Anixter International Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 28, 2018. For the quarter, the company reported net sales of $2,179 million against $2,016.4 million a year ago. Operating income was $89.5 million against $80.8 million a year ago. Income before income taxes was $68.6 million against $62.4 million a year ago. Net income was $47.6 million or $1.40 per diluted share against $37.6 million or $1.11 per diluted share a year ago. Net income – Non-GAAP was 54.8 million against $44.2 million a year ago. Diluted EPS – Non-GAAP was $1.61 against $1.30 a year ago. Adjusted operating income - Non-GAAP was $99.8 million against $90.7 million a year ago. Income before income taxes – Non-GAAP was $78.9 million against $72.3 million a year ago. Adjusted effective income tax rate was 30.6% against 38.8% a year ago. EBITDA was $105.7 million against $97.8 million a year ago. Adjusted EBITDA was $111.2 million against $102.5 million a year ago. Basic income per share was $1.41 compared to $1.12 a year ago.

For the nine months, the company reported net sales of $6,281.1 million against $5,913.6 million a year ago. Operating income was $222.4 million against $232.3 million a year ago. Income before income taxes was $163.3 million against $176.1 million a year ago. Net income was $114.5 million or $3.36 per diluted share against $108.6 million or $3.20 per diluted share a year ago. Net cash provided by operating activities was $102.8 million against $110.1 million a year ago. Capital expenditures, net was $32.0 million against $30.9 million a year ago. Net income – Non-GAAP was 146.4 million against $127.4 million a year ago. Diluted EPS – Non-GAAP was $4.30 against $3.75 a year ago. Adjusted operating income - Non-GAAP was $266.7 million against loss of $260.2 million a year ago. Income before income taxes – Non-GAAP was $207.6 million against $204.0 million a year ago. Adjusted effective income tax rate was 29.5% against 37.6% a year ago. EBITDA was $271.7 million against $280.4 million a year ago. Adjusted EBITDA was $302.4 million against $295.0 million a year ago. Basic income per share was $3.39 compared to $3.24 a year ago.

For the fourth quarter, The company expects that solid sales growth will continue, reflecting momentum across the business and a solid demand environment, tempered by uncertainty caused by economic policies. Based on current conditions, the company estimate fourth quarter 2018 organic sales growth in the 4.5% - 5.5% range, against a strong fourth quarter of 2017.

For the full year, The company is increasing the low end of its range by 100 basis points, and now estimate full year 2018 sales growth of 4.5% - 5.0%. As a result of stronger sales outlook and the working capital required to support that growth, the company now estimate cash flow from operations of $160 million to $180 million and capital investment of $45 million $50 million.