Welcome to our dedicated page for Wesco Intl news (Ticker: WCC), a resource for investors and traders seeking the latest updates and insights on Wesco Intl stock.
Wesco International supplies business-to-business distribution, logistics services and supply chain solutions for electrical and electronic, communications and security, and utility and broadband markets. Company news commonly covers operating results, organic sales, margins, cash flow, backlog, data center demand, and outlook updates tied to commercial, industrial, technology, telecommunications and utility customers.
Recurring announcements also include common-stock dividends, capital allocation priorities, digital transformation and AI-related initiatives, supplier and customer network capabilities, and governance changes such as finance leadership and board refreshment.
Wesco International (NYSE: WCC) has appointed Sundaram Nagarajan to its Board of Directors effective September 1, 2022, enhancing board diversity and expertise. Nagarajan, CEO of Nordson Corporation, brings extensive leadership experience in diverse industrial sectors. Concurrently, John K. Morgan will retire from the board on September 30, 2022, after 14 years of service, facilitating a smooth transition for the new director. Wesco's board will now be over 50% diverse, reflecting its commitment to inclusion and effective governance.
Wesco International (NYSE: WCC) reported record net sales of $5.5 billion for Q2 2022, a 19% year-over-year increase. Organic sales growth reached 21% with a record backlog of over 80% year-over-year. Operating profit surged 69% to $371 million and adjusted EBITDA was $444 million, up 44%. The company raised its 2022 adjusted EPS outlook to $15.60 to $16.40, indicating a 55% to 65% increase from the prior year, driven by strong demand and strategic business execution.
Wesco International (NYSE: WCC) is set to hold its second quarter 2022 earnings conference call on August 4, 2022, at 10:00 a.m. ET. The live audio webcast and presentation will be available on the investor relations section of Wesco's website. Additionally, an Investor Day is scheduled for September 7, 2022, where management will detail business strategy and the acquisition of Anixter International. Wesco will also participate in key industry conferences in August and September.
Wesco is celebrating its 100th anniversary and the second anniversary of its merger with Anixter. The company, led by CEO John Engel, emphasizes its commitment to stakeholder value through strategic partnerships. Wesco is launching 'Wesco Cares', a philanthropy program with a $5 million commitment to community initiatives, underscoring its dedication to corporate social responsibility. The firm, headquartered in Pittsburgh, operates globally with over $18 billion in annual sales and a portfolio that serves various industries including government, utilities, and telecommunications.
WESCO International (NYSE: WCC) announced the retirement of Theodore A. Dosch, Executive Vice President and Chief Transformation Officer, effective August 5, 2022. Dosch played a significant role in integrating WESCO and Anixter since June 2020. John J. Engel, Chairman and CEO, expressed gratitude for his contributions and leadership during this period. Headquartered in Pittsburgh, WESCO is a FORTUNE 500® company with over $18 billion in annual sales, providing a wide range of business-to-business distribution and supply chain solutions across various sectors.
The Board of Directors of Wesco International (NYSE: WCC) declared a cash dividend of $664.0625 per preferred share for the period from April 1, 2022 to June 30, 2022. The payment, amounting to $0.6640625 per depository share, is set for June 30, 2022, to shareholders on record by June 15, 2022. Wesco, a FORTUNE 500® company based in location value="LU/us.pa.pittbr"Pittsburgh, boasts over $18 billion in annual sales, serving major global clients with extensive distribution and logistics services.
Wesco International (NYSE: WCC) announced a new $1 billion share repurchase program, underscoring its confidence in long-term growth and robust free cash flow generation. This initiative follows the company's integration with Anixter and aims to enhance shareholder value. The program allows for various repurchase methods, including open market and negotiated transactions, without a fixed acquisition commitment. Wesco, headquartered in Pittsburgh, reported over $18 billion in annual sales and serves a wide range of clients, including over 90% of FORTUNE 100® companies.
Summary not available.
Wesco International (NYSE: WCC) reported record net sales of $4.9 billion for Q1 2022, achieving a 22% year-over-year increase. The company had an organic sales growth of 21.2% and a record backlog, up more than 90% YOY. Operating profit rose to $284 million, with an operating margin of 5.8%. Wesco also raised its full-year outlook for adjusted earnings per share to $14.00-$15.00, reflecting robust anticipated growth. Adjusted earnings per diluted share reached $3.63, a 154% increase YOY.
Wesco International (NYSE: WCC) will conduct its Q1 2022 earnings conference call on May 5, 2022, at 10:00 a.m. ET. Investors can access the live audio webcast and presentation slides via the company's website. The call will also be available for replay starting May 5, 2022, at 12:00 p.m. ET until May 12, 2022, at 12:00 p.m. ET. Additionally, Wesco will participate in the KeyBanc Industrials & Basic Materials Conference on June 1.