Wesco Intl Stock Price, News & Analysis

WESCO International (NYSE: WCC) reported record net sales of $4.7 billion for Q3 2021, up 14.2% year-over-year, with organic sales growth of 13.6%. Operating profit reached $229.5 million, showing a 28.8% increase from Q3 2020, and adjusted earnings per diluted share improved by 65% to $2.74. The company raised its full-year outlook for adjusted EPS to between $9.20 and $9.40. A backlog increase of over 60% and effective cost measures contributed to strong performance amid ongoing digital transformation initiatives.

WESCO International, Inc. (NYSE: WCC) will host its third quarter 2021 earnings conference call on November 4 at 10:00 a.m. ET. Investors can access the live webcast and presentation slides on WESCO's website. Additionally, WESCO will attend the Baird 2021 Global Industrial Conference on November 10 and the Stephens Annual Investment Conference on December 2. With pro forma annual sales over $16 billion and a global presence in over 50 countries, WESCO continues to enhance its distribution and logistics services.

The Board of Directors of WESCO International, Inc. (NYSE: WCC) has declared a cash dividend of $664.0625 per preferred share for its 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock, covering the period from July 1, 2021, through September 30, 2021. This dividend, equating to $0.6640625 per depository share, will be payable on September 30, 2021, to shareholders on record as of close of business on September 15, 2021.

WESCO International, Inc. (NYSE: WCC) announces the election of Anne M. Cooney to its Board of Directors, effective September 1, 2021. With extensive experience in managing complex global organizations, Cooney's addition is expected to enhance the board's expertise in the industrial sector. Concurrently, Lynn M. Utter will retire from the board after over 15 years of service, ensuring a smooth transition for the new director. WESCO aims to strengthen its governance through ongoing board refreshment, reflecting a commitment to stockholder value.

WESCO International, Inc. (NYSE: WCC) reported strong second-quarter 2021 results, driven by the merger with Anixter. Net sales reached $4.6 billion, over double last year's figures. Adjusted EBITDA margin is projected to expand to 6.1-6.4% with adjusted EPS expected to grow to $8.40-$8.80. The company raised its cost synergy target from $250 million to $300 million. Record backlog and improved operating profit indicate robust business momentum. However, net cash flow showed an outflow of $17.7 million due to working capital changes. The outlook remains positive, with a projected leverage ratio return timeline accelerated to late 2022.

WESCO International (NYSE: WCC) will host its second quarter 2021 earnings conference call on August 5 at 10:00 a.m. EDT. Investors can access the live audio webcast and presentation slides via the company's investor relations website. Following the earnings call, a replay will be available from August 5, 2:00 p.m. ET to August 12, 9:00 a.m. ET. Additionally, WESCO will virtually participate in the RBC Global Industrials Conference on September 9, with further details to be announced.

The Board of Directors of WESCO International, Inc. (NYSE: WCC) declared a cash dividend of $664.0625 per preferred share for the period from April 1, 2021, to June 30, 2021. This amounts to $0.6640625 per depository share, payable on June 30, 2021, to shareholders on record as of June 15, 2021. WESCO, a FORTUNE 500 company with over $16 billion in pro forma 2020 sales, specializes in distribution and logistics solutions and operates approximately 800 locations across more than 50 countries.

WESCO Distribution (NYSE: WCC) will redeem its outstanding 5.375% Senior Notes due 2024, totaling $350 million, on July 2, 2021. The redemption price is set at 101.344% of the principal, plus accrued interest. This action, funded by cash and credit facilities, is anticipated to save around $2 million in interest expenses for 2021 and $18 million annually thereafter. The company aims to reduce its net leverage ratio below 3.5x by June 2023, enhancing its balance sheet.

WESCO International (NYSE: WCC) reported a strong first quarter of 2021, achieving net sales of $4.0 billion, a 105.3% increase from the previous year, primarily due to the Anixter merger. The company raised its 2021 outlook, forecasting sales growth of 4.5% to 7.5% and an adjusted EBITDA margin expansion of 5.8% to 6.1%. Operating profit improved to $133.3 million, with a reduced financial leverage ratio below 5.0X following a $500 million debt reduction. WESCO's backlog reached record levels, signaling sustained market demand.