Wesco Intl Stock Price, News & Analysis

Wesco International (NYSE: WCC) reported record fourth-quarter net sales of $5.6 billion for 2022, reflecting a 15% year-over-year increase. The full year saw net sales reach $21.4 billion, up 18% YOY. Adjusted EBITDA rose 41% YOY to $451 million with an 8.1% margin. Operating profit was $382 million, with a 6.9% margin, while earnings per diluted share increased to $3.90. The Rahi Systems acquisition positively impacted results, contributing to strong organic sales growth of 14.4% in Q4. Wesco's operating cash flow reached a record $422 million, and free cash flow stood at $399 million, indicating strong liquidity and financial health.

Wesco has been recognized as one of America’s Best-Managed Companies, ranking #173 on the Top 250 list for 2022, published by The Drucker Institute in The Wall Street Journal. Notably, Wesco's score increased by 8.9 points from the previous year, marking the largest improvement in the Industrial Goods sector. This is the first year Wesco appears on the Top 250 list, showcasing its commitment to corporate performance across five dimensions: customer satisfaction, employee engagement, innovation, social responsibility, and financial strength.

Wesco International (NYSE: WCC) will host its fourth quarter and full year 2022 earnings conference call on February 14, 2023, at 10:00 a.m. ET. Dial-in details include a North American number: 1-888-349-0106 and an international number: 1-412-902-0131, with the access code Wesco. Additionally, the company will participate in several key investor conferences in March 2023, such as the Raymond James Institutional Investors Conference and the J.P. Morgan Industrials Conference. Wesco, a FORTUNE 500® firm with annual sales exceeding $18 billion, provides business-to-business distribution and supply chain solutions globally.

Ryder System has appointed Charles M. “Chuck” Swoboda to its board of directors, effective December 12, 2022. Swoboda's notable leadership experience includes his tenure as CEO of Cree, Inc. (now Wolfspeed, Inc.), where he grew revenues from $177 million to over $1.6 billion. His expertise in innovation and financial management is expected to enhance Ryder's strategic vision. The board size will increase to twelve to accommodate this appointment, aiming to leverage Swoboda's skills in governance and audit committees.

The Board of Directors of Wesco International (NYSE: WCC) declared a cash dividend of $664.0625 per preferred share for the period from October 1, 2022 to December 31, 2022. The dividend, equivalent to $0.6640625 per depository share, will be payable on January 3, 2023, to shareholders on record as of December 15, 2022. Wesco, a FORTUNE 500® company, is a major player in distribution and supply chain solutions with over $18 billion in annual sales.

Wesco International (NYSE: WCC) announced its participation in key events during Q4, focusing on business strategies and the acquisition of Anixter International. The company will partake in the Baird 2022 Global Industrial Conference in Chicago on November 9, 2022, featuring a fireside chat with CEO John Engel and CFO Dave Schulz. Additionally, Wesco will present at the Stephens Annual Investment Conference in Nashville on November 16, 2022, with CFO Schulz speaking. More details on these events can be found on Wesco's Investors homepage.

Wesco International (WCC) reported record third-quarter earnings with net sales of $5.4 billion, a 15% year-over-year increase. Organic growth reached 17%, bolstered by a record backlog up 60% YoY. Operating profit surged to $402 million, yielding an operating margin of 7.4%. Adjusted earnings per diluted share improved to $4.49, a 64% increase YoY. The 2022 outlook for adjusted earnings per share is narrowed to $15.80-$16.20, showcasing strong performance despite foreign exchange challenges. Cash flow for the quarter was impacted by inventory increases due to supply chain dynamics.