Anixter sees FY19 organic sales up 4%-6.5% from last year
The company commented,"We are optimistic that favorable sales trends that we realized in the Q1 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 Q2 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 $150M-$175M and capital expenditures of $55M-$60M, which will result in free cash flow of $95M-$115M."