Rexel reported Q1 18 results below our estimates as well as industry consensus. The company once again grew in all its operating regions. Growth rates for North America and Asia remained on an upward trajectory, a direct contrast to the European region, where growth momentum softened for the second straight quarter. We remain optimistic on the North American growth story, whereas Europe should remain subdued mainly due to an unfavourable base effect. We have revised our estimates downwards. N
21 May 2018
Rexel: weak Q1 18
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Rexel: weak Q1 18
Rexel SA (RXL:PAR) | 0 0 (-0.6%) | Mkt Cap: 4,449m
- Published:
21 May 2018 -
Author:
Ankush Kathuria -
Pages:
3
Rexel reported Q1 18 results below our estimates as well as industry consensus. The company once again grew in all its operating regions. Growth rates for North America and Asia remained on an upward trajectory, a direct contrast to the European region, where growth momentum softened for the second straight quarter. We remain optimistic on the North American growth story, whereas Europe should remain subdued mainly due to an unfavourable base effect. We have revised our estimates downwards. N