Investing.com -- Rexel SA reported third-quarter sales of €5.45 billion, up 11.4% on a same-day basis, marking its strongest quarterly performance since 2022, driven by significant growth in North American data centers.
The electrical equipment distributor saw sequential acceleration led by the United States, where data center sales surged into triple digits and now represent approximately 13% of US sales. North America posted same-day sales growth of 17.4%, with industrial automation up around 20%. Overall third-quarter revenue rose 14.6% YoY on a reported basis. The company raised its full-year 2026 outlook for the second time, now projecting same-day sales growth of approximately 7%, up from a previous estimate of around 5%, and current adjusted EBITA margin of at least 6.4%, compared to at least 6.2% previously.
Shares rose 2% following the results.
"Rexel achieved its best quarterly sales performance since 2022, confirming the acceleration of our growth trajectory," said Guillaume Texier, Chief Executive Officer. "This performance was led by the United States, where our exposure to data centers and other attractive verticals, combined with our increasingly differentiated value proposition, enabled us to capture particularly strong demand."
Europe maintained positive momentum with same-day sales up 4.5%, fueled by demand in HVAC, solar and EV charging stations, which grew approximately 13% and represent more than 20% of European sales. The region benefited from electrification plans amid energy price volatility.
The company's third-quarter growth reflected balanced contributions from volumes, which contributed 6.3%, and price increases in both cable and non-cable products. Digital sales increased to 36% of total Group sales, up 256 basis points.
For the nine-month period, Rexel posted sales of €15.44 billion, up 6.2% on a reported basis and 7.3% on a constant and same-day basis.
The company signed an agreement to acquire GCG in the US, its largest acquisition in more than 15 years, with closing expected by year-end. The transaction is supported by a €500 million capital increase.
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