French electronics distributor Rexel announced Thursday that its sales rose by 12.6% in the first quarter of 2023, including a 9.6% year-over-year increase in its U.S. sales.
The company reported that sales grew across all regions amid "strong demand in energy transition activities," along with the benefit of an additional sales day compared to the same quarter last year.
"We continue to see high and growing demand in all geographies for energy efficiency and electricity generation solutions, electrification usages and industrial automation," Rexel CEO Guillaume Texier said in a statement. "These trends are supported by several drivers, including government stimulus plans and regulations, corporate energy transition agendas and general concerns from our customers over the price of energy and its availability."
North America accounted for 42% of the company's overall sales in the quarter; sales in the U.S. and Canada combined were up 17.4%, bolstered by a strong U.S. dollar and the impact of its acquisitions of Horizon Solutions, Buckles-Smith and LTL.
The distributor maintained its earlier guidance for the full year.
