The 2020 Mid-Year Economic Update_long

Anixter’s Sales Down 2% in First Quarter

Profit was $35.7 million, down 9% over 2019.
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Anixter International Inc. (NYSE: AXE), Glenview, Illinois, reported first-quarter sales of $2.1 billion, down 2%. Profit was $35.7 million, down 9% over 2019.

Network & Security Solutions reported first quarter sales of $1.1 billion, a decrease of 2.9%, or a decrease of 2.3% on an organic basis. Adjusted EBITDA decreased 9.7% to $70.4 million. Adjusted EBITDA margin of 6.5% compares to 7.0%.

Electrical & Electronic Solutions reported first quarter sales of $542.2 million, a decrease of 4.2%, or a decrease of 3.5% on an organic basis. Adjusted EBITDA decreased 1.5% to $32.1 million. Adjusted EBITDA margin of 5.9% compares to 5.8%.

Utility Power Solutions reported record first quarter sales of $448.9 million, an increase of 4.4%, or 4.4% on an organic basis. Adjusted EBITDA increased 17.2% to $26.6 million. Adjusted EBITDA margin of 5.9% compares to 5.3%.

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