Paris-based electrical supplies distributor Rexel reported accelerating third-quarter growth across all three of its geographic regions, with North America providing the biggest boost.

Rexel posted 3Q26 sales of approximately $6.11 billion, up 14.6% year over year on a reported basis and 11.4% on a constant, same-day basis. Same-day growth accelerated from 6.7% in 2Q, while reported sales increased about 3.8% sequentially. Rexel called it its highest quarterly sales growth rate since 2022.

Volumes contributed 6.3 percentage points to third-quarter organic growth, while higher cable and non-cable pricing added 2.9 and 2.2 points, respectively. That marked a notable step-up from 2Q, when volume contributed 3.1 points to same-day growth.

Through the first nine months of 2026, Rexel generated approximately $17.29 billion in sales, up 6.2% as reported and 7.3% on a constant, same-day basis.

North America Growth Surges

North America accounted for 51% of Rexel’s 3Q sales and was the primary source of its sequential acceleration.

Regional sales totaled approximately $3.09 billion, up 24.1% on a reported basis and 17.4% on a constant, same-day basis. That same-day rate more than doubled from 7.8% in 2Q, while reported North American sales increased about 11.3% sequentially.

U.S. same-day sales jumped 18.2%, compared with 7.8% in 2Q. Data center sales again grew at a triple-digit rate and expanded to approximately 13% of U.S. sales, while industrial automation increased about 20%. Rexel also reported mid-single-digit growth across other nonresidential and residential markets, including aerospace and hospitals.

Canadian same-day sales increased 13.4%, up from 7.5% in 2Q, likewise supported by triple-digit data center growth. Utilities, industrial automation and oil and gas produced low-single-digit growth outside data centers.

Rexel said its North American backlog exceeded $3 billion at quarter-end, up 42% from year-end 2025 and equivalent to 3.4 months of total sales. Data centers represented approximately 25% of the U.S. backlog.

Europe same-day sales increased 4.5% in 3Q, roughly steady with 4.4% in 2Q, while Asia-Pacific growth moderated slightly to 15.8% from 17.0%.

Rexel raised its 2026 guidance for the second time this year. It now expects approximately 7% same-day sales growth, up from about 5%, and an adjusted EBITA margin of at least 6.4%, compared with its previous target of at least 6.2%. Free cash flow conversion guidance remains above 65%.

MDM Analysis

Rexel’s 3Q results reinforce how uneven electrical distribution demand remains beneath strong headline growth. Data centers and industrial automation are generating outsized gains, while more traditional markets are improving at a much slower pace. The encouraging signal is that Rexel’s acceleration was increasingly volume-driven rather than predominantly pricing-driven. For distributors, that favors investment in technical expertise, project capabilities and supplier relationships tied to data centers, automation and other complex infrastructure markets where demand and backlog visibility remain strongest.