sales were $1.05 billion, down slightly from the prior-year period. Organic sales were down 0.7 percent, due to a reduction in large project activity and the impact of hurricanes and earthquakes.

Electrical and Electronic Solutions were $555 million, up from $535 million last year, up 3.7 percent. Organic sales were down 0.6 percent, due to weakness in large industrial project activity and the impact of hurricanes. However they saw growth with OEM customers.

Utility Power Solutions had sales of $412.2 million, up 11 percent. Organic growth was 10.5 percent.


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