Wesco International (NYSE: WCC) raises 2026 outlook after record 2025 sales
Rhea-AI Filing Summary
Wesco International reported record 2025 results with full-year net sales of $23.5 billion, up 7.8% year over year, and fourth-quarter sales of $6.1 billion, up 10.3%. Growth was driven by strong demand in Communications & Security Solutions and Electrical & Electronic Solutions.
Data center revenue was a key driver, reaching about $4.3 billion in 2025, up roughly 50% and representing about 18% of total sales. Adjusted EBITDA for the year was $1.54 billion with a 6.5% margin, and adjusted diluted EPS rose to $12.91, up 5.6%.
Cash generation weakened as operating cash flow fell to $125 million and free cash flow to $53.8 million, mainly from higher receivables and inventory to support large projects. Year-end backlog increased 19%, and the company guides 2026 reported sales growth of 5–8%, adjusted EPS of $14.50–$16.50, free cash flow of $500–$800 million, and plans to raise its annual dividend over 10% to $2.00 per share.
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8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
FAQ
How did Wesco International (WCC) perform financially in 2025?
Wesco delivered record 2025 results with strong top-line growth. Net sales reached $23.5 billion, up 7.8% year over year, while adjusted EBITDA was $1.54 billion and adjusted diluted EPS rose to $12.91, highlighting resilient profitability despite margin pressure.
What drove Wesco International's 2025 sales growth, especially in data centers?
Data center demand was a major growth engine for Wesco in 2025. Total data center sales reached about $4.3 billion, up roughly 50% year over year and representing around 18% of company sales, supported by hyperscale projects and broader Communications & Security Solutions strength.
How did Wesco International's profitability and margins trend in 2025?
Profitability grew modestly while margins compressed slightly. Adjusted EBITDA was $1.54 billion with a 6.5% margin, down from 6.9% in 2024, and adjusted diluted EPS increased to $12.91, as higher volume offset lower gross margin and increased operating costs.
What happened to Wesco International's cash flow and leverage in 2025?
Cash flow weakened as working capital needs increased. Operating cash flow dropped to $125 million from $1.10 billion, and free cash flow fell to $53.8 million, mainly due to higher receivables and inventories tied to growth, while the financial leverage ratio rose to 3.4x.
What is Wesco International's outlook for 2026 sales and earnings?
Wesco expects continued growth and better margins in 2026. The company guides reported sales growth of 5–8%, an adjusted EBITDA margin between 6.6–7.0%, adjusted diluted EPS of $14.50–$16.50, and free cash flow in the $500–$800 million range.
Is Wesco International changing its dividend based on these results?
Yes, Wesco plans to increase its common stock dividend. The company intends to raise its annual common dividend by over 10% to $2.00 per share, reflecting confidence in its record backlog, data center exposure, and 2026 earnings and cash flow outlook.
How strong is Wesco International's backlog entering 2026?
Wesco enters 2026 with record backlog supporting future growth. Total company backlog was up 19% year over year at 2025 year-end, with particularly strong increases in Communications & Security Solutions, positioning the business for continued organic sales growth and operating leverage.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 10, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | |||||||||||||||
Suite 700 | |||||||||||||||||
| (Zip Code) | |||||||||||||||||
| (Address of principal executive offices) | |||||||||||||||||
(412 ) 454-2200
(Registrant's telephone number, including area code)
Not applicable.
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). | ||||||||||||||
| Emerging growth company | ||||||||||||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ | ||||||||||||||
Item 2.02 Results of Operations and Financial Condition.
The information in this Item 2.02 is being furnished and shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in this Item 2.02 shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.
On February 10, 2026, WESCO International, Inc. (the “Company”) issued a press release announcing its financial results for the fourth quarter and full year 2025. A copy of the press release is attached hereto as Exhibit 99.1.
Item 7.01 Regulation FD Disclosure.
The information in this Item 7.01 is being furnished and shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in this Item 7.01 shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.
A slide presentation to be used by executive management of the Company in connection with its discussions with investors regarding the Company's financial results for the fourth quarter and full year 2025 is included in Exhibit 99.2 to this report and is being furnished in accordance with Regulation FD of the Securities and Exchange Commission.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | ||||
| 99.1 | Press Release, dated February 10, 2026 | ||||
| 99.2 | Slide presentation for investors, dated February 10, 2026 | ||||
| 104 | Cover Page Interactive Date File (embedded within the Inline XBRL document) | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| WESCO International, Inc. | ||||||||
| (Registrant) | ||||||||
| February 10, 2026 | By: | /s/ David S. Schulz | ||||||
| (Date) | David S. Schulz | |||||||
| Executive Vice President and Chief Financial Officer | ||||||||
 | NEWS RELEASE | ||||
| WESCO International, Inc. / 225 West Station Square Drive, Suite 700 / Pittsburgh, PA 15219 | |||||
Wesco International Reports Fourth Quarter
and Full Year 2025 Results
•Record fourth quarter reported net sales of $6.1 billion, up 10% YOY
–Organic sales up 9% YOY
–Data center sales of $1.2 billion, up ~30% YOY
•Record full-year reported net sales of $23.5 billion, up 8% YOY
–Organic sales up 9% YOY
–Data center sales of $4.3 billion, up ~50% YOY
•Record total company backlog, up 19% YOY
•Full-year 2026 outlook of 5% to 8% reported sales growth, adjusted EBITDA margin of ~6.8% at the mid-point, adjusted diluted EPS of $14.50 to $16.50, and free cash flow of $500 - $800 million
•Plan to increase our annual common stock dividend by over 10% to $2.00 per share
PITTSBURGH, February 10, 2026 /PR Newswire/ -- Wesco International (NYSE: WCC), a leading provider of business-to-business distribution, logistics services and supply chain solutions, announces its results for the fourth quarter and full year 2025.
“We closed out 2025 with positive momentum and again outperformed the market with our leading portfolio of products, services and solutions. Record sales of $23.5 billion were up 8% and increased by double-digits in the second half. Backlog was up 19% to a record level at year end, highlighting the strength of our business, and providing another proof point that Wesco is benefiting from the secular growth trends of AI-driven data centers, increased power generation, and supply chain re-shoring,” said John Engel, Chairman, President and CEO.
Mr. Engel continued, “In the fourth quarter, CSS and EES delivered excellent results. CSS delivered 16% sales growth while expanding adjusted EBITDA margin 90 basis points and EES delivered 9% sales growth with adjusted EBITDA margin up 50 basis points. UBS continued to face ongoing sales and margin challenges with public power customers, while sales to investor owned utilities accelerated in the fourth quarter. Utility backlog increased over 20% at year end, providing a strong set-up for 2026. Adjusted EPS in the quarter was below our expectations, as the continued operating strength in our CSS and EES businesses was more than offset by lower sales and margin in UBS. Additionally, adjusted EPS was impacted to a larger degree by non-operating items, including updated tax positions.”
Mr. Engel continued, “Due to our strong fourth quarter sales, particularly when considering normal seasonality, we increased our investment in working capital which impacted our normal expectation of cash generation in the quarter. We expect to collect cash from our higher receivables balance during the first quarter. We expect much stronger cash generation in 2026 as we continue to make progress on our working capital management initiatives. In the near term, our capital allocation priorities remain focused on debt reduction and stock repurchases to offset annual equity award dilution. We also continue to invest in our tech enabled business transformation and manage an active M&A pipeline.”
Mr. Engel added, “We made excellent progress on our enterprise-wide digitalization efforts in 2025. We advanced our technology and capabilities build and have deployed our new technology stack in pilot locations in each of our three business units. The centerpiece of our new tech stack is a world-class data lake where we’re working to apply AI to improve the efficiency and effectiveness of our business. We were pleased to be recognized by Fortune in their inaugural AI ranking of Fortune 500 companies with a number 10 ranking. Once our digital transformation is completed, we will accelerate our earnings growth through even greater cross-sell, expand our margins through improved pricing and operating cost leverage, and increase our working capital turns by leveraging our single global IT instance.”
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Mr. Engel concluded, “Looking ahead in 2026, we expect to continue to outperform the market and deliver mid- to high-single-digit organic sales growth, strong operating leverage and margin expansion, double-digit EPS growth, and improved free cash flow generation. I am pleased to announce that we plan to increase our common stock dividend 10% again this year to $2.00 per share. As the market leader, and with positive momentum building, I’m confident that Wesco will continue to outperform our markets and deliver exceptional value to our customers and shareholders in 2026 and beyond. Finally, I continue to be very proud of our talented and dedicated Wesco team, whose relentless focus on serving customers, advancing our digital transformation agenda, and driving superior execution across our businesses is producing notable results, as we realize our vision of becoming the best tech-enabled supply chain solutions provider in the world.”
Key Financial Highlights
| Three Months Ended December 31 | Twelve Months Ended December 31 | |||||||||||||||||||
| ($ in millions except per share data) | 2025 Reported | 2024 Reported | Change vs prior year quarter | 2025 Reported | 2024 Reported | Change vs prior year | ||||||||||||||
| GAAP Results | ||||||||||||||||||||
| Net sales | $6,068.6 | $5,499.7 | 10.3% | $23,510.9 | $21,818.8 | 7.8% | ||||||||||||||
Selling, general, and administrative expenses | $910.0 | $817.3 | 11.3% | $3,541.4 | $3,306.2 | 7.1% | ||||||||||||||
Operating profit | $324.6 | $301.1 | 7.8% | $1,233.0 | $1,223.2 | 0.8% | ||||||||||||||
| Net income attributable to common stockholders | $165.2 | $151.0 | 9.4% | $645.8 | $660.2 | (2.2)% | ||||||||||||||
| Earnings per diluted share | $3.34 | $3.03 | 10.2% | $13.05 | $13.05 | —% | ||||||||||||||
| Operating cash flow | $71.9 | $276.6 | (74.0)% | $125.0 | $1,101.2 | (88.6)% | ||||||||||||||
| Effective tax rate | 26.4% | 20.8% | 560 basis points | 24.9% | 24.4% | 50 basis points | ||||||||||||||
| ($ in millions except per share data) | 2025 Adjusted | 2024 Adjusted | Change vs prior year quarter | 2025 Adjusted | 2024 Adjusted | Change vs prior year | ||||||||||||||
| Non-GAAP Results | ||||||||||||||||||||
| Organic sales growth (decline) | 9.2% | 2.4% | N/A | 8.6% | (0.6)% | N/A | ||||||||||||||
| Gross profit | $1,286.3 | $1,164.0 | 10.5% | $4,972.0 | $4,712.6 | 5.5% | ||||||||||||||
| Gross margin | 21.2% | 21.2% | 0 basis points | 21.1% | 21.6% | (50) basis points | ||||||||||||||
| Adjusted selling, general, and administrative expenses | $899.0 | $807.2 | 11.4% | $3,506.2 | $3,246.5 | 8.0% | ||||||||||||||
Adjusted EBITDA | $408.6 | $370.5 | 10.3% | $1,536.5 | $1,509.1 | 1.8% | ||||||||||||||
Adjusted EBITDA margin | 6.7% | 6.7% | 0 basis points | 6.5% | 6.9% | (40) basis points | ||||||||||||||
| Adjusted net income attributable to common stockholders | $167.9 | $157.4 | 6.7% | $638.9 | $618.6 | 3.3% | ||||||||||||||
| Adjusted earnings per diluted share | $3.40 | $3.16 | 7.6% | $12.91 | $12.23 | 5.6% | ||||||||||||||
| Free cash flow | $47.2 | $268.4 | (82.4)% | $53.8 | $1,045.2 | (94.9)% | ||||||||||||||
Net Sales
•On an organic basis, which removes the impact of the Ascent, LLC (“Ascent”) acquisition and differences in foreign exchange rates, sales for the fourth quarter of 2025 grew by 9.2%. The increase in organic sales reflects volume growth in all three segments (CSS, EES and UBS), as well as a favorable impact from changes in price. Backlog at the end of the fourth quarter of 2025 increased by 19% compared to the end of the fourth quarter of 2024.
•For 2025, organic sales, which removes the impact of the Wesco Integrated Supply (“WIS”) divestiture and Ascent acquisition, differences in foreign exchange rates, and the impact from the number of workdays, grew by 8.6%. The increase in organic sales reflects volume growth in the CSS and EES segments, as well as a favorable impact from changes in price.
Gross Profit and Gross Margin
•Gross margin for the fourth quarter of 2025 remained flat compared to the fourth quarter of 2024.
•The decrease in gross margin for the twelve months ended December 31, 2025 primarily reflects a decrease in gross margin across all three segments, most significantly in the UBS segment due to competitive pressures in the public power market, as well as in the EES and CSS segments driven by large project sales.
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Selling, General, and Administrative (“SG&A”) Expenses
•The increase in SG&A expenses for the fourth quarter of 2025 is driven by higher commissions and incentives, higher salaries, higher IT costs, higher transportation costs, and increased costs to operate our facilities. SG&A expenses for the fourth quarter of 2025 include $11.0 million of digital transformation costs, compared to $10.0 million of digital transformation and restructuring costs for the fourth quarter of 2024. Adjusted for these costs, SG&A expenses were 14.8% and 14.7% of net sales for the fourth quarter of 2025 and 2024, respectively.
•The increase in SG&A expenses for 2025 is driven by higher salaries, higher commissions and incentives, increased costs to operate our facilities, higher transportation costs, and higher IT costs, partially offset by the impact of the divestiture of the WIS business. SG&A expenses for 2025 include $35.2 million of digital transformation costs. SG&A expenses for 2024 include $37.0 million of digital transformation and restructuring costs, a $17.8 million loss on abandonment of assets and $4.9 million of excise taxes on excess pension plan assets. Adjusted for these costs, SG&A expenses were 14.9% of net sales for 2025 and 2024.
Adjusted EBITDA and Adjusted EBITDA Margin
•The increase in Adjusted EBITDA for the fourth quarter of 2025 primarily reflects an increase in net sales, partially offset by increases in cost of goods sold, related to large project sales with lower margins, and SG&A expenses as described above.
•The increase in Adjusted EBITDA for 2025 primarily reflects an increase in net sales, partially offset by increases in cost of goods sold, related to large project sales with lower margins, and SG&A expenses as described above.
Effective Tax Rate
•The provision for income taxes was $57.6 million for the fourth quarter of 2025 compared to $43.5 million for the fourth quarter of 2024, resulting in effective tax rates of 26.4% and 20.8%, respectively. The effective tax rate for the quarter ended December 31, 2025 was higher due to higher tax expense related to uncertain tax positions and an increase in valuation allowance against foreign tax credit deferred tax assets.
