The 2020 Mid-Year Economic Update_long

Anixter Sales Up 2.2% in 1Q

Organic sales for the quarter increased 3.8 percent.

Electrical distributor Anixter International Inc. (NYSE: AXE), Glenview, IL, reported sales for the first quarter of $1.52 billion, a 2.2 percent increase compared to the same period a year ago. Organic sales increased 3.8 percent. Profit was $47.4 million, compared to a year-ago profit of $42.5 million.

Enterprise cabling and security solutions sales of $760.1 million compare to $745 million in the prior-year period. The 2 percent increase as driven by strong growth in the European and emerging markets geographies, combined with solid improvement in Anixter’s core US enterprise cabling business.

Electrical and electronic wire and cable had first quarter sales of $514.2 million, a 0.7 percent decrease from the prior-year period, caused primarily by a drop of approximately 10 percent in the average price of copper.

OEM supply sales of $249.5 million increased by 9.4 percent from the prior-year quarter, reflecting the continued increase in customer production levels combined with incremental business wins.

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