PITTSBURGH, Jan. 21, 2025 /PRNewswire/ -- Wesco International (NYSE: WCC) will hold its fourth quarter 2024 earnings conference call on Tuesday, February 11 at 10:00 a.m. ET. Dial-in details are below. The live audio webcast of the earnings presentation can be accessed at https://investors.wesco.com, where related materials will be posted prior to the presentation and a replay of the webcast will be available.Wesco will also be participating in the Raymond James Institutional Investor Conference on March 4 ...

Dublin, Dec. 04, 2024 (GLOBE NEWSWIRE) -- The "Enterprise Tech Ecosystem Series: WESCO, International, Inc. - 2024" company profile has been added to ResearchAndMarkets.com's offering. The report provides insights into the company's tech activities, including its digital transformation strategies, its innovation programs, its technology initiatives, and acquisitions. The report provides information and insights into WESCO's tech activities, including: Insights of its digital transformation strategies and i ...

WESCO International (WCC) has reported third-quarter 2024 adjusted earnings of $3.58 per share, down 20.3% year over year. The bottom line beat the Zacks Consensus Estimate by 11.18%.WCC’s earnings beat the Zacks Consensus Estimate in one of the trailing four quarters, missing the same in the remaining three quarters, the average negative surprise being 8.34%.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Net sales of $5.489 billion fell 2.7% year over year. The figure beat the Zacks ...

WESCO International, Inc. (NYSE:WCC) Q3 2024 Earnings Conference Call October 31, 2024 10:00 AM ET Company Participants Scott Gaffner – Senior Vice President-Investor Relations John Engel – President and Chief Executive Officer Dave Schulz – Executive Vice President and Chief Financial Officer Conference Call Participants Nigel Coe – Wolfe Research Sam Darkatsh – Raymond James David Manthey – Baird Deane Dray – RBC Capital Markets Christopher Glynn – Oppenheimer Ken Newman – KeyBanc Capital Markets Patrick ...

