Welcome to our dedicated page for Wesco International news (Ticker: $WCC), a resource for investors and traders seeking the latest updates and insights on Wesco International stock.
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Wesco International reported its first quarter 2024 results, showing a 3% decrease in net sales year-over-year and a 3.2% decrease in organic sales. The operating profit was $263 million with an operating margin of 4.9%. The adjusted EBITDA margin was 6.4%, down 60 basis points sequentially and 120 basis points year-over-year. Wesco's financial leverage improved to 2.6x. The company generated record free cash flow of $731 million in the quarter and over $1.4 billion over the trailing twelve months. Despite the decrease in sales, Wesco is maintaining its full-year outlook for organic sales growth and adjusted EBITDA margin. The company is focused on increasing its free cash flow outlook and pursuing capital allocation strategies more aggressively. Wesco's long-term growth trends and global capabilities position it for sustained sales growth and increased market share.