Rexel on Monday posted stronger sales across its global operations in the second quarter and raised its outlook for the remainder of the year.
The French electrical distributor reported quarterly sales of nearly 5.3 billion euros — approximately $6 billion — an increase of 6.1% compared to the same period last year.
The company’s North American sales were up 7.8% on a same-day basis over that span, including a 7.8% jump in the U.S. and a 7.5% increase in Canada. Rexel officials attributed “acceleration” in its U.S. sales growth to data centers and industrial automation, and noted its three acquisitions in the North American market — Techno-Contact 360, Revere Electrical Supply and, most recently, DEE Electronics — in the first six months of the year.
Rexel said that sales were up 2.2% in the first half of the year with sharply higher increases in EBITA, operating income and net income. The company adjusted its outlook for the full year from the previous 3% to 5% projected sales increase up to about 5% amid “positive momentum in all regions.”
“In an unstable geopolitical environment, we have made the most of the positioning we have built over the years on secular trends in electrification, both in Europe and in North America, to deliver top line growth above our initial expectations,” Rexel CEO Guillaume Texier said in a statement.