Financial Performance - Net sales for the first nine months of 2024 decreased by $592.7 million, or 3.5%, compared to the same period in 2023, primarily due to a volume decline of approximately 3%[96] - Income from operations for the first nine months of 2024 was $922.1 million, a decrease of $168.6 million, or 15.5%, compared to $1,090.7 million in the prior year[96] - Net sales for the third quarter of 2024 were $5.5 billion, a decrease of 2.7% from $5.6 billion in the third quarter of 2023[102] - Organic sales for the third quarter of 2024 declined by 0.6%, reflecting an estimated 2% decline in volume, driven by decreases in the EES and UBS segments[102] - Net income for Q3 2024 was $189.9 million, down from $219.0 million in Q3 2023, with diluted earnings per share of $3.81 compared to $4.20[110] - Adjusted EBITDA for Q3 2024 was $398.1 million, a decrease of $58.9 million, or 12.9%, year-over-year, primarily due to a $155.0 million decrease in net sales[111] - Net income for the first nine months of 2024 was $509.1 million, or $10.02 per diluted share, down from $580.5 million, or $11.08 per diluted share in 2023[135] - Adjusted net income attributable to common stockholders for the three months ended September 30, 2024, was $178.1 million, down from $234.4 million in the same period of 2023[125] Costs and Expenses - Cost of goods sold for the third quarter of 2024 was $4.3 billion, with a cost of goods sold percentage of 77.9%, down from 78.4% in the third quarter of 2023[103] - SG&A expenses for Q3 2024 totaled $831.1 million, an increase of $34.7 million, or 4.4%, compared to Q3 2023, representing 15.1% of net sales[104] - SG&A expenses increased by $43.1 million, or 1.8%, totaling $2,488.9 million for the first nine months of 2024, with SG&A as a percentage of net sales rising to 15.3% from 14.5% in 2023[129] - Digital transformation costs for the three months ended September 30, 2024, were $5.4 million, down from $12.9 million in the same period of 2023[123] - Digital transformation costs for the nine months ended September 30, 2024, amounted to $25.1 million, down from $36.1 million in the same period of 2023[156] Taxation - The provision for income taxes increased to $69.3 million in Q3 2024, resulting in an effective tax rate of 25.3%, up from 15.9% in Q3 2023[109] - Provision for income taxes for the three months ended September 30, 2024, was $69.3 million, an increase from $44.3 million in the same period of 2023[123][125] - The provision for income taxes was $188.1 million for the first nine months of 2024, resulting in an effective tax rate of 25.4%, up from 20.4% in the prior year[134] Divestitures and Business Changes - The divestiture of the WIS business negatively impacted net sales by 3.5% for the third quarter of 2024[100] - The company completed the sale of its integrated supply business on April 1, 2024, which contributed to the financial results for the first nine months of 2024[96] - Other non-operating income for Q3 2024 was $24.9 million, compared to an expense of $3.7 million in Q3 2023, including a gain of $19.3 million from the divestiture of the WIS business[107] Liquidity and Debt - As of September 30, 2024, the company had $1.2 billion in total available borrowing capacity under its Revolving Credit Facility[99] - As of September 30, 2024, the company had approximately $1.7 billion in liquidity, consisting of $1.2 billion in available borrowing capacity and $370.0 million in cash[154] - Total debt as of September 30, 2024, was $5,073.2 million, down from $5,364.6 million as of December 31, 2023[156] - The financial leverage ratio as of September 30, 2024, was 2.9x, compared to 2.8x as of December 31, 2023[156] - The maximum borrowing limit of the Revolving Credit Facility is $1,725 million, with $485.0 million outstanding as of September 30, 2024[158] Operational Metrics - The company employed approximately 20,000 people and served nearly 150,000 customers worldwide, maintaining relationships with over 50,000 suppliers[92] - Net cash provided by operating activities for the first nine months of 2024 totaled $824.6 million, a significant increase from $423.9 million in the same period of 2023[158] - Capital expenditures for the first nine months of 2024 were $70.4 million, compared to $63.6 million in the same period of 2023, focusing on digital transformation initiatives[161] Segment Performance - Electrical & Electronic Solutions (EES) reported net sales of $2,151.2 million for Q3 2024, a decrease of $39.5 million, or 1.8%, with organic sales declining by 2.9%[113] - Communications & Security Solutions (CSS) net sales increased by $177.1 million, or 10.0%, to $1,955.1 million in Q3 2024, with organic sales growing by 8.5%[116] - Utility & Broadband Solutions (UBS) reported net sales of $1,383.1 million for Q3 2024, a decrease of $292.6 million, or 17.5%, with organic sales declining by 7.2%[117] - Electrical & Electronic Solutions (EES) reported net sales of $6,423.1 million for the first nine months of 2024, a decrease of $103.0 million, or 1.6%, with organic sales declining by 1.8%[137] - Communications & Security Solutions (CSS) reported net sales of $5,491.1 million for the first nine months of 2024, an increase of $130.2 million, or 2.4%, with organic sales growing by 2.0%[140] - UBS reported net sales of $4,404.9 million for the first nine months of 2024, a decrease of 12.3% compared to $5,024.8 million for the same period in 2023[141]

NYSE: WCC Third Quarter 2024 Webcast Presentation October 31, 2024 Forward-Looking Statements All statements made herein that are not historical facts should be considered as "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. These statements include, but are not limited to, statements regarding business strategy, growth st ...

Wesco International (WCC) reported $5.49 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 2.8%. EPS of $3.58 for the same period compares to $4.49 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $5.46 billion, representing a surprise of +0.55%. The company delivered an EPS surprise of +11.18%, with the consensus EPS estimate being $3.22.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

Wesco International (WCC) came out with quarterly earnings of $3.58 per share, beating the Zacks Consensus Estimate of $3.22 per share. This compares to earnings of $4.49 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.18%. A quarter ago, it was expected that this maker of electrical and industrial maintenance supplies and construction materials would post earnings of $3.48 per share when it actually produced earnings of $3 ...

NEWS RELEASE WESCO International, Inc. / 225 West Station Square Drive, Suite 700 / Pittsburgh, PA 15219 Wesco International Reports Third Quarter 2024 Results • Third quarter reported net sales down 2.7% YOY due primarily to the Wesco Integrated Supply divestiture – Organic sales down 0.6% YOY and up 0.1% sequentially • Third quarter operating profit of $336 million; operating margin of 6.1% – Gross margin of 22.1%, up 50 basis points YOY and up 20 basis points sequentially – Adjusted EBITDA margin of 7.3% ...

PITTSBURGH, Oct. 14, 2024 /PRNewswire/ -- Wesco International (NYSE: WCC) will hold its third quarter 2024 earnings conference call on Thursday, October 31 at 10:00 a.m. ET. Dial-in details are below. The live audio webcast of the earnings presentation can be accessed at https://investors.wesco.com, where related materials will be posted prior to the presentation and a replay of the webcast will be available. In addition, Wesco will be participating in the Baird Industrial Conference on November 13, Stephen ...