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Wesco International (WCC) delivers essential supply chain solutions across electrical, communications, and utility sectors through its global distribution network. This news hub provides investors and professionals with timely updates on corporate developments, strategic initiatives, and market positioning.
Track official announcements including quarterly earnings, strategic partnerships, and operational milestones. Our curated feed consolidates press releases and verified news about Wesco's three core segments: Electrical & Electronic Solutions, Communications & Security Infrastructure, and Utility & Broadband Services.
Discover updates on supply chain innovations, technology investments, and global expansion efforts without promotional bias. This resource serves analysts and stakeholders needing factual updates on WCC's role in industrial distribution and logistics optimization.
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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.
WESCO International, Inc. (NYSE: WCC) will hold its fourth quarter and full year 2020 earnings call on February 9, 2021, at 10:00 a.m. EST. Investors can access the live audio webcast and presentation slides on WESCO's Investor Relations website. Replay access will be available from February 9 to February 16, 2021. Additionally, WESCO will participate in the Raymond James & Associates 42nd Annual Institutional Investors Conference and the J.P. Morgan Industrials Conference in March 2021. The company's pro forma annual sales exceeded $17 billion in 2019, bolstered by the acquisition of Anixter International.
The Board of Directors of WESCO International (NYSE: WCC) has declared a cash dividend of $664.0625 per share on its 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock. This dividend is applicable for the period from October 1, 2020 to December 31, 2020 and will be paid on December 31, 2020 to shareholders on record as of December 15, 2020.
WESCO International, Inc. (NYSE: WCC) has appointed Mr. Akash Khurana as Executive Vice President and Chief Information and Digital Officer, effective November 9, 2020. Khurana, who has a strong background in digital transformation, previously served as Chief Information and Digital Officer at McDermott International, Inc. WESCO's Chairman, John J. Engel, praised Khurana's leadership skills, emphasizing his track record in driving sales and profit growth. This strategic move follows WESCO's acquisition of Anixter earlier in 2020, aimed at strengthening its executive team.
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