•The provision for income taxes was $213.4 million for 2025 compared to $231.6 million for the 2024, resulting in effective tax rates of 24.9% and 24.4%, respectively.
Adjusted Earnings Per Diluted Share
•The increase in adjusted earnings per diluted share in the fourth quarter of 2025 primarily reflects the favorable impact of the June 2025 redemption of the Company's 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock (the “Series A Preferred Stock”) and the corresponding decrease in preferred dividends, as well as higher adjusted EBITDA. The increase in adjusted earnings per diluted share was offset by a $23.5 million increase in interest expense primarily driven by the issuance of the 2033 Notes and an increase from adjustments for uncertain tax positions, partially offset by lower borrowings and lower interest rates on the Receivables Facility. There was also a positive impact from the reduction in outstanding common shares during the fourth quarter of 2025 as compared to the fourth quarter of 2024.
•The increase in adjusted earnings per diluted share in 2025 primarily reflects the favorable impact of the Series A Preferred Stock redemption and the corresponding decrease in preferred dividends. There was also a positive impact from the reduction in outstanding common shares during 2025 as compared to 2024.
Operating Cash Flow
•Net cash provided by operating activities for the fourth quarter of 2025 totaled $71.9 million compared to $276.6 million in the fourth quarter of 2024. The $204.7 million decrease is primarily driven by a $201.9 million impact from changes in accounts payable, due to the timing of payments to suppliers, as well as a $21.6 million impact from changes in trade accounts receivable, driven primarily by sales growth in all three segments.
•Net cash provided by operating activities for 2025 totaled $125.0 million, compared to $1,101.2 million for 2024. The $976.2 million decrease is primarily driven a $507.3 million impact from changes in trade accounts receivable and a $428.1 million impact from changes in inventories. The impact from trade accounts receivable was primarily due to sales growth in the CSS and EES segments, as well as the timing of receipts from customers as compared to the prior year. The impact from inventories was primarily due to an increase in volume related to growth in large projects as compared to the prior year. These decreases were partially offset by an increase in net income as adjusted for certain non-cash items.
Webcast and Teleconference Access
Wesco will conduct a webcast and teleconference to discuss the fourth quarter and full year 2025 earnings as described in this News Release on Tuesday, February 10, 2026, at 10:00 a.m. E.T. The call will be broadcast live over the internet and can be accessed from the Investor Relations page of the Company's website at https://investors.wesco.com. The call will be archived on this internet site for seven days.
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Wesco International (NYSE: WCC) builds, connects, powers and protects the world. Headquartered in Pittsburgh, Pennsylvania, Wesco is a FORTUNE 500® company with approximately $24 billion in annual sales in 2025 and a leading provider of business-to-business distribution, logistics services and supply chain solutions. Wesco offers a best-in-class product and services portfolio of Electrical and Electronic Solutions, Communications and Security Solutions, and Utility and Broadband Solutions. The Company employs approximately 21,000 people, partners with the industry’s premier suppliers, and serves thousands of customers around the world. With millions of products, end-to-end supply chain services, and significant digital capabilities, Wesco provides innovative solutions to meet customer needs across commercial and industrial businesses, technology companies, telecommunications providers, and utilities. Wesco operates more than 700 sites, including distribution centers, fulfillment centers, and sales offices in approximately 50 countries, providing a local presence for customers and a global network to serve multi-location businesses and global corporations.
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Forward-Looking Statements
All statements made herein that are not historical facts should be considered as "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. These statements include, but are not limited to, statements regarding business strategy, growth strategy, competitive strengths, productivity and profitability enhancement, competition, new product and service introductions, and liquidity and capital resources. Such statements can generally be identified by the use of words such as "anticipate," "plan," "believe," "estimate," "intend," "expect," "project," and similar words, phrases or expressions or future or conditional verbs such as "could," "may," "should," "will," and "would," although not all forward-looking statements contain such words. These forward-looking statements are based on current expectations and beliefs of Wesco's management, as well as assumptions made by, and information currently available to, Wesco's management, current market trends and market conditions and involve risks and uncertainties, many of which are outside of Wesco's and Wesco's management's control, and which may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, you should not place undue reliance on such statements.
Important factors that could cause actual results or events to differ materially from those presented or implied in the forward-looking statements include, among others, the failure to achieve the anticipated benefits of, and other risks associated with, acquisitions, joint ventures, divestitures and other corporate transactions; the inability to successfully integrate acquired businesses; the impact of increased interest rates or borrowing costs; fluctuations in currency exchange rates; evolving impacts from tariffs or other trade tensions between the U.S. and other countries (including implementation of new tariffs and retaliatory measures); failure to adequately protect Wesco's intellectual property or successfully defend against infringement claims; the inability to successfully deploy new technologies, digital products and information systems or to otherwise adapt to emerging technologies in the marketplace, such as those incorporating artificial intelligence (AI); risks relating to our use or reliance on AI; failure to execute on our efforts and programs related to environmental, social and governance (ESG) matters; unanticipated expenditures or other adverse developments related to compliance with new or stricter government policies, laws or regulations, including those relating to data privacy, cybersecurity, competition, sustainability and environmental protection; the inability to successfully develop, manage or implement new technology initiatives or business strategies, including with respect to the expansion of e-commerce or AI capabilities and other digital solutions and digitalization initiatives; disruption of information technology systems or operations; natural disasters (including as a result of climate change), health epidemics, pandemics and other outbreaks; supply chain disruptions; geopolitical conflicts and issues, such as the ongoing Middle East and Russia/Ukraine conflicts; the impact of changing and expanding export controls, sanctions, and data localization rules; the failure to manage the increased risks and impacts of cyber incidents or data breaches; and exacerbation of key materials shortages, inflationary cost pressures, material cost increases, demand volatility, and logistics and capacity constraints, any of which may have a material adverse effect on the Company's business, results of operations and financial condition. All such factors are difficult to predict and are beyond the Company's control. Additional factors that could cause results to differ materially from those described above can be found in Wesco's most recent Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission.
| Contact Information | |||||
| Investor Relations | Corporate Communications | ||||
| Scott Gaffner Senior Vice President, Investor Relations investorrelations@wescodist.com | Jennifer Sniderman Vice President, Corporate Communications 717-579-6603 | ||||
http://www.wesco.com
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WESCO INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in millions, except per share amounts)
(Unaudited)
| Three Months Ended | |||||||||||||||||
| December 31, 2025 | December 31, 2024 | ||||||||||||||||
| Net sales | $ | 6,068.6 | $ | 5,499.7 | |||||||||||||
| Cost of goods sold (excluding depreciation and amortization) | 4,782.3 | 78.8 | % | 4,335.7 | 78.8 | % | |||||||||||
| Selling, general and administrative expenses | 910.0 | 15.0 | % | 817.3 | 14.9 | % | |||||||||||
| Depreciation and amortization | 51.7 | 45.6 | |||||||||||||||
| Income from operations | 324.6 | 5.3 | % | 301.1 | 5.5 | % | |||||||||||
| Interest expense, net | 108.6 | 85.1 | |||||||||||||||
| Other (income) expense, net | (2.5) | 6.6 | |||||||||||||||
| Income before income taxes | 218.5 | 3.6 | % | 209.4 | 3.8 | % | |||||||||||
| Provision for income taxes | 57.6 | 43.5 | |||||||||||||||
| Net income | 160.9 | 2.7 | % | 165.9 | 3.0 | % | |||||||||||
| Less: Net income attributable to noncontrolling interests | 1.0 | 0.5 | |||||||||||||||
| Net income attributable to WESCO International, Inc. | 159.9 | 2.6 | % | 165.4 | 3.0 | % | |||||||||||
| Plus: Gain on redemption of Series A Preferred Stock | 5.3 | — | |||||||||||||||
| Less: Preferred stock dividends | — | 14.4 | |||||||||||||||
| Net income attributable to common stockholders | $ | 165.2 | 2.7 | % | $ | 151.0 | 2.7 | % | |||||||||
| Earnings per diluted share attributable to common stockholders | $ | 3.34 | $ | 3.03 | |||||||||||||
| Weighted-average common shares outstanding and common share equivalents used in computing earnings per diluted common share | 49.4 | 49.8 | |||||||||||||||
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WESCO INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in millions, except per share amounts)
(Unaudited)
| Twelve Months Ended | |||||||||||||||||
| December 31, 2025 | December 31, 2024 | ||||||||||||||||
| Net sales | $ | 23,510.9 | $ | 21,818.8 | |||||||||||||
| Cost of goods sold (excluding depreciation and amortization) | 18,538.9 | 78.9 | % | 17,106.2 | 78.4 | % | |||||||||||
| Selling, general and administrative expenses | 3,541.4 | 15.1 | % | 3,306.2 | 15.2 | % | |||||||||||
| Depreciation and amortization | 197.6 | 183.2 | |||||||||||||||
| Income from operations | 1,233.0 | 5.2 | % | 1,223.2 | 5.6 | % | |||||||||||
| Interest expense, net | 386.7 | 364.9 | |||||||||||||||
| Other income, net | (9.6) | (92.7) | |||||||||||||||
| Income before income taxes | 855.9 | 3.6 | % | 951.0 | 4.4 | % | |||||||||||
| Provision for income taxes | 213.4 | 231.6 | |||||||||||||||
| Net income | 642.5 | 2.7 | % | 719.4 | 3.3 | % | |||||||||||
| Less: Net income attributable to noncontrolling interests | 2.3 | 1.8 | |||||||||||||||
| Net income attributable to WESCO International, Inc. | 640.2 | 2.7 | % | 717.6 | 3.3 | % | |||||||||||
| Plus: Gain on redemption of Series A Preferred Stock | 32.9 | — | |||||||||||||||
| Less: Preferred stock dividends | 27.3 | 57.4 | |||||||||||||||
| Net income attributable to common stockholders | $ | 645.8 | 2.7 | % | $ | 660.2 | 3.0 | % | |||||||||
| Earnings per diluted share attributable to common stockholders | $ | 13.05 | $ | 13.05 | |||||||||||||
| Weighted-average common shares outstanding and common share equivalents used in computing earnings per diluted common share | 49.5 | 50.6 | |||||||||||||||
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WESCO INTERNATIONAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions)
(Unaudited)
| As of | |||||||||||
| December 31, 2025 | December 31, 2024 | ||||||||||
| Assets | |||||||||||
| Current Assets | |||||||||||
| Cash and cash equivalents | $ | 604.8 | $ | 702.6 | |||||||
| Trade accounts receivable, net | 4,069.6 | 3,454.4 | |||||||||
| Inventories | 4,008.8 | 3,501.7 | |||||||||
| Other current assets | 773.0 | 692.7 | |||||||||
| Total current assets | 9,456.2 | 8,351.4 | |||||||||
| Goodwill and intangible assets | 5,112.6 | 5,116.0 | |||||||||
| Other assets | 1,926.1 | 1,594.0 | |||||||||
| Total assets | $ | 16,494.9 | $ | 15,061.4 | |||||||
| Liabilities and Stockholders' Equity | |||||||||||
| Current Liabilities | |||||||||||
| Accounts payable | $ | 3,030.5 | $ | 2,670.6 | |||||||
| Short-term debt and current portion of long-term debt, net | 25.0 | 19.5 | |||||||||
| Other current liabilities | 1,241.3 | 1,113.9 | |||||||||
| Total current liabilities | 4,296.8 | 3,804.0 | |||||||||
| Long-term debt, net | 5,756.4 | 5,045.5 | |||||||||
| Other noncurrent liabilities | 1,415.3 | 1,246.4 | |||||||||
| Total liabilities | 11,468.5 | 10,095.9 | |||||||||
| Stockholders' Equity | |||||||||||
| Total stockholders' equity | 5,026.4 | 4,965.5 | |||||||||
| Total liabilities and stockholders' equity | $ | 16,494.9 | $ | 15,061.4 | |||||||
8
WESCO INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
(Unaudited)
| Twelve Months Ended | |||||||||||
| December 31, 2025 | December 31, 2024 | ||||||||||
| Operating Activities: | |||||||||||
| Net income | $ | 642.5 | $ | 719.4 | |||||||
| Add back (deduct): | |||||||||||
| Depreciation and amortization | 197.6 | 183.2 | |||||||||
| Gain on divestiture | — | (122.2) | |||||||||
| Loss on abandonment of assets | — | 17.8 | |||||||||
| Deferred income taxes | 7.4 | (39.9) | |||||||||
| Change in trade receivables, net | (558.0) | (50.7) | |||||||||
| Change in inventories | (446.1) | (18.0) | |||||||||
| Change in accounts payable | 323.7 | 329.5 | |||||||||
| Other, net | (42.1) | 82.1 | |||||||||
Net cash provided by operating activities | 125.0 | 1,101.2 | |||||||||
| Investing Activities: | |||||||||||
| Capital expenditures | (99.8) | (94.7) | |||||||||
| Acquisition payments, net of cash acquired | (36.1) | (221.3) | |||||||||
| Proceeds from divestiture, net of cash transferred | — | 354.9 | |||||||||
| Other, net | (4.8) | 1.5 | |||||||||
| Net cash (used in) provided by investing activities | (140.7) | 40.4 | |||||||||
| Financing Activities: | |||||||||||
Debt borrowings (repayments), net(1) | 705.5 | (278.3) | |||||||||
| Payments for taxes related to net-share settlement of equity awards | (37.2) | (30.9) | |||||||||
| Repurchases of common stock | (75.0) | (425.0) | |||||||||
| Redemption of preferred stock | (540.3) | — | |||||||||
| Payment of common stock dividends | (88.4) | (81.5) | |||||||||
| Payment of preferred stock dividends | (27.3) | (57.4) | |||||||||
| Other, net | (30.0) | (55.2) | |||||||||
| Net cash used in financing activities | (92.7) | (928.3) | |||||||||
| Effect of exchange rate changes on cash and cash equivalents | 10.6 | (34.8) | |||||||||
| Net change in cash and cash equivalents | (97.8) | 178.5 | |||||||||
| Cash and cash equivalents at the beginning of the period | 702.6 | 524.1 | |||||||||
| Cash and cash equivalents at the end of the period | $ | 604.8 | $ | 702.6 | |||||||
(1) The year ended December 31, 2025 includes the issuance of the Company's $800.0 million aggregate principal amount of 6.375% Senior Notes due 2033 (the “2033 Notes”). The proceeds from the issuance of the 2033 Notes were used for the redemption of the Company's Series A Preferred Stock in June 2025 and to repay a portion of the amounts outstanding under the Revolving Credit Facility. The year ended December 31, 2024 includes the issuance of the Company's $900.0 million aggregate principal amount of 6.375% Senior Notes due 2029 (the “2029 Notes”) and the Company's $850.0 million aggregate principal amount of 6.625% Senior Notes due 2032 (the “2032 Notes” and, together with the 2029 Notes, the "2029 and 2032 Notes"). The proceeds from the issuance of the 2029 and 2032 Notes were used for the redemption of the Company's $1,500.0 million aggregate principal amount of 7.125% Senior Notes due 2025 (the “2025 Notes”) and for other corporate purposes.
9
NON-GAAP FINANCIAL MEASURES
In addition to the results provided in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) above, this earnings release includes certain non-GAAP financial measures. These financial measures include organic sales growth, gross profit, gross margin, earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted EBITDA, adjusted EBITDA margin, financial leverage, free cash flow, adjusted selling, general and administrative expenses, adjusted income from operations, adjusted operating margin, adjusted other non-operating expense (income), adjusted provision for income taxes, adjusted income before income taxes, adjusted net income, adjusted net income attributable to WESCO International, Inc., adjusted net income attributable to common stockholders, and adjusted earnings per diluted share. The Company believes that these non-GAAP measures are useful to investors as they provide a better understanding of our financial condition and results of operations on a comparable basis. Additionally, certain non-GAAP measures either focus on or exclude items impacting comparability of results such as digital transformation costs, restructuring costs, cloud computing arrangement amortization, pension settlement cost and excise taxes on excess pension plan assets related to the settlement of the Anixter Inc. Pension Plan, loss on abandonment of assets, the gain recognized on the divestiture of the WIS business, the loss on termination of business arrangement, and the related income tax effects, as well as the gain on the redemption of the Series A Preferred Stock, allowing investors to more easily compare the Company's financial performance from period to period. Management does not use these non-GAAP financial measures for any purpose other than the reasons stated above.
10
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts)
(Unaudited)
Organic Sales Growth by Segment - Three Months Ended:
| Three Months Ended | Growth/(Decline) | ||||||||||||||||||||||||||||||||||||||||
| December 31, 2025 | December 31, 2024 | Reported Sales | Acquisition | Foreign Exchange | Workday | Organic Sales | |||||||||||||||||||||||||||||||||||
EES(1) | $ | 2,272.9 | $ | 2,082.5 | 9.1% | — | % | 0.3 | % | — | % | 8.8 | % | ||||||||||||||||||||||||||||
CSS(1) | 2,424.7 | 2,087.1 | 16.2% | 1.7 | % | 1.0 | % | — | % | 13.5 | % | ||||||||||||||||||||||||||||||
| UBS | 1,371.0 | 1,330.1 | 3.1% | — | % | — | % | — | % | 3.1 | % | ||||||||||||||||||||||||||||||
| Total net sales | $ | 6,068.6 | $ | 5,499.7 | 10.3% | 0.6 | % | 0.5 | % | — | % | 9.2 | % | ||||||||||||||||||||||||||||
(1) In the first quarter of 2025, a portion of the EES reportable segment was moved to the CSS reportable segment as a result of operational realignment. As a result, the reportable segment information for the three months ended December 31, 2024 has been recast to conform to the current year presentation. The recast does not impact previously report condensed consolidated results.
Organic Sales Growth by Segment - Twelve Months Ended:
| Twelve Months Ended | Growth/(Decline) | ||||||||||||||||||||||||||||||||||||||||
| December 31, 2025 | December 31, 2024 | Reported Sales | Acquisition/Divestiture | Foreign Exchange | Workday | Organic Sales | |||||||||||||||||||||||||||||||||||
EES(1) | $ | 8,955.5 | $ | 8,391.7 | 6.7% | — | % | (0.4) | % | (0.4) | % | 7.5 | % | ||||||||||||||||||||||||||||
CSS(1) | 9,101.0 | 7,692.1 | 18.3% | 1.9 | % | 0.1 | % | (0.4) | % | 16.7 | % | ||||||||||||||||||||||||||||||
| UBS | 5,454.4 | 5,735.0 | (4.9)% | (3.3) | % | (0.2) | % | (0.4) | % | (1.0) | % | ||||||||||||||||||||||||||||||
| Total net sales | $ | 23,510.9 | $ | 21,818.8 | 7.8% | (0.2) | % | (0.2) | % | (0.4) | % | 8.6 | % | ||||||||||||||||||||||||||||
(1) In the first quarter of 2025, a portion of the EES reportable segment was moved to the CSS reportable segment as a result of operational realignment. As a result, the reportable segment information for the year ended December 31, 2024 has been recast to conform to the current year presentation. The recast does not impact previously report condensed consolidated results.
Note: Organic sales growth is a non-GAAP financial measure of sales performance. Organic sales growth is calculated by deducting the percentage impact from acquisitions and divestitures for one year following the respective transaction, fluctuations in foreign exchange rates and number of workdays from the reported percentage change in consolidated net sales. Workday impact represents the change in the number of operating days period-over-period after adjusting for weekends and public holidays in the United States. The fourth quarter of 2025 had the same number of workdays as the fourth quarter of 2024, and 2025 had one less workday compared to 2024.
11
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts)
(Unaudited)
| Three Months Ended | Twelve Months Ended | ||||||||||||||||||||||
| Gross Profit: | December 31, 2025 | December 31, 2024 | December 31, 2025 | December 31, 2024 | |||||||||||||||||||
| Net sales | $ | 6,068.6 | $ | 5,499.7 | $ | 23,510.9 | $ | 21,818.8 | |||||||||||||||
| Cost of goods sold (excluding depreciation and amortization) | 4,782.3 | 4,335.7 | 18,538.9 | 17,106.2 | |||||||||||||||||||
| Gross profit | $ | 1,286.3 | $ | 1,164.0 | $ | 4,972.0 | $ | 4,712.6 | |||||||||||||||
| Gross margin | 21.2 | % | 21.2 | % | 21.1 | % | 21.6 | % | |||||||||||||||
Note: Gross profit is a financial measure commonly used in the distribution industry. Gross profit is calculated by deducting cost of goods sold, excluding depreciation and amortization, from net sales. Gross margin is calculated by dividing gross profit by net sales.
12
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts)
(Unaudited)
| Three Months Ended | Twelve Months Ended | ||||||||||||||||||||||
| Adjusted SG&A Expenses: | December 31, 2025 | December 31, 2024 | December 31, 2025 | December 31, 2024 | |||||||||||||||||||
| Selling, general and administrative expenses | $ | 910.0 | $ | 817.3 | $ | 3,541.4 | $ | 3,306.2 | |||||||||||||||
Digital transformation costs(1) | (11.0) | (7.4) | (35.2) | (24.9) | |||||||||||||||||||
Restructuring costs(2) | — | (2.6) | — | (12.1) | |||||||||||||||||||
Loss on abandonment of assets(3) | — | — | — | (17.8) | |||||||||||||||||||
Excise taxes on excess pension plan assets(4) | — | (0.1) | — | (4.9) | |||||||||||||||||||
| Adjusted selling, general and administrative expenses | $ | 899.0 | $ | 807.2 | $ | 3,506.2 | $ | 3,246.5 | |||||||||||||||
| % of net sales | 14.8 | % | 14.7 | % | 14.9 | % | 14.9 | % | |||||||||||||||
| Adjusted Income from Operations: | |||||||||||||||||||||||
| Income from operations | $ | 324.6 | $ | 301.1 | $ | 1,233.0 | $ | 1,223.2 | |||||||||||||||
Digital transformation costs(1) | 11.0 | 7.4 | 35.2 | 24.9 | |||||||||||||||||||
Restructuring costs(2) | — | 2.6 | — | 12.1 | |||||||||||||||||||
Loss on abandonment of assets(3) | — | — | — | 17.8 | |||||||||||||||||||
Excise taxes on excess pension plan assets(4) | — | 0.1 | — | 4.9 | |||||||||||||||||||
| Adjusted income from operations | $ | 335.6 | $ | 311.2 | $ | 1,268.2 | $ | 1,282.9 | |||||||||||||||
| Adjusted income from operations margin % | 5.5 | % | 5.7 | % | 5.4 | % | 5.9 | % | |||||||||||||||
| Adjusted Other (Income) Expense, net: | |||||||||||||||||||||||
| Other (income) expense, net | $ | (2.5) | $ | 6.6 | $ | (9.6) | $ | (92.7) | |||||||||||||||
Loss on termination of business arrangement(5) | — | 0.2 | (0.3) | (3.6) | |||||||||||||||||||
Pension settlement cost(6) | — | 0.8 | — | (2.5) | |||||||||||||||||||
| Gain on divestiture | — | — | — | 122.2 | |||||||||||||||||||
| Adjusted other (income) expense, net | $ | (2.5) | $ | 7.6 | $ | (9.9) | $ | 23.4 | |||||||||||||||
| Adjusted Provision for Income Taxes: | |||||||||||||||||||||||
| Provision for income taxes | $ | 57.6 | $ | 43.5 | $ | 213.4 | $ | 231.6 | |||||||||||||||
Income tax effect of adjustments to income from operations and other (income) expense, net(7) | 3.0 | 2.7 | 9.5 | (14.8) | |||||||||||||||||||
| Adjusted provision for income taxes | $ | 60.6 | $ | 46.2 | $ | 222.9 | $ | 216.8 | |||||||||||||||
(1) Digital transformation costs include costs associated with certain digital transformation initiatives.
(2) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan.
(3) Loss on abandonment of assets represents the write-off of certain capitalized cloud computing arrangement implementation costs relating to a third-party developed operations management software product in favor of an application with functionality that better suits the Company’s operations.
(4) Excise taxes on excess pension plan assets represent the excise taxes applicable to the excess pension plan assets following the final settlement of the Company's U.S. pension plan.
(5) Loss on termination of business arrangement represents the loss recognized as a result of management’s decision to terminate a business arrangement with a third party.
(6) Pension settlement cost represents expense related to the settlement of the Company’s U.S. pension plan.
(7) The adjustments to income from operations and other (income) expense, net have been tax effected at rates of 27.1% and 26.6% for the three and twelve months ended December 31, 2025, respectively, and 29.7% and 26.2% for the three and twelve months ended December 31, 2024, respectively.
13
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts)
(Unaudited)
| Three Months Ended | Twelve Months Ended | ||||||||||||||||||||||
| December 31, 2025 | December 31, 2024 | December 31, 2025 | December 31, 2024 | ||||||||||||||||||||
| Adjusted Net Income Attributable to Common Stockholders: | |||||||||||||||||||||||
| Net income attributable to common stockholders | $ | 165.2 | $ | 151.0 | $ | 645.8 | $ | 660.2 | |||||||||||||||
Digital transformation costs(1) | 11.0 | 7.4 | 35.2 | 24.9 | |||||||||||||||||||
Restructuring costs(2) | — | 2.6 | — | 12.1 | |||||||||||||||||||
Loss on abandonment of assets(3) | — | — | — | 17.8 | |||||||||||||||||||
Excise taxes on excess pension plan assets(4) | — | 0.1 | — | 4.9 | |||||||||||||||||||
| Gain on divestiture | — | — | — | (122.2) | |||||||||||||||||||
Loss on termination of business arrangement(5) | — | (0.2) | 0.3 | 3.6 | |||||||||||||||||||
Pension settlement cost(6) | — | (0.8) | — | 2.5 | |||||||||||||||||||
Income tax effect of adjustments to income from operations and other (income) expense, net(7) | (3.0) | (2.7) | (9.5) | 14.8 | |||||||||||||||||||
| Gain on redemption of Series A Preferred Stock | (5.3) | — | (32.9) | — | |||||||||||||||||||
| Adjusted net income attributable to common stockholders | $ | 167.9 | $ | 157.4 | $ | 638.9 | $ | 618.6 | |||||||||||||||
(1) Digital transformation costs include costs associated with certain digital transformation initiatives.
(2) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan.
(3) Loss on abandonment of assets represents the write-off of certain capitalized cloud computing arrangement implementation costs relating to a third-party developed operations management software product in favor of an application with functionality that better suits the Company’s operations.
(4) Excise taxes on excess pension plan assets represent the excise taxes applicable to the excess pension plan assets following the final settlement of the Company's U.S. pension plan.
(5) Loss on termination of business arrangement represents the loss recognized as a result of management's decision to terminate a business arrangement with a third party.
(6) Pension settlement cost represents expense related to the final settlement of the Company's U.S. pension plan. Reduction to pension settlement cost during the three months ended December 31, 2024 represents income as a result of the finalization of the liabilities transferred as part of the settlement of the Company's U.S. pension plan.
(7) The adjustments to income from operations and other (income) expense, net have been tax effected at rates of 27.1% and 26.6% for the three and twelve months ended December 31, 2025, respectively, and 29.7% and 26.2% for the three and twelve months ended December 31, 2024, respectively.
14
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts)
(Unaudited)
| Three Months Ended | Twelve Months Ended | ||||||||||||||||||||||
| Adjusted Earnings per Diluted Share: | December 31, 2025 | December 31, 2024 | December 31, 2025 | December 31, 2024 | |||||||||||||||||||
| Adjusted income from operations | $ | 335.6 | $ | 311.2 | $ | 1,268.2 | $ | 1,282.9 | |||||||||||||||
| Interest expense, net | 108.6 | 85.1 | 386.7 | 364.9 | |||||||||||||||||||
| Adjusted other (income) expense, net | (2.5) | 7.6 | (9.9) | 23.4 | |||||||||||||||||||
| Adjusted income before income taxes | 229.5 | 218.5 | 891.4 | 894.6 | |||||||||||||||||||
| Adjusted provision for income taxes | 60.6 | 46.2 | 222.9 | 216.8 | |||||||||||||||||||
| Adjusted net income | 168.9 | 172.3 | 668.5 | 677.8 | |||||||||||||||||||
| Net income attributable to noncontrolling interests | 1.0 | 0.5 | 2.3 | 1.8 | |||||||||||||||||||
| Adjusted net income attributable to WESCO International, Inc. | 167.9 | 171.8 | 666.2 | 676.0 | |||||||||||||||||||
| Preferred stock dividends | — | 14.4 | 27.3 | 57.4 | |||||||||||||||||||
| Adjusted net income attributable to common stockholders | $ | 167.9 | $ | 157.4 | $ | 638.9 | $ | 618.6 | |||||||||||||||
| Diluted shares | 49.4 | 49.8 | 49.5 | 50.6 | |||||||||||||||||||
| Adjusted earnings per diluted share | $ | 3.40 | $ | 3.16 | $ | 12.91 | $ | 12.23 | |||||||||||||||
Note: For the three and twelve months ended December 31, 2025, SG&A expenses, income from operations, other non-operating expense (income), the provision for income taxes, net income attributable to common stockholders and earnings per diluted share have been adjusted to exclude digital transformation costs, restructuring costs, the loss on termination of business arrangement, and the related income tax effects, and the gain on redemption of the Company's Series A Preferred Stock. For the three and twelve months ended December 31, 2024, SG&A expenses, income from operations, other non-operating (income) expense, the provision for income taxes, net income attributable to common stockholders, and earnings per diluted share have been adjusted to exclude digital transformation costs, the loss on abandonment of assets, restructuring costs, excise taxes on excess pension plan assets, the gain recognized on the divestiture of the WIS business, the loss on termination of business arrangement, pension settlement cost, and the related income tax effects. These non-GAAP financial measures provide a better understanding of our financial results on a comparable basis.
15
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts)
(Unaudited)
| Three Months Ended December 31, 2025 | ||||||||||||||||||||||||||||||||
| EBITDA and Adjusted EBITDA by Segment: | EES | CSS | UBS | Corporate | Total | |||||||||||||||||||||||||||
| Net income attributable to common stockholders | $ | 176.0 | $ | 168.1 | $ | 122.3 | $ | (301.2) | $ | 165.2 | ||||||||||||||||||||||
| Net income (loss) attributable to noncontrolling interests | 0.1 | 1.0 | — | (0.1) | 1.0 | |||||||||||||||||||||||||||
| Gain on redemption of Series A Preferred Stock | — | — | — | (5.3) | (5.3) | |||||||||||||||||||||||||||
Provision for income taxes(1) | — | — | — | 57.6 | 57.6 | |||||||||||||||||||||||||||
Interest expense, net(1) | — | — | — | 108.6 | 108.6 | |||||||||||||||||||||||||||
| Depreciation and amortization | 13.3 | 20.2 | 9.4 | 8.8 | 51.7 | |||||||||||||||||||||||||||
| EBITDA | $ | 189.4 | $ | 189.3 | $ | 131.7 | $ | (131.6) | $ | 378.8 | ||||||||||||||||||||||
| Other expense (income), net | 3.3 | 30.7 | — | (36.5) | (2.5) | |||||||||||||||||||||||||||
| Stock-based compensation expense | 1.0 | 1.3 | 0.4 | 8.5 | 11.2 | |||||||||||||||||||||||||||
Digital transformation costs(2) | — | — | — | 11.0 | 11.0 | |||||||||||||||||||||||||||
Cloud computing arrangement amortization(3) | — | — | — | 10.1 | 10.1 | |||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 193.7 | $ | 221.3 | $ | 132.1 | $ | (138.5) | $ | 408.6 | ||||||||||||||||||||||
| Adjusted EBITDA margin % | 8.5 | % | 9.1 | % | 9.6 | % | 6.7 | % | ||||||||||||||||||||||||
(1) The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions. | ||||||||||||||||||||||||||||||||
(2) Digital transformation costs include costs associated with certain digital transformation initiatives. | ||||||||||||||||||||||||||||||||
(3) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. | ||||||||||||||||||||||||||||||||
| Three Months Ended December 31, 2024 | ||||||||||||||||||||||||||||||||
| EBITDA and Adjusted EBITDA by Segment: | EES(1) | CSS(1) | UBS | Corporate | Total | |||||||||||||||||||||||||||
| Net income attributable to common stockholders | $ | 157.9 | $ | 130.9 | $ | 135.3 | $ | (273.1) | $ | 151.0 | ||||||||||||||||||||||
Net income (loss) attributable to noncontrolling interests | 0.2 | 0.4 | — | (0.1) | 0.5 | |||||||||||||||||||||||||||
| Preferred stock dividends | — | — | — | 14.4 | 14.4 | |||||||||||||||||||||||||||
Provision for income taxes(2) | — | — | — | 43.5 | 43.5 | |||||||||||||||||||||||||||
Interest expense, net(2) | — | — | — | 85.1 | 85.1 | |||||||||||||||||||||||||||
| Depreciation and amortization | 11.8 | 17.7 | 7.2 | 8.9 | 45.6 | |||||||||||||||||||||||||||
| EBITDA | $ | 169.9 | $ | 149.0 | $ | 142.5 | $ | (121.3) | $ | 340.1 | ||||||||||||||||||||||
| Other (income) expense, net | (4.6) | 21.2 | 0.8 | (10.8) | 6.6 | |||||||||||||||||||||||||||
| Stock-based compensation expense | 1.1 | 1.6 | 0.8 | 5.8 | 9.3 | |||||||||||||||||||||||||||
Digital transformation costs(3) | — | — | — | 7.4 | 7.4 | |||||||||||||||||||||||||||
Cloud computing arrangement amortization(4) | — | — | — | 4.4 | 4.4 | |||||||||||||||||||||||||||
Restructuring costs(5) | — | — | — | 2.6 | 2.6 | |||||||||||||||||||||||||||
Excise taxes on excess pension plan assets (6) | — | — | — | 0.1 | 0.1 | |||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 166.4 | $ | 171.8 | $ | 144.1 | $ | (111.8) | $ | 370.5 | ||||||||||||||||||||||
| Adjusted EBITDA margin % | 8.0 | % | 8.2 | % | 10.8 | % | 6.7 | % | ||||||||||||||||||||||||
(1) In the first quarter of 2025, a portion of the EES reportable segment was moved to the CSS reportable segment as a result of operational realignment. As a result, the reportable segment financial information for the three months ended December 31, 2024 has been recast to conform to the current year presentation. The recast does not impact previously reported condensed consolidated results. | ||||||||||||||||||||||||||||||||
(2) The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions. | ||||||||||||||||||||||||||||||||
(3) Digital transformation costs include costs associated with certain digital transformation initiatives. | ||||||||||||||||||||||||||||||||
(4) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. | ||||||||||||||||||||||||||||||||
(5) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan. | ||||||||||||||||||||||||||||||||
(6) Excise taxes on excess pension plan assets represent the excise taxes applicable to the excess pension plan assets following the final settlement of the Company's U.S. pension plan. | ||||||||||||||||||||||||||||||||
16
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts)
(Unaudited)
Note: EBITDA, Adjusted EBITDA and Adjusted EBITDA margin % are non-GAAP financial measures that provide indicators of the Company's performance and its ability to meet debt service requirements. For the three months ended December 31, 2025, Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization before other non-operating expenses (income), non-cash stock-based compensation expense, digital transformation costs, and cloud computing arrangement amortization. For the three months ended December 31, 2024, Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization before other non-operating expenses (income), non-cash stock-based compensation expense, digital transformation costs, cloud computing arrangement amortization, restructuring, and excise taxes on excess pension plan assets represent the excise taxes applicable to the excess pension plan assets following the final settlement of the Company's U.S. pension plan.
17
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts)
(Unaudited)
| Year Ended December 31, 2025 | ||||||||||||||||||||||||||||||||
| EBITDA and Adjusted EBITDA by Segment: | EES | CSS | UBS | Corporate | Total | |||||||||||||||||||||||||||
| Net income attributable to common stockholders | $ | 646.5 | $ | 649.1 | $ | 531.0 | $ | (1,180.8) | $ | 645.8 | ||||||||||||||||||||||
| Net income (loss) attributable to noncontrolling interests | 0.5 | 2.9 | — | (1.1) | 2.3 | |||||||||||||||||||||||||||
| Gain on redemption of Series A Preferred Stock | — | — | — | (32.9) | (32.9) | |||||||||||||||||||||||||||
| Preferred stock dividends | — | — | — | 27.3 | 27.3 | |||||||||||||||||||||||||||
Provision for income taxes(1) | — | — | — | 213.4 | 213.4 | |||||||||||||||||||||||||||
Interest expense, net(1) | — | — | — | 386.7 | 386.7 | |||||||||||||||||||||||||||
| Depreciation and amortization | 50.5 | 77.7 | 32.6 | 36.8 | 197.6 | |||||||||||||||||||||||||||
| EBITDA | $ | 697.5 | $ | 729.7 | $ | 563.6 | $ | (550.6) | $ | 1,440.2 | ||||||||||||||||||||||
| Other expense (income), net | 16.0 | 64.4 | (2.6) | (87.4) | (9.6) | |||||||||||||||||||||||||||
| Stock-based compensation expense | 4.1 | 5.3 | 1.8 | 29.3 | 40.5 | |||||||||||||||||||||||||||
Digital transformation costs(2) | — | — | — | 35.2 | 35.2 | |||||||||||||||||||||||||||
Cloud computing arrangement amortization(3) | — | — | — | 30.2 | 30.2 | |||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 717.6 | $ | 799.4 | $ | 562.8 | $ | (543.3) | $ | 1,536.5 | ||||||||||||||||||||||
| Adjusted EBITDA margin % | 8.0 | % | 8.8 | % | 10.3 | % | 6.5 | % | ||||||||||||||||||||||||
(1) The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions. | ||||||||||||||||||||||||||||||||
(2) Digital transformation costs include costs associated with certain digital transformation initiatives. | ||||||||||||||||||||||||||||||||
(3) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. | ||||||||||||||||||||||||||||||||
| Year Ended December 31, 2024 | ||||||||||||||||||||||||||||||||
| EBITDA and Adjusted EBITDA by Segment: | EES(1) | CSS(1) | UBS | Corporate | Total | |||||||||||||||||||||||||||
| Net income attributable to common stockholders | $ | 641.0 | $ | 496.8 | $ | 733.0 | $ | (1,210.6) | $ | 660.2 | ||||||||||||||||||||||
| Net (loss) income attributable to noncontrolling interests | (1.1) | 2.3 | — | 0.6 | 1.8 | |||||||||||||||||||||||||||
| Preferred stock dividends | — | — | — | 57.4 | 57.4 | |||||||||||||||||||||||||||
Provision for income taxes(2) | — | — | — | 231.6 | 231.6 | |||||||||||||||||||||||||||
Interest expense, net(2) | — | — | — | 364.9 | 364.9 | |||||||||||||||||||||||||||
| Depreciation and amortization | 46.4 | 71.9 | 28.5 | 36.4 | 183.2 | |||||||||||||||||||||||||||
| EBITDA | $ | 686.3 | $ | 571.0 | $ | 761.5 | $ | (519.7) | $ | 1,499.1 | ||||||||||||||||||||||
Other expense (income), net(3) | 9.1 | 61.2 | (121.2) | (41.8) | (92.7) | |||||||||||||||||||||||||||
| Stock-based compensation expense | 4.4 | 6.6 | 3.1 | 14.8 | 28.9 | |||||||||||||||||||||||||||
Digital transformation costs(4) | — | — | — | 24.9 | 24.9 | |||||||||||||||||||||||||||
Loss on abandonment of assets(5) | — | — | — | 17.8 | 17.8 | |||||||||||||||||||||||||||
Cloud computing arrangement amortization(6) | — | — | — | 14.1 | 14.1 | |||||||||||||||||||||||||||
Restructuring costs(7) | — | — | — | 12.1 | 12.1 | |||||||||||||||||||||||||||
Excise taxes on excess pension plan assets(8) | — | — | — | 4.9 | 4.9 | |||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 699.8 | $ | 638.8 | $ | 643.4 | $ | (472.9) | $ | 1,509.1 | ||||||||||||||||||||||
| Adjusted EBITDA margin % | 8.3 | % | 8.3 | % | 11.2 | % | 6.9 | % | ||||||||||||||||||||||||
(1) In the first quarter of 2025, a portion of the EES reportable segment was moved to the CSS reportable segment as a result of operational realignment. As a result, the reportable segment financial information for the year ended December 31, 2024 has been recast to conform to the current year presentation. The recast does not impact previously reported condensed consolidated results. | ||||||||||||||||||||||||||||||||
(2) The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions. | ||||||||||||||||||||||||||||||||
(3) Other income for the UBS segment includes the gain on the divestiture of the WIS business. | ||||||||||||||||||||||||||||||||
(4) Digital transformation costs include costs associated with certain digital transformation initiatives. | ||||||||||||||||||||||||||||||||
(5) Loss on abandonment of assets represents the write-off of certain capitalized cloud computing arrangement implementation costs relating to a third-party developed operations management software product in favor of an application with functionality that better suits the Company’s operation. | ||||||||||||||||||||||||||||||||
(6) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. | ||||||||||||||||||||||||||||||||
(7) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan. | ||||||||||||||||||||||||||||||||
(8) Excise taxes on excess pension plan assets represent the excise taxes applicable to the excess pension plan assets following the final settlement of the Company's U.S. pension plan. | ||||||||||||||||||||||||||||||||
18
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts)
(Unaudited)
Note: EBITDA, Adjusted EBITDA and Adjusted EBITDA margin % are non-GAAP financial measures that provide indicators of the Company's performance and its ability to meet debt service requirements. For the year ended December 31, 2025, Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization before other non-operating expenses (income), non-cash stock-based compensation expense, digital transformation costs, cloud computing arrangement amortization and restructuring costs. For the year ended December 31, 2024, Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization before other non-operating expenses (income), non-cash stock-based compensation expense, digital transformation costs, loss on abandonment of assets, cloud computing arrangement amortization, restructuring costs and excise taxes on excess pension plan assets related to the final settlement of the Anixter Inc. Pension Plan. Adjusted EBITDA margin % is calculated by dividing Adjusted EBITDA by net sales.
19
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts)
(Unaudited)
| Twelve months ended | |||||||||||
| Financial Leverage: | December 31, 2025 | December 31, 2024 | |||||||||
| Net income attributable to common stockholders | $ | 645.8 | $ | 660.2 | |||||||
| Net income attributable to noncontrolling interests | 2.3 | 1.8 | |||||||||
| Gain on redemption of Series A Preferred Stock | (32.9) | — | |||||||||
| Preferred stock dividends | 27.3 | 57.4 | |||||||||
| Provision for income taxes | 213.4 | 231.6 | |||||||||
| Interest expense, net | 386.7 | 364.9 | |||||||||
| Depreciation and amortization | 197.6 | 183.2 | |||||||||
| EBITDA | $ | 1,440.2 | $ | 1,499.1 | |||||||
| Other income, net | (9.6) | (92.7) | |||||||||
| Stock-based compensation expense | 40.5 | 28.9 | |||||||||
Digital transformation costs(1) | 35.2 | 24.9 | |||||||||
Cloud computing arrangement amortization(2) | 30.2 | 14.1 | |||||||||
Restructuring costs(3) | — | 12.1 | |||||||||
Loss on abandonment of assets(4) | — | 17.8 | |||||||||
Excise taxes on excess pension plan assets costs(5) | — | 4.9 | |||||||||
| Adjusted EBITDA | $ | 1,536.5 | $ | 1,509.1 | |||||||
| As of | |||||||||||
| December 31, 2025 | December 31, 2024 | ||||||||||
| Short-term debt and current portion of long-term debt, net | $ | 25.0 | $ | 19.5 | |||||||
| Long-term debt, net | 5,756.4 | 5,045.5 | |||||||||
Debt discount and debt issuance costs(6) | 48.0 | 47.2 | |||||||||
Fair value adjustments to the Anixter Senior Notes(6) | — | (0.1) | |||||||||
| Total debt | 5,829.4 | 5,112.1 | |||||||||
| Less: Cash and cash equivalents | 604.8 | 702.6 | |||||||||
| Total debt, net of cash | $ | 5,224.6 | $ | 4,409.5 | |||||||
| Financial leverage ratio | 3.4 | 2.9 | |||||||||
(1) Digital transformation costs include costs associated with certain digital transformation initiatives.
(2) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives.
(3) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan.
(4) Loss on abandonment of assets represents the write-off of certain capitalized cloud computing arrangement implementation costs relating to a third-party developed operations management software product in favor of an application with functionality that better suits the Company’s operations.
(5) Excise taxes on excess pension plan assets represent the excise taxes applicable to the excess pension plan assets following the final settlement of the Company’s U.S. pension plan.
(6) Debt is presented in the Consolidated Balance Sheets net of debt issuance costs and debt discount, and includes adjustments to record the long-term debt assumed in the merger with Anixter at its acquisition date fair value.
Note: Financial leverage is a non-GAAP measure of the use of debt. Financial leverage ratio is calculated by dividing total debt, excluding debt discount, debt issuance costs and fair value adjustments, net of cash, by adjusted EBITDA. EBITDA is defined as the trailing twelve months earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA is defined as the trailing twelve months EBITDA before other non-operating expense (income), non-cash stock-based compensation expense, digital transformation costs, cloud computing arrangement amortization, restructuring costs, loss on abandonment of assets, and excise taxes on excess pension plan assets related to the final settlement of the Anixter Inc. Pension Plan.
20
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts)
(Unaudited)
| Three Months Ended | Twelve Months Ended | ||||||||||||||||||||||
| Free Cash Flow: | December 31, 2025 | December 31, 2024 | December 31, 2025 | December 31, 2024 | |||||||||||||||||||
| Cash flow provided by operations | $ | 71.9 | $ | 276.6 | $ | 125.0 | $ | 1,101.2 | |||||||||||||||
| Less: Capital expenditures | (44.4) | (24.3) | (99.8) | (94.7) | |||||||||||||||||||
| Add: Other adjustments | 19.7 | 16.1 | 28.6 | 38.7 | |||||||||||||||||||
| Free cash flow | $ | 47.2 | $ | 268.4 | $ | 53.8 | $ | 1,045.2 | |||||||||||||||
| % of adjusted net income | 27.9 | % | 155.8 | % | 8.0 | % | 154.2 | % | |||||||||||||||
Note: Free cash flow is a non-GAAP financial measure of liquidity. Capital expenditures are deducted from operating cash flow to determine free cash flow. Free cash flow is available to fund investing and financing activities. For the three and twelve months ended December 31, 2025 and 2024, the Company paid for certain costs related to digital transformation and restructuring. Such expenditures have been added back to operating cash flow to determine free cash flow for such periods. Our calculation of free cash flow may not be comparable to similar measures used by other companies.
21
Fourth Quarter 2025 Webcast Presentation February 10, 2026 NYSE: WCC
Forward-Looking Statements and Non-GAAP Measures 2 All statements made herein that are not historical facts should be considered as "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. These statements include, but are not limited to, statements regarding business strategy, growth strategy, competitive strengths, productivity and profitability enhancement, competition, new product and service introductions, and liquidity and capital resources. Such statements can generally be identified by the use of words such as "anticipate," "plan," "believe," "estimate," "intend," "expect," "project," and similar words, phrases or expressions or future or conditional verbs such as "could," "may," "should," "will," and "would," although not all forward-looking statements contain such words. These forward-looking statements are based on current expectations and beliefs of Wesco's management, as well as assumptions made by, and information currently available to, Wesco's management, current market trends and market conditions and involve risks and uncertainties, many of which are outside of Wesco's and Wesco's management's control, and which may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, you should not place undue reliance on such statements. Important factors that could cause actual results or events to differ materially from those presented or implied in the forward-looking statements include, among others, the failure to achieve the anticipated benefits of, and other risks associated with, acquisitions, joint ventures, divestitures and other corporate transactions; the inability to successfully integrate acquired businesses; the impact of increased interest rates or borrowing costs; fluctuations in currency exchange rates; evolving impacts from tariffs or other trade tensions between the U.S. and other countries (including implementation of new tariffs and retaliatory measures); failure to adequately protect Wesco's intellectual property or successfully defend against infringement claims; the inability to successfully deploy new technologies, digital products and information systems or to otherwise adapt to emerging technologies in the marketplace, such as those incorporating artificial intelligence (AI); risks relating to our use or reliance on AI; failure to execute on our efforts and programs related to environmental, social and governance (ESG) matters; unanticipated expenditures or other adverse developments related to compliance with new or stricter government policies, laws or regulations, including those relating to data privacy, cybersecurity, competition, sustainability and environmental protection; the inability to successfully develop, manage or implement new technology initiatives or business strategies, including with respect to the expansion of e-commerce or AI capabilities and other digital solutions and digitalization initiatives; disruption of information technology systems or operations; natural disasters (including as a result of climate change), health epidemics, pandemics and other outbreaks; supply chain disruptions; geopolitical conflicts and issues, such as the ongoing Middle East and Russia/Ukraine conflicts; the impact of changing and expanding export controls, sanctions, and data localization rules; the failure to manage the increased risks and impacts of cyber incidents or data breaches; and exacerbation of key materials shortages, inflationary cost pressures, material cost increases, demand volatility, and logistics and capacity constraints, any of which may have a material adverse effect on the Company's business, results of operations and financial condition. All such factors are difficult to predict and are beyond the Company's control. Additional factors that could cause results to differ materially from those described above can be found in Wesco's most recent Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission. Non-GAAP Measures In addition to the results provided in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) above, this presentation includes certain non-GAAP financial measures. These financial measures include organic sales growth, gross profit, gross margin, earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted EBITDA, adjusted EBITDA margin, financial leverage, free cash flow, adjusted selling, general and administrative expenses, adjusted income from operations, adjusted operating margin, adjusted other non-operating expense (income), adjusted provision for income taxes, adjusted income before income taxes, adjusted net income, adjusted net income attributable to WESCO International, Inc., adjusted net income attributable to common stockholders, and adjusted earnings per diluted share. The Company believes that these non-GAAP measures are useful to investors as they provide a better understanding of our financial condition and results of operations on a comparable basis. Additionally, certain non-GAAP measures either focus on or exclude items impacting comparability of results such as digital transformation costs, restructuring costs, merger-related and integration costs, cloud computing arrangement amortization, pension settlement cost and excise taxes on excess pension plan assets related to the settlement of the Anixter Inc. Pension Plan, loss on abandonment of assets, the gain recognized on the divestiture of the WIS business, the loss on termination of business arrangement, and the related income tax effects, allowing investors to more easily compare the Company's financial performance from period to period. Management does not use these non-GAAP financial measures for any purpose other than the reasons stated above. © 2026 Wesco International
2025 Highlights and 2026 Outlook 3 Building strong momentum as we enter 2026, driven by broad-based growth and record backlog • Record annual sales of $23.5B in 2025, up 9% organically, with growth led by CSS up ~17% and EES up ~8% • Second consecutive quarter of growth in Utility in Q4, driven by Investor-Owned Utilities • Total data center sales up over 50% in 2025 and reached a record ~$4.3B, representing ~18% of total company sales • Q4 adjusted EBITDA of $409 million, up 10% YOY • Q4 adjusted earnings per share of $3.40, up 8% YOY • Full year 2025 adjusted earnings per share of $12.91, up 6% Strong performance continued, with organic sales up 9% YOY in Q4 and for the full year 2025. • Record year-end backlog, up 19%; record CSS backlog, up ~40% • All three SBU’s grew backlog at year-end • Well positioned to continue to outperform our markets and benefit from secular growth trends of AI-driven data centers, increased power generation, electrification, automation and reshoring Record backlog sets the stage for strong 2026. • Strong start to 2026 with preliminary January sales per workday up ~15% • Looking ahead in 2026, we anticipate meaningful improvement in both EBITDA margin and free cash flow • Initiating 2026 outlook with a reported sales growth range of 5%-8%, adjusted EBITDA margin of ~6.8% at the mid-point, adjusted EPS range of $14.50 to $16.50 and free cash flow between $500-$800 million Full-year 2026 outlook reflects increasing momentum seen throughout 2025. See appendix for non-GAAP definitions and reconciliations. © 2026 Wesco International
$5,500 $6,069 Q4 2024 Sales Price Volume M&A, Fx, and Workdays Q4 2025 Sales ¹ Sales growth attribution based on company estimates. ² SG&A for the reconciliation for adjusted EBITDA excludes the impact of stock-based compensation expense, digital transformation costs, cloud computing arrangement amortization and restructuring costs. 3 See appendix for non-GAAP definitions and reconciliations. Strong quarter with organic sales up 9%, Adj. EBITDA up 10%, and Adj. EPS up 8% Fourth Quarter YOY Results 4 • Reported sales up 10%, organic sales up 9% • Volume growth across all three SBUs • Estimated price benefit of ~3% (commodity inflation added one point to price) • Gross margin 21.2%, in line with prior year • SG&A2 was flat • Adjusted EBITDA margin 6.7% $371 $409 Q4 2024 Adjusted EBITDA Reported Sales Gross Margin % SG&A Q4 2025 Adjusted EBITDA 6.7% of sales Net Sales¹ ($Millions) Adjusted EBITDA 6.7% of sales 2 © 2026 Wesco International
$21,819 $23,511 2024 Sales Price Volume M&A, Fx, and Workdays 2025 Sales ¹ Sales growth attribution based on company estimates. ² SG&A for the reconciliation for adjusted EBITDA excludes the impact of stock-based compensation expense, digital transformation costs, cloud computing arrangement amortization and restructuring costs. 3 See appendix for non-GAAP definitions and reconciliations. Organic sales grew 9% for the year, reflecting strong and improving momentum Full Year 2025 YOY Results 5 • Reported sales up 8%, organic sales up 9% • Strong volume growth in CSS and EES • Estimated price benefit of ~2% (commodity inflation added one point to price) • Gross margin 21.1%, down 50 bps • SG&A2 leverage improved 10 bps • Adjusted EBITDA margin down ~40 bps on lower gross margin • Adjusted EPS up 6% $1,509 $1,537 2024 Adjusted EBITDA Reported Sales Gross Margin % SG&A 2025 Adjusted EBITDA 6.9% of sales Net Sales¹ ($Millions) Adjusted EBITDA 6.5% of sales 2 © 2026 Wesco International
EPS growth attribution based on company estimates. See appendix for non-GAAP definitions and reconciliations. Solid Earnings Performance: Q4 EPS up 8%, 2025 EPS up 6% Earnings Per Share 6 • Core operations and benefit from preferred redemption drove EPS growth • Tax related impact to interest expense ~$10 million • Tax rate benefit in prior year period • Benefit from preferred redemption, non-operating FX impact and lower share count drove EPS growth • Core operations were slightly negative due to lower gross margin $12.23 $12.91 2024 Adjusted EPS Core Operations Preferred Dividend Interest Tax Other 2025 Adjusted EPS Q4 EPS FY EPS $3.16 $3.40 Q4 2024 Adjusted EPS Core Operations Preferred Dividend Interest Tax Other Q4 2025 Adjusted EPS © 2026 Wesco International
Organic sales up ~17% for the year reflecting strong data center growth of ~50% Communications & Security Solutions (CSS) 7 ¹ Organic and reported growth versus prior year sales recast for the shift of certain business from EES to CSS. See appendix for reconciliations of all prior year periods. 2 Stock-based compensation expense is excluded from SG&A expenses, as this is an adjustment to calculate adjusted EBITDA. Q4 Results $ Millions Q4 2025 Q4 2024 YOY Sales $2,425 $2,087 16% Adjusted EBITDA $221 $172 29% % of Sales Q4 2025 Q4 2024 bps fav / (unfav) Gross Profit 21.0% 20.8% 20 bps SG&A2 11.9% 12.6% 70 bps Adjusted EBITDA 9.1% 8.2% 90 bps Full Year Results $ Millions FY 2025 FY 2024 YOY Sales $9,101 $7,692 18% Adjusted EBITDA $799 $639 25% % of Sales FY 2025 FY 2024 bps fav / (unfav) Gross Profit 21.1% 21.5% (40) bps SG&A2 12.3% 13.2% 90 bps Adjusted EBITDA 8.8% 8.3% 50 bps Fourth Quarter Drivers Organic sales up ~14%, reported sales up ~16% YOY¹ • Wesco Data Center Solutions (WDCS) up over 30% driven by hyperscale customer demand • Enterprise Network Infrastructure (ENI) up LSD • Security up LDD (up mid-teens including data center projects) driven by share gains Record year-end backlog up nearly 40% over prior year reflecting strong growth in data center projects Improved profitability with 9.1% adjusted EBITDA margin • Adjusted EBITDA up 29%, and adjusted EBITDA margin up 90 bps YOY, reflecting higher gross margin and stronger operating cost leverage Full Year Drivers Organic sales up ~17%, reported sales up ~18% YOY¹ • Growth was driven by accelerating data center demand (up ~50%) and security Improved profitability with 8.8% adjusted EBITDA margin • Adjusted EBITDA margin improved 50 bps, reflecting strong operating cost leverage on double-digit sales growth © 2026 Wesco International
Data center sales were ~18% of Wesco company 2025 sales Data center sales totaled $4.3B, up ~50% in 2025 8 Up ~10% Up ~20% Up ~50% Up ~90% Up ~70% Up ~65% Up ~60% Up ~30% Q1 '24 Q2 '24 Q3 '24 Q4 '24 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Growth and Expansion of Capabilities Through M&A Data Center Land acquisition with access to power Transmission lines to a substation for site Generator sets to enable backup power Transformers to data center Civil construction Mechanical, plumbing and electrical equipment Electrical distribution inside data hall Commissioning November 2022 Hyperscale solutions Data center building intelligence software June 2024 Data center facility services across the entire lifecycle December 2024 3-5 Years Time to Power 1-2 Year Construction Period Total Data Center (all SBUs) Sales and YOY Growth white space Transformers Site Substation Generators ~$1.2B $4.3B in 2025 © 2026 Wesco International gray space
© 2026 Wesco International Data Center Product, Services and Solutions Offering Providing holistic services and solutions for every phase of the data center lifecycle 9 White SpaceGray Space End-to-end electrical, automation and MRO capabilities Extensive next-generation infrastructure and services for always-on connectivity Physical Security, IoT, Pro A/V Access control, sensors and monitoring, video surveillance Electrical Infrastructure Building wire, cable trays, medium-voltage cable, switch gear, UPS systems MRO, Safety and Other Communication devices, janitorial, lighting, tools and equipment Mechanical and Cooling Automated switches and sensors, chillers, Computer Room Air Conditioning (CRAC), thermal IT Infrastructure Compute, network, storage, wireless technologies Communications Infrastructure Copper and fiber cabling systems, racks and enclosures, high-speed interconnects 80% 20% Wesco data center sales mix Data Center White Space Gray Space Global Ecosystem Expansive Portfolio Holistic Solutions Services and Solutions for Every Phase of the Data Center Lifecycle Installation Enhancement Rack and Roll Services Managed Services Project Deployment Services Advisory Services Grid Services OperationsPre-construction 9© 2026 Wesco International
¹ Organic and reported growth versus prior year sales recast for the shift of certain business from EES to CSS. See appendix for reconciliations of all prior year periods. 2 Stock-based compensation expense is excluded from SG&A expenses, as this is an adjustment to calculate adjusted EBITDA. Organic sales up ~8% in 2025 with growth across Construction, Industrial and OEM Electrical & Electronic Solutions (EES) 10 Q4 Results Fourth Quarter Drivers Organic and reported sales up ~9% YOY1 • Construction up LDD driven by strong wire and cable demand and continued infrastructure projects • Industrial up LSD driven by continued project activity in Canada • OEM up mid-teens reflecting strong growth in both the U.S. and Canada Backlog up 6% over prior year Improved profitability with 8.5% adjusted EBITDA margin • Adjusted EBITDA up 16%, and adjusted EBITDA margin up 50 bps YOY, driven by improved gross margin and stronger operating cost leverage $ Millions Q4 2025 Q4 2024 YOY Sales $2,273 $2,083 9% Adjusted EBITDA $194 $166 16% % of Sales Q4 2025 Q4 2024 bps fav / (unfav) Gross Profit 23.7% 23.2% 50 bps SG&A2 15.2% 15.3% 10 bps Adjusted EBITDA 8.5% 8.0% 50 bps Full Year Results $ Millions FY 2025 FY 2024 YOY Sales $8,956 $8,392 7% Adjusted EBITDA $718 $700 3% % of Sales FY 2025 FY 2024 bps fav / (unfav) Gross Profit 23.2% 23.7% (50) bps SG&A2 15.2% 15.4% 20 bps Adjusted EBITDA 8.0% 8.3% (30) bps Full Year Drivers Organic sales up ~8% and reported sales up ~7% YOY1 • Strong OEM and Construction growth and improved Industrial performance • Data center sales ~5% of total sales, up 40% YOY Returned to profit growth in 2025 with an 8.0% adjusted EBITDA margin • Adjusted EBITDA margin was down 30 bps due to lower gross margin driven by project activity and product mix © 2026 Wesco International
Second consecutive quarter of positive growth in Q4 Utility & Broadband Solutions (UBS) 11 1 Stock-based compensation expense is excluded from SG&A expenses, as this is an adjustment to calculate adjusted EBITDA. Q4 Results $ Millions Q4 2025 Q4 2024 YOY Sales $1,371 $1,330 3% Adjusted EBITDA $132 $144 (8%) % of Sales Q4 2025 Q4 2024 bps fav / (unfav) Gross Profit 17.4% 18.5% (110) bps SG&A1 7.7% 7.6% (10) bps Adjusted EBITDA 9.6% 10.8% (120) bps Full Year Results $ Millions FY 2025 FY 2024 YOY Sales $5,454 $5,735 (5%) Adjusted EBITDA $563 $643 (13)% % of Sales FY 2025 FY 2024 bps fav / (unfav) Gross Profit 17.9% 18.6% (70) bps SG&A1 7.6% 7.4% (20) bps Adjusted EBITDA 10.3% 11.2% (90) bps Fourth Quarter Drivers Organic and reported sales up ~3% YOY • Utility grew MSD, driven by strong double-digit growth with IOU customers (including the benefit of Grid Services), partially offset by continued softness with public power customers • Broadband declined HSD YOY, due to a challenging prior year comparison Backlog up 23% from prior year reflecting new project activity Lower profitability primarily driven by public power utility customers • Adjusted EBITDA margin down 120 bps YOY, reflecting lower gross margin Full Year Drivers Organic sales down ~1%, reported sales down ~5% YOY • Utility was down LSD, due to reduced public power activity • Broadband delivered MSD growth on continued network investments Lower profitability driven primarily by public power utility customers • EBITDA declined 90 bps, primarily due to competitive pressures in the public power market © 2026 Wesco International
Comprehensive solutions for large-scale and complex projects across the power chain Powering Critical Infrastructure with End-to-End Grid Services Program and Project Execution Project deployment, jobsite support, turnkey program management, emergency prep, response and restoration Supply Chain and Material Management Asset, materials and yard management, kitting, procurement, sourcing, staging, warehousing and logistics Technical and Field Support Value-added engineering, complex project management, product standardization and sourcing support Grid Services: Products and Solutions Distribution Overhead and underground MV networks Medium Voltage Cable connectivity and switching in MV environments Transmission Build, harden and modernize HV networks Substation Critical infrastructure, switching and transformation to the rack and equipmentFrom the grid to the building Holistic Power-to-Compute Solutions 12© 2026 Wesco International Switch and pad-mount cabinets, splices, termination kits Assemblies, conduit, insulators, poles, protective equipment Cable, insulators, grounding Breakers, regulators, steel structures, transformers
$669 $165 $(558) $(446) $324 $(100) Adjusted Net Income D&A and Other Accounts Receivable Inventory Accounts Payable Capex Free Cash Flow $54 ¹ Represents a four-quarter average of net working capital as of March 31, June 30, September 30 and December 31 as a percentage of revenue for the twelve months ended December 31. See appendix for non-GAAP definitions and reconciliations. Increased inventory and accounts receivable to support accelerating sales growth Free Cash Flow 13 8% of Adjusted Net Income FY 2025 ($ Millions) Net Working Capital (NWC)¹ % of FY Sales 21.4% 19.8% 20.1% 2023 2024 2025 © 2026 Wesco International
1 Bar sizes indicate the percentage of SBU sales of full year 2025. Expected reported sales of 5% to 8%, with organic sales range of 4% to 7% 2026 Strategic Business Unit Sales Growth Drivers 14 % of Wesco 2025 Sales 2026 Outlook SBU Sales Breakdown1 2025 Actual 2026 Outlook Reported Sales Growth Reported Sales Growth Communication & Security Solutions 39% Up HSD+ Construction Industrial OEM Electrical & Electronic Solutions 38% Up MSD Enterprise Network Infrastructure Security Data Center Utility & Broadband Solutions 23% Up LSD - MSD Utility Broadband Data Center expected to be up mid-teens % Construction Industrial OEM Utility Broadband Enterprise Network Infrastructure Security Data Center © 2026 Wesco International
15 2026 growth targets reflect solid momentum and continued operating execution Full-Year 2026 Outlook 2026 Underlying Assumptions • Cloud computing amortization and stock-based compensation are included in SG&A expense for adjusted EPS but are not included in adjusted EBITDA • Carryover pricing expected to add ~2 points to the topline; the impact of future pricing is not incorporated in the outlook • One mid-year interest rate cut of 25 bps incorporated into interest expense outlook 2026 Outlook Sales Organic sales growth 4% - 7% Estimated Fx impact ~1% M&A and Workday impact 0% Reported sales growth 5% - 8% Reported sales $24.7 - $25.4 billion Adjusted EBITDA Adjusted EBITDA margin 6.6% - 7.0% Adjusted EPS Adjusted diluted EPS $14.50 - $16.50 Cash Free cash flow $500 - $800 million FY 2026 Depreciation and Amortization ~$195-$205 Cloud Computing Amortization Expense Adjustment ~$50 Stock Compensation Expense Adjustment ~$40 Interest Expense ~$360-$375 Other Expense, net ~$10 Capital Expenditures ~$100 Share Count 49-49.5 Effective Tax Rate ~26%-27% (~27% in Q2-Q4) 2026 Outlook Assumptions (millions, except effective tax rate) © 2026 Wesco International See appendix for non-GAAP definitions and reconciliations.
Positive momentum continued in January with preliminary sales per workday up ~15% First Quarter 2026 Outlook 16 Q1 Outlook YOY Reported Sales Up HSD Adjusted EBITDA % Up YOY (5)% 5% 15% Oct 24 Nov 24 Dec 24 Jan 25 Feb 25 Mar 25 Apr 25 May 25 Jun 25 Jul 25 Aug 25 Sep 25 Oct 25 Nov 25 Dec 25 YOY Organic Sales Trends Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 +2% +6% +7% +12% +9% © 2026 Wesco International
2025 Highlights and 2026 Outlook 17 Building strong momentum as we enter 2026, driven by broad-based growth and record backlog • Record annual sales of $23.5B in 2025, up 9% organically, with growth led by CSS up ~17% and EES up ~8% • Second consecutive quarter of growth in Utility in Q4, driven by Investor-Owned Utilities • Total data center sales up over 50% in 2025 and reached a record ~$4.3B, representing ~18% of total company sales • Q4 adjusted EBITDA of $409 million, up 10% YOY • Q4 adjusted earnings per share of $3.40, up 8% YOY • Full year 2025 adjusted earnings per share of $12.91, up 6% Strong performance continued, with organic sales up 9% YOY in Q4 and for the full year 2025. • Record year-end backlog, up 19%; record CSS backlog, up ~40% • All three SBU’s grew backlog at year-end • Well positioned to continue to outperform our markets and benefit from secular growth trends of AI-driven data centers, increased power generation, electrification, automation and reshoring Record backlog sets the stage for strong 2026. • Strong start to 2026 with preliminary January sales per workday up ~15% • Looking ahead in 2026, we anticipate meaningful improvement in both EBITDA margin and free cash flow • Initiating 2026 outlook with a reported sales growth range of 5%-8%, adjusted EBITDA margin of ~6.8% at the mid-point, adjusted EPS range of $14.50 to $16.50 and free cash flow between $500-$800 million Full-year 2026 outlook reflects increasing momentum seen throughout 2025. See appendix for non-GAAP definitions and reconciliations. © 2026 Wesco International
18 Appendix © 2026 Wesco International
Workdays Q1 Q2 Q3 Q4 FY 2024 63 64 64 63 254 2025 62 64 64 63 253 2026 62 64 64 63 253 2023 63 64 63 62 252 © 2026 Wesco International 19
($ Millions) Three Months Ended Growth/(Decline) December 31, 2025 December 31, 2024 Reported Sales Acquisition Foreign Exchange Workday Organic Sales EES(1) $2,272.9 $2,082.5 9.1 % — % 0.3 % — % 8.8 % CSS(1) 2,424.7 2,087.1 16.2 % 1.7 % 1.0 % — % 13.5 % UBS 1,371.0 1,330.1 3.1 % — % — % — % 3.1 % Total net sales $6,068.6 $5,499.7 10.3 % 0.6 % 0.5 % — % 9.2 % Organic Sales Growth (1) In the first quarter of 2025, a portion of the EES reportable segment was moved to the CSS reportable segment as a result of operational realignment. As a result, the reportable segment financial information for the three months and year ended December 31, 2024 has been recast to conform to the current year presentation. The recast does not impact previously reported condensed consolidated results. Organic sales growth is a non-GAAP financial measure of sales performance. Organic sales growth is calculated by deducting the percentage impact from acquisitions and divestitures for one year following the respective transaction, fluctuations in foreign exchange rates and number of workdays from the reported percentage change in consolidated net sales. Workday impact represents the change in the number of operating days period-over- period after adjusting for weekends and public holidays in the United States. The fourth quarter of 2025 had the same number of workdays as the fourth quarter of 2024, and 2025 had one less workday compared to 2024. ($ Millions) Twelve Months Ended Growth/(Decline) December 31, 2025 December 31, 2024 Reported Sales Acquisition/ Divestiture Foreign Exchange Workday Organic Sales EES(1) $8,955.5 $8,391.7 6.7 % — % (0.4) % (0.4)% 7.5 % CSS(1) 9,101.0 7,692.1 18.3 % 1.9 % 0.1 % (0.4)% 16.7 % UBS 5,454.4 5,735.0 (4.9) % (3.3) % (0.2) % (0.4)% (1.0) % Total net sales $23,510.9 $21,818.8 7.8 % (0.2) % (0.2) % (0.4)% 8.6 % © 2026 Wesco International 20
Gross Profit ($ Millions) Three Months Ended Twelve Months Ended December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Net sales $6,068.6 $5,499.7 $23,510.9 $21,818.8 Cost of goods sold (excluding depreciation and amortization) 4,782.3 4,335.7 18,538.9 17,106.2 Gross profit $1,286.3 $1,164.0 $4,972.0 $4,712.6 Gross margin 21.2 % 21.2 % 21.1 % 21.6 % Gross profit is a financial measure commonly used in the distribution industry. Gross profit is calculated by deducting cost of goods sold, excluding depreciation and amortization, from net sales. Gross margin is calculated by dividing gross profit by net sales. © 2026 Wesco International 21
Business Unit Gross Profit and Gross Margin Electrical & Electronic Solutions (EES)(1) Three Months Ended Gross Profit: December 31, 2025 December 31, 2024 Net sales $2,272.9 $2,082.5 Cost of goods sold (excluding depreciation and amortization) 1,734.7 1,598.5 Gross profit $538.2 $484.0 Gross margin 23.7% 23.2% (1) In the first quarter of 2025, a portion of the EES reportable segment was moved to the CSS reportable segment as a result of operational realignment. As a result, the reportable segment financial information for the three months ended December 31, 2024 has been recast to conform to the current year presentation. The recast does not impact previously reported condensed consolidated results. Gross profit is a financial measure commonly used in the distribution industry. Gross profit is calculated by deducting cost of goods sold, excluding depreciation and amortization, from net sales. Gross margin is calculated by dividing gross profit by net sales. Communications & Security Solutions (CSS)(1) Three Months Ended Gross Profit: December 31, 2025 December 31, 2024 Net sales $2,424.7 $2,087.1 Cost of goods sold (excluding depreciation and amortization) 1,914.5 1,652.8 Gross profit $510.2 $434.3 Gross margin 21.0% 20.8% Utility & Broadband Solutions (UBS) Three Months Ended Gross Profit: December 31, 2025 December 31, 2024 Net sales $1,371.0 $1,330.1 Cost of goods sold (excluding depreciation and amortization) 1,133.1 1,084.4 Gross profit $237.9 $245.7 Gross margin 17.4% 18.5% ($ Millions) © 2026 Wesco International 22
Utility & Broadband Solutions (UBS) Twelve Months Ended Gross Profit: December 31, 2025 December 31, 2024 Net sales $5,454.4 $5,735.0 Cost of goods sold (excluding depreciation and amortization) 4,476.9 4,670.0 Gross profit $977.5 $1,065.0 Gross margin 17.9% 18.6% Business Unit Gross Profit and Gross Margin - Full Year Electrical & Electronic Solutions (EES)(1) Twelve Months Ended Gross Profit: December 31, 2025 December 31, 2024 Net sales $8,955.5 $8,391.7 Cost of goods sold (excluding depreciation and amortization) 6,877.0 6,401.0 Gross profit $2,078.5 $1,990.7 Gross margin 23.2% 23.7% (1) In the first quarter of 2025, a portion of the EES reportable segment was moved to the CSS reportable segment as a result of operational realignment. As a result, the reportable segment financial information for the year ended December 31, 2024 has been recast to conform to the current year presentation. The recast does not impact previously reported condensed consolidated results. Gross profit is a financial measure commonly used in the distribution industry. Gross profit is calculated by deducting cost of goods sold, excluding depreciation and amortization, from net sales. Gross margin is calculated by dividing gross profit by net sales. Communications & Security Solutions (CSS)(1) Twelve Months Ended Gross Profit: December 31, 2025 December 31, 2024 Net sales $9,101.0 $7,692.1 Cost of goods sold (excluding depreciation and amortization) 7,185.0 6,035.2 Gross profit $1,916.0 $1,656.9 Gross margin 21.1% 21.5% ($ Millions) © 2026 Wesco International 23
Free Cash Flow ($ Millions) Twelve Months Ended December 31, 2025 Cash flow provided by operations $125.0 Less: Capital expenditures (99.8) Add: Other adjustments 28.6 Free cash flow $53.8 Adjusted net income $668.5 Percentage of adjusted net income 8.0 % Free cash flow is a non-GAAP financial measure of liquidity. Capital expenditures are deducted from operating cash flow to determine free cash flow. Free cash flow is available to fund investing and financing activities. For the twelve months ended December 31, 2025, the Company paid for certain costs related to digital transformation and restructuring. Such expenditures have been added back to operating cash flow to determine free cash flow for such periods. Our calculation of free cash flow may not be comparable to similar measures used by other companies. © 2026 Wesco International 24
Net Working Capital - December 31, 2025 ($ Millions) As of Four-Quarter Average as of March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 December 31, 2025 Trade accounts receivable, net $3,641.3 $3,942.8 $4,204.2 $4,069.6 Inventories 3,740.2 3,971.2 4,059.1 4,008.8 Accounts payable 3,025.8 3,291.4 3,375.1 3,030.5 Net working capital $4,355.7 $4,622.6 $4,888.2 $5,047.9 $4,728.6 Three Months Ended Twelve Months Ended March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 December 31, 2025 Net sales $5,343.7 $5,899.6 $6,199.1 $6,068.6 $23,510.9 Average net working capital % of TTM December 31, 2025 net sales 20.1 % Net working capital is a non-GAAP financial measure of short-term liquidity. Net working capital is calculated by subtracting accounts payable from the sum of trade accounts receivable, net and inventories. Net working capital represents our ability to fund our short-term operational expenses. Our calculation of net working capital may not be comparable to similar measures used by other companies. © 2026 Wesco International 25
Net Working Capital - December 31, 2024 ($ Millions) As of Four-Quarter Average as of March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 December 31, 2024 Trade accounts receivable, net $3,526.7 $3,654.6 $3,629.1 $3,454.4 Inventories 3,525.4 3,505.8 3,630.1 3,501.7 Accounts payable 2,974.3 2,688.9 2,839.1 2,670.6 Net working capital $4,077.8 $4,471.5 $4,420.1 $4,285.5 $4,313.7 Three Months Ended Twelve Months Ended March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 December 31, 2024 Net sales $5,350.0 $5,479.7 $5,489.4 $5,499.7 $21,818.8 Average net working capital % of TTM December 31, 2024 net sales 19.8 % Net working capital is a non-GAAP financial measure of short-term liquidity. Net working capital is calculated by subtracting accounts payable from the sum of trade accounts receivable, net and inventories. Net working capital represents our ability to fund our short-term operational expenses. Our calculation of net working capital may not be comparable to similar measures used by other companies. © 2026 Wesco International 26
Net Working Capital - December 31, 2023 ($ Millions) As of Four-Quarter Average as of March 31, 2023 June 30, 2023 September 30, 2023 December 31, 2023 December 31, 2023 Trade accounts receivable, net $3,807.4 $3,850.7 $3,795.0 $3,639.5 Inventories 3,729.5 3,584.3 3,541.4 3,572.1 Accounts payable 2,648.3 2,662.7 2,650.0 2,431.5 Net working capital $4,888.6 $4,772.3 $4,686.4 $4,780.1 $4,781.9 Three Months Ended Twelve Months Ended March 31, 2023 June 30, 2023 September 30, 2023 December 31, 2023 December 31, 2023 Net sales $5,521.9 $5,745.5 $5,644.4 $5,473.4 $22,385.2 Average net working capital % of TTM December 31, 2023 net sales 21.4 % Net working capital is a non-GAAP financial measure of short-term liquidity. Net working capital is calculated by subtracting accounts payable from the sum of trade accounts receivable, net and inventories. Net working capital represents our ability to fund our short-term operational expenses. Our calculation of net working capital may not be comparable to similar measures used by other companies. © 2026 Wesco International 27
Adjusted EBITDA – Q4 2025 EBITDA and Adjusted EBITDA by Segment ($ Millions) Three Months Ended December 31, 2025 EES CSS UBS Corporate Total Net income attributable to common stockholders $176.0 $168.1 $122.3 $(301.2) $165.2 Net income (loss) attributable to noncontrolling interests 0.1 1.0 — (0.1) 1.0 Gain on redemption of Series A Preferred Stock — — — (5.3) (5.3) Provision for income taxes(1) — — — 57.6 57.6 Interest expense, net(1) — — — 108.6 108.6 Depreciation and amortization 13.3 20.2 9.4 8.8 51.7 EBITDA $189.4 $189.3 $131.7 $(131.6) $378.8 Other expense (income), net 3.3 30.7 — (36.5) (2.5) Stock-based compensation expense 1.0 1.3 0.4 8.5 11.2 Digital transformation costs(2) — — — 11.0 11.0 Cloud computing arrangement amortization(3) — — — 10.1 10.1 Adjusted EBITDA $193.7 $221.3 $132.1 $(138.5) $408.6 Adjusted EBITDA margin % 8.5 % 9.1 % 9.6 % 6.7 % (1) The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions. (2) Digital transformation costs include costs associated with certain digital transformation initiatives. (3) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. EBITDA, Adjusted EBITDA and Adjusted EBITDA margin % are non-GAAP financial measures that provide indicators of the Company's performance and its ability to meet debt service requirements. For the three months ended December 31, 2025, Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization before other non-operating expenses (income), non-cash stock-based compensation expense, digital transformation costs, and cloud computing arrangement amortization. © 2026 Wesco International 28
Adjusted EBITDA – Q4 2024 ($ Millions) Three Months Ended December 31, 2024 EES(1) CSS(1) UBS Corporate Total Net income attributable to common stockholders $157.9 $130.9 $135.3 $(273.1) $151.0 Net income (loss) attributable to noncontrolling interests 0.2 0.4 — (0.1) 0.5 Preferred stock dividends — — — 14.4 14.4 Provision for income taxes(2) — — — 43.5 43.5 Interest expense, net(2) — — — 85.1 85.1 Depreciation and amortization 11.8 17.7 7.2 8.9 45.6 EBITDA $169.9 $149.0 $142.5 $(121.3) $340.1 Other (income) expense, net (4.6) 21.2 0.8 (10.8) 6.6 Stock-based compensation expense 1.1 1.6 0.8 5.8 9.3 Digital transformation costs(3) — — — 7.4 7.4 Cloud computing arrangement amortization(4) — — — 4.4 4.4 Restructuring costs(5) — — — 2.6 2.6 Excise taxes on excess pension plan assets(6) — — — 0.1 0.1 Adjusted EBITDA $166.4 $171.8 $144.1 $(111.8) $370.5 Adjusted EBITDA margin % 8.0 % 8.2 % 10.8 % 6.7 % (1) In the first quarter of 2025, a portion of the EES reportable segment was moved to the CSS reportable segment as a result of operational realignment. As a result, the reportable segment financial information for the three months ended December 31, 2024 has been recast to conform to the current year presentation. The recast does not impact previously reported condensed consolidated results. (2) The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions. (3) Digital transformation costs include costs associated with certain digital transformation initiatives. (4) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. (5) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan. (6) Excise taxes on excess pension plan assets represent the excise taxes applicable to the excess pension plan assets following the final settlement of the Company's U.S. pension plan. EBITDA, Adjusted EBITDA and Adjusted EBITDA margin % are non-GAAP financial measures that provide indicators of the Company's performance and its ability to meet debt service requirements. For the three months ended December 31, 2024, Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization before other non-operating expenses (income), non-cash stock-based compensation expense, digital transformation costs, cloud computing arrangement amortization, restructuring costs, and excise taxes on excess pension plan assets represent the excise taxes applicable to the excess pension plan assets following the final settlement of the Company's U.S. pension plan. EBITDA and Adjusted EBITDA by Segment © 2026 Wesco International 29
Adjusted EBITDA – 2025 EBITDA and Adjusted EBITDA by Segment ($ Millions) Year Ended December 31, 2025 EES CSS UBS Corporate Total Net income attributable to common stockholders $646.5 $649.1 $531.0 $(1,180.8) $645.8 Net income (loss) attributable to noncontrolling interests 0.5 2.9 — (1.1) 2.3 Gain on redemption of Series A Preferred Stock — — — (32.9) (32.9) Preferred stock dividends — — — 27.3 27.3 Provision for income taxes(1) — — — 213.4 213.4 Interest expense, net(1) — — — 386.7 386.7 Depreciation and amortization 50.5 77.7 32.6 36.8 197.6 EBITDA $697.5 $729.7 $563.6 $(550.6) $1,440.2 Other expense (income), net 16.0 64.4 (2.6) (87.4) (9.6) Stock-based compensation expense 4.1 5.3 1.8 29.3 40.5 Digital transformation costs(2) — — — 35.2 35.2 Cloud computing arrangement amortization(3) — — — 30.2 30.2 Adjusted EBITDA $717.6 $799.4 $562.8 $(543.3) $1,536.5 Adjusted EBITDA margin % 8.0 % 8.8 % 10.3 % 6.5 % (1) The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions. (2) Digital transformation costs include costs associated with certain digital transformation initiatives. (3) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. EBITDA, Adjusted EBITDA and Adjusted EBITDA margin % are non-GAAP financial measures that provide indicators of the Company's performance and its ability to meet debt service requirements. For the year ended December 31, 2025, Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization before other non-operating expenses (income), non-cash stock-based compensation expense, digital transformation costs, cloud computing arrangement amortization and restructuring costs. © 2026 Wesco International 30
Adjusted EBITDA – 2024 ($ Millions) Year Ended December 31, 2024 EES(1) CSS(1) UBS Corporate Total Net income attributable to common stockholders $641.0 $496.8 $733.0 $(1,210.6) $660.2 Net (loss) income attributable to noncontrolling interests (1.1) 2.3 — 0.6 1.8 Preferred stock dividends — — — 57.4 57.4 Provision for income taxes(2) — — — 231.6 231.6 Interest expense, net(2) — — — 364.9 364.9 Depreciation and amortization 46.4 71.9 28.5 36.4 183.2 EBITDA $686.3 $571.0 $761.5 $(519.7) $1,499.1 Other expense (income), net (3) 9.1 61.2 (121.2) (41.8) (92.7) Stock-based compensation expense 4.4 6.6 3.1 14.8 28.9 Digital transformation costs(4) — — — 24.9 24.9 Loss on abandonment of assets(5) — — — 17.8 17.8 Cloud computing arrangement amortization(6) — — — 14.1 14.1 Restructuring costs(7) — — — 12.1 12.1 Excise taxes on excess pension plan assets(8) — — — 4.9 4.9 Adjusted EBITDA $699.8 $638.8 $643.4 $(472.9) $1,509.1 Adjusted EBITDA margin % 8.3 % 8.3 % 11.2 % 6.9 % (1) In the first quarter of 2025, a portion of the EES reportable segment was moved to the CSS reportable segment as a result of operational realignment. As a result, the reportable segment financial information for the year ended December 31, 2024 has been recast to conform to the current year presentation. The recast does not impact previously reported condensed consolidated results. (2) The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions. (3) Other income for the UBS segment includes the gain on the divestiture of the WIS business. (4) Digital transformation costs include costs associated with certain digital transformation initiatives. (5) Loss on abandonment of assets represents the write-off of certain capitalized cloud computing arrangement implementation costs relating to a third-party developed operations management software product in favor of an application with functionality that better suits the Company’s operation. (6) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. (7) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan. (8) Excise taxes on excess pension plan assets represent the excise taxes applicable to the excess pension plan assets following the final settlement of the Company's U.S. pension plan. EBITDA, Adjusted EBITDA and Adjusted EBITDA margin % are non-GAAP financial measures that provide indicators of the Company's performance and its ability to meet debt service requirements. For the year ended December 31, 2024, Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization before other non-operating expenses (income), non-cash stock-based compensation expense, digital transformation costs, loss on abandonment of assets, cloud computing arrangement amortization, restructuring costs and excise taxes on excess pension plan assets related to the final settlement of the Anixter Inc. Pension Plan. EBITDA and Adjusted EBITDA by Segment © 2026 Wesco International 31
