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) 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.
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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.
The Board of Directors of Wesco International (NYSE: WCC) declared a cash dividend of $664.0625 per preferred share for the period January 1, 2022 to March 31, 2022. This amounts to $0.6640625 per depository share, payable on March 31, 2022, to holders of record by the close of business on March 15, 2022. Wesco, headquartered in Pittsburgh, is a FORTUNE 500® company with over $18 billion in annual sales and serves thousands of customers globally, including more than 90% of FORTUNE 100® companies.
WESCO International (WCC) reported record net sales of $4.9 billion for Q4 2021, marking a 17.5% year-over-year increase. The company achieved an operating profit of $220.3 million, with a gross margin of 20.8%, up 120 basis points YOY. For the full year, net sales reached $18.2 billion, primarily driven by the Anixter merger. Adjusted earnings per share rose to $3.17, up 160% YOY. The backlog increased by over 80% year-over-year, indicating strong demand. WESCO anticipates continued growth in 2022, with sales expected to increase by 5%-8%.
WESCO International, Inc. (NYSE: WCC) will host its fourth quarter and full-year 2021 earnings conference call on February 15, 2022, at 10:00 a.m. ET. Participants can access the live broadcast and presentation on the company's investor relations website. Additionally, WESCO will be partaking in the Raymond James' 2022 Institutional Investors Conference and the J.P. Morgan Industrials Conference in March. The press release highlights WESCO's significant presence as a leading distribution and logistics solutions provider, generating over $16 billion in pro forma sales in 2020.
The Board of Directors of WESCO International, Inc. (NYSE: WCC) has declared a cash dividend on the 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock. For the period from October 1, 2021, to December 31, 2021, the dividend amounts to $664.0625 per preferred share, or $0.6640625 per depository share. This payment is set for December 31, 2021, to shareholders on record by the close of business on December 15, 2021.
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