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.
News about Wesco International, Inc. (NYSE: WCC) centers on its role as a FORTUNE 500 provider of business-to-business distribution, logistics services, and supply chain solutions. Company announcements describe how Wesco builds, connects, powers and protects the world through its Electrical and Electronic Solutions, Communications and Security Solutions, and Utility and Broadband Solutions business units.
Visitors to this news page can review press releases on Wesco’s financial performance, including quarterly results where the company reports net sales, segment performance, margins, cash flow, and backlog trends. Earnings updates often highlight organic sales growth, data center-related sales within the Communications and Security Solutions segment, and developments in utility and infrastructure-related business.
Wesco’s news flow also includes board and leadership updates, such as the appointment of new independent directors and planned retirements in accordance with corporate governance guidelines. Announcements may cover changes in leadership for specific segments like Electrical and Electronic Solutions, along with related disclosures in SEC filings.
Dividend declarations are another recurring topic, with the board of directors issuing press releases when it approves quarterly cash dividends on Wesco’s common stock. These items specify the dividend amount and relevant record and payment dates.
In addition, Wesco publishes news about collaborations and technology initiatives that affect its operations and customer offerings. Examples include partnerships to modernize finance processes and investments in platforms that support construction materials management and supply chain visibility. Together, these updates provide insight into how Wesco manages its global network of more than 700 sites in approximately 50 countries and serves customers across commercial, industrial, education, government, technology, telecommunications, and utility sectors.
Investors, analysts, and other stakeholders can use this news stream to follow Wesco’s operational developments, governance changes, capital allocation actions, and technology-driven initiatives over time.
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.
WESCO International, Inc. (NYSE: WCC) will host its first quarter 2021 earnings call on May 6 at 10:00 a.m. EDT. Interested parties can participate via US dial-in at 1-877-443-5356 or through international lines. The earnings call will also have a live audio webcast available on WESCO's Investor Relations website. Following the earnings call, replay access will be offered until May 13. WESCO, a leading provider of distribution and supply chain solutions, reported pro forma 2020 sales over $16 billion, bolstered by the acquisition of Anixter International.
The Board of Directors of WESCO International declared a cash dividend of $664.0625 per preferred share, payable on March 31, 2021. This applies to the 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock for the period of January 1, 2021, to March 31, 2021, with record date on March 15, 2021. WESCO, a leading distributor with over $16 billion in pro forma sales, operates in more than 50 countries, providing extensive supply chain and logistics services.
WESCO International, Inc. (NYSE: WCC) has successfully sold its legacy WESCO Datacom business in Canada to Guillevin International. This divestiture fulfills WESCO's obligations under a Consent Agreement with the Canadian Competition Bureau following its merger with Anixter International in June 2020. The net proceeds from the sale will be allocated to reduce WESCO's indebtedness. CEO John Engel expressed satisfaction with the completion of this transaction and emphasized the company's commitment to serving datacom customers in Canada.
WESCO International (NYSE: WCC) reports robust fourth quarter and full year 2020 results, driven by the strategic acquisition of Anixter. Net sales soared to $4.1 billion for Q4 2020, up 96.7% year-over-year, with 2020 annual sales reaching $12.3 billion, a 47.6% increase. Despite these gains, net income dropped to $5.6 million in Q4 2020 from $53.1 million in Q4 2019. The company anticipates 2021 net sales growth between 3-6% and adjusted EPS of $5.50 to $6.00. WESCO has reduced net debt by $389 million since the acquisition, aiming for enhanced operational efficiencies and market positioning.
WESCO International (NYSE: WCC) has sold its legacy WESCO Utility business in Canada to Rexel Canada, fulfilling part of its divestiture commitments following its merger with Anixter International. This transaction aligns with WESCO's agreement with the Canadian Competition Bureau and will generate net proceeds to pay down debt. WESCO's CEO, John Engel, expressed satisfaction with the deal and confirmed the company's ongoing commitment to serve utility customers in Canada through the legacy business acquired from Anixter.
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