Earnings call transcript: Rexel Q3 2026 sales surge, but stock falls 3.1%

Rexel reported a sharp increase in third-quarter sales, surging to EUR 5.4 billion, up 14.6% from the previous year. This growth was driven by strong performances in North America, Europe, and Asia-Pacific. North America accounted for 51% of the group's sales and grew by 17.4%, while Europe expanded by 4.5% for a fourth consecutive quarter.

Asia-Pacific also saw double-digit growth, up 15.8%. The company's same-day sales grew by 11.4%, the strongest rate since 2022, following a pattern of acceleration from Q1 and Q2. Despite this positive sales outlook, the stock price fell 3.13% to $31.85 in after-hours trading. This decline suggests that investors were weighing the company's strong operating momentum against expectations of slower growth in the fourth quarter.

Rexel raised its full-year 2026 guidance for the second time, highlighting the company's exposure to high-growth sectors such as data centers, energy transition, and industrial automation. Management expects Q4 growth to slow to about 6.5% on a same-day basis, and expects margin pressure from higher costs in North America, the impact of large projects, and competitive pricing pressure.