Rexel raised its 2026 sales and margin targets after third-quarter revenue climbed 11.4% on a constant-exchange-rate, same-working-day basis, with U.S. data-center demand among the drivers.
Reported sales totaled €5,452.9 million, 14.6% higher than a year earlier. Volume added 6.3 percentage points to same-day growth, while cable and non-cable pricing contributed 2.9 and 2.2 points, respectively, the company said.
North America recorded 17.4% growth on a same-day basis, led by the United States, where sales rose 18.2%. Rexel said U.S. data-center sales grew at a triple-digit rate and made up about 13% of U.S. sales. Industrial automation sales increased about 20%, according to the company.
Europe recorded 4.5% growth and Asia-Pacific 15.8% on a same-day basis. Rexel said European sales of heating, ventilation and air conditioning, solar and electric-vehicle charging products rose about 13% and accounted for more than 20% of regional sales.
The company now expects 2026 same-day sales growth of about 7%, up from its previous estimate of about 5%. It raised its minimum target for current adjusted earnings before interest, taxes and amortization (EBITA) margin to 6.4% from 6.2%, while keeping its free-cash-flow conversion target above 65%. This is Rexel’s second increase to its 2026 guidance. The company cited data centers and electrification as growth drivers as it focuses on higher-growth segments and value-added services.
Rexel Chief Executive Guillaume Texier said the results led the company to “raise our full-year 2026 guidance for the second time.”
At the end of September, Rexel’s North American backlog exceeded $3 billion, 42% above its level at the end of 2025 and equivalent to 3.4 months of sales, the company said.
Rexel completed a €500 million capital increase to help fund its planned acquisition of U.S. distributor GCG. The company has said the deal would broaden its specialty solutions for customers and expects it to close by year-end 2026, subject to regulatory approvals and customary closing conditions. Rexel’s next scheduled report, covering fourth-quarter sales and full-year 2026 results, is due Feb. 10, 2027, after market close.