Adjusted SG&A, Income from Operations, Other (Income) Expense, and Provision for Income Taxes ($ Millions) Three Months Ended Twelve Months Ended December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Adjusted SG&A Expenses: Selling, general and administrative expenses $910.0 $817.3 $3,541.4 $3,306.2 Digital transformation costs(1) (11.0) (7.4) (35.2) (24.9) Restructuring costs(2) — (2.6) — (12.1) Loss on abandonment of assets(3) — — — (17.8) Excise taxes on excess pension plan assets(4) — (0.1) — (4.9) Adjusted selling, general and administrative expenses $899.0 $807.2 $3,506.2 $3,246.5 Percentage of net sales 14.8 % 14.7 % 14.9 % 14.9 % Adjusted Income from Operations: Income from operations $324.6 $301.1 $1,233.0 $1,223.2 Digital transformation costs(1) 11.0 7.4 35.2 24.9 Restructuring costs(2) — 2.6 — 12.1 Loss on abandonment of assets(3) — — — 17.8 Excise taxes on excess pension plan assets(4) — 0.1 — 4.9 Adjusted income from operations $335.6 $311.2 $1,268.2 $1,282.9 Adjusted income from operations margin % 5.5 % 5.7 % 5.4 % 5.9 % Adjusted Other (Income) Expense, net: Other (income) expense, net $(2.5) $6.6 $(9.6) $(92.7) Loss on termination of business arrangement(5) — 0.2 (0.3) (3.6) Pension settlement cost(6) — 0.8 — (2.5) Gain on divestiture — — — 122.2 Adjusted other (income) expense, net $(2.5) $7.6 $(9.9) $23.4 Adjusted Provision for Income Taxes: Provision for income taxes $57.6 $43.5 $213.4 $231.6 Income tax effect of adjustments to income from operations and other (income) expense, net(7) 3.0 2.7 9.5 (14.8) Adjusted provision for income taxes $60.6 $46.2 $222.9 $216.8 (1) Digital transformation costs include costs associated with certain digital transformation initiatives. (2) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan. (3) Loss on abandonment of assets represents the write-off of certain capitalized cloud computing arrangement implementation costs relating to a third-party developed operations management software product in favor of an application with functionality that better suits the Company’s operations. (4) Excise taxes on excess pension plan assets represent the excise taxes applicable to the excess pension plan assets following the final settlement of the Company's U.S. pension plan. (5) Loss on termination of business arrangement represents the loss recognized as a result of management’s decision to terminate a business arrangement with a third party. (6) Pension settlement cost represents expense related to the settlement of the Company’s U.S. pension plan. (7) The adjustments to income from operations and other (income) expense, net have been tax effected at rates of 27.1% and 26.6% for the three and twelve months ended December 31, 2025, respectively, and 29.7% and 26.2% for the three and twelve months ended December 31, 2024, respectively. © 2026 Wesco International 32
Adjusted Net Income Attributable to Common Stockholders ($ Millions) Three Months Ended Twelve Months Ended December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Adjusted Net Income Attributable to Common Stockholders: Net income attributable to common stockholders $165.2 $151.0 $645.8 $660.2 Digital transformation costs(1) 11.0 7.4 35.2 24.9 Restructuring costs(2) — 2.6 — 12.1 Loss on abandonment of assets(3) — — — 17.8 Excise taxes on excess pension plan assets(4) — 0.1 — 4.9 Gain on divestiture — — — (122.2) Loss on termination of business arrangement(5) — (0.2) 0.3 3.6 Pension settlement cost(6) — (0.8) — 2.5 Income tax effect of adjustments to income from operations and other (income) expense, net(7) (3.0) (2.7) (9.5) 14.8 Gain on redemption of Series A Preferred Stock (5.3) — (32.9) — Adjusted net income attributable to common stockholders $167.9 $157.4 $638.9 $618.6 (1) Digital transformation costs include costs associated with certain digital transformation initiatives. (2) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan. (3) Loss on abandonment of assets represents the write-off of certain capitalized cloud computing arrangement implementation costs relating to a third-party developed operations management software product in favor of an application with functionality that better suits the Company’s operations. (4) Excise taxes on excess pension plan assets represent the excise taxes applicable to the excess pension plan assets following the final settlement of the Company's U.S. pension plan. (5) Loss on termination of business arrangement represents the loss recognized as a result of management's decision to terminate a business arrangement with a third party. (6) Pension settlement cost represents expense related to the final settlement of the Company's U.S. pension plan. Reduction to pension settlement cost during the three months ended December 31, 2024 represents income as a result of the finalization of the liabilities transferred as part of the settlement of the Company's U.S. pension plan. (7) The adjustments to income from operations and other (income) expense, net have been tax effected at rates of 27.1% and 26.6% for the three and twelve months ended December 31, 2025, respectively, and 29.7% and 26.2% for the three and twelve months ended December 31, 2024, respectively. © 2026 Wesco International 33
Adjusted Earnings Per Diluted Share ($ Millions, except for per share data) Three Months Ended Twelve Months Ended December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Adjusted income from operations $335.6 $311.2 $1,268.2 $1,282.9 Interest expense, net 108.6 85.1 386.7 364.9 Adjusted other (income) expense, net (2.5) 7.6 (9.9) 23.4 Adjusted income before income taxes 229.5 218.5 891.4 894.6 Adjusted provision for income taxes 60.6 46.2 222.9 216.8 Adjusted net income 168.9 172.3 668.5 677.8 Net income attributable to noncontrolling interests 1.0 0.5 2.3 1.8 Adjusted net income attributable to WESCO International, Inc. 167.9 171.8 666.2 676.0 Preferred stock dividends — 14.4 27.3 57.4 Adjusted net income attributable to common stockholders $167.9 $157.4 $638.9 $618.6 Diluted shares 49.4 49.8 49.5 50.6 Adjusted earnings per diluted share $3.40 $3.16 $12.91 $12.23 For the three months For the three and twelve months ended December 31, 2025, SG&A expenses, income from operations, other non-operating expense (income), the provision for income taxes, net income attributable to common stockholders and earnings per diluted share have been adjusted to exclude digital transformation costs, restructuring costs, the loss on termination of business arrangement, and the related income tax effects, and the gain on redemption of the Company's Series A Preferred Stock. For the three and twelve months ended December 31, 2024, SG&A expenses, income from operations, other non-operating (income) expense, the provision for income taxes, net income attributable to common stockholders, and earnings per diluted share have been adjusted to exclude digital transformation costs, the loss on abandonment of assets, restructuring costs, excise taxes on excess pension plan assets, the gain recognized on the divestiture of the WIS business, the loss on termination of business arrangement, pension settlement cost, and the related income tax effects. © 2026 Wesco International 34
Financial Leverage ($ Millions, except ratios) Twelve Months Ended December 31, 2025 December 31, 2024 Net income attributable to common stockholders $645.8 $660.2 Net income attributable to noncontrolling interests 2.3 1.8 Gain on redemption of Series A Preferred Stock (32.9) — Preferred stock dividends 27.3 57.4 Provision for income taxes 213.4 231.6 Interest expense, net 386.7 364.9 Depreciation and amortization 197.6 183.2 EBITDA $1,440.2 $1,499.1 Other income, net (9.6) (92.7) Stock-based compensation expense 40.5 28.9 Digital transformation costs(1) 35.2 24.9 Cloud computing arrangement amortization(2) 30.2 14.1 Restructuring costs(3) — 12.1 Loss on abandonment of assets(4) — 17.8 Excise taxes on excess pension plan assets costs(5) — 4.9 Adjusted EBITDA $1,536.5 $1,509.1 As of December 31, 2025 December 31, 2024 Short-term debt and current portion of long-term debt, net $25.0 $19.5 Long-term debt, net 5,756.4 5,045.5 Debt discount and debt issuance costs(6) 48.0 47.2 Fair value adjustments to the Anixter Senior Notes(6) — (0.1) Total debt 5,829.4 5,112.1 Less: Cash and cash equivalents 604.8 702.6 Total debt, net of cash $5,224.6 $4,409.5 Financial leverage ratio 3.4 2.9 (1) Digital transformation costs include costs associated with certain digital transformation initiatives. (2) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. (3) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan. (4) Loss on abandonment of assets represents the write-off of certain capitalized cloud computing arrangement implementation costs relating to a third-party developed operations management software product in favor of an application with functionality that better suits the Company’s operations. (5) Excise taxes on excess pension plan assets represent the excise taxes applicable to the excess pension plan assets following the final settlement of the Company's U.S. pension plan. (6) Debt is presented in the condensed consolidated balance sheets net of debt issuance and debt discount costs, and includes adjustments to record the long-term debt assumed in the merger with Anixter at its acquisition date fair value. Financial leverage is a non-GAAP measure of the use of debt. Financial leverage ratio is calculated by dividing total debt, excluding debt discount, debt issuance costs and fair value adjustments, net of cash, by adjusted EBITDA. EBITDA is defined as the trailing twelve months earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA is defined as the trailing twelve months EBITDA before other non-operating expense (income), non-cash stock-based compensation expense, digital transformation costs, cloud computing arrangement amortization, restructuring costs, loss on abandonment of assets, and excise taxes on excess pension plan assets related to the final settlement of the Anixter Inc. Pension Plan. © 2026 Wesco International 35
Inter-Segment Business Transfer – 1Q24 and 2Q24 (1) Selling, general and administrative payroll expenses includes salaries, benefits, commissions, incentives, temporary labor, and other payroll expenses. (2) Other segment items primarily includes allocated expenses (which includes employee-related allocations), transportation costs, facility costs (including rent and utilities), employee expenses (including travel and entertainment), credit losses, professional and consulting fees, supplies, real estate and personal property taxes, sales promotion expenses, and gains (losses) on the sale, disposal, or abandonment of property and equipment. (3) Stock-based compensation expense is excluded from selling, general and administrative payroll expenses, as this is an adjustment to calculate adjusted EBITDA. (1) Selling, general and administrative payroll expenses includes salaries, benefits, commissions, incentives, temporary labor, and other payroll expenses. (2) Other segment items primarily includes allocated expenses (which includes employee-related allocations), transportation costs, facility costs (including rent and utilities), employee expenses (including travel and entertainment), credit losses, professional and consulting fees, supplies, real estate and personal property taxes, sales promotion expenses, and gains (losses) on the sale, disposal, or abandonment of property and equipment. (3) Stock-based compensation expense is excluded from selling, general and administrative payroll expenses, as this is an adjustment to calculate adjusted EBITDA. ($ Millions) Three Months Ended March 31, 2024 EES CSS UBS Reportable Segments Total Net sales $2,064.3 $1,704.8 $1,580.9 $5,350.0 Less: Cost of goods sold (excluding depreciation and amortization) 1,580.9 1,333.6 1,297.6 4,212.1 Selling, general and administrative payroll expenses(1)(3) 212.7 149.6 68.0 430.3 Other segment items(2) 108.9 90.4 45.9 245.2 Adjusted EBITDA $161.8 $131.2 $169.4 $462.4 Adjusted EBITDA margin % 7.8 % 7.7 % 10.7 % ($ Millions) Three Months Ended June 30, 2024 EES CSS UBS Reportable Segments Total Net sales $2,134.5 $1,904.3 $1,440.9 $5,479.7 Less: Cost of goods sold (excluding depreciation and amortization) 1,623.1 1,492.0 1,166.6 4,281.7 Selling, general and administrative payroll expenses(1)(3) 212.6 157.0 58.2 427.8 Other segment items(2) 108.6 99.8 42.6 251.0 Adjusted EBITDA $190.2 $155.5 $173.5 $519.2 Adjusted EBITDA margin % 8.9 % 8.2 % 12.0 % Recast results for EES and CSS © 2026 Wesco International 36
Inter-Segment Business Transfer – 3Q24 and 4Q24 (1) Selling, general and administrative payroll expenses includes salaries, benefits, commissions, incentives, temporary labor, and other payroll expenses. (2) Other segment items primarily includes allocated expenses (which includes employee-related allocations), transportation costs, facility costs (including rent and utilities), employee expenses (including travel and entertainment), credit losses, professional and consulting fees, supplies, real estate and personal property taxes, sales promotion expenses, and gains (losses) on the sale, disposal, or abandonment of property and equipment. (3) Stock-based compensation expense is excluded from selling, general and administrative payroll expenses, as this is an adjustment to calculate adjusted EBITDA. (1) Selling, general and administrative payroll expenses includes salaries, benefits, commissions, incentives, temporary labor, and other payroll expenses. (2) Other segment items primarily includes allocated expenses (which includes employee-related allocations), transportation costs, facility costs (including rent and utilities), employee expenses (including travel and entertainment), credit losses, professional and consulting fees, supplies, real estate and personal property taxes, sales promotion expenses, and gains (losses) on the sale, disposal, or abandonment of property and equipment. (3) Stock-based compensation expense is excluded from selling, general and administrative payroll expenses, as this is an adjustment to calculate adjusted EBITDA. ($ Millions) Three Months Ended September 30, 2024 EES CSS UBS Reportable Segments Total Net sales $2,110.4 $1,995.9 $1,383.1 $5,489.4 Less: Cost of goods sold (excluding depreciation and amortization) 1,598.6 1,556.7 1,121.4 4,276.7 Selling, general and administrative payroll expenses(1)(3) 216.8 160.4 60.9 438.1 Other segment items(2) 113.7 98.6 44.3 256.6 Adjusted EBITDA $181.3 $180.2 $156.5 $518.0 Adjusted EBITDA margin % 8.6 % 9.0 % 11.3 % ($ Millions) Three Months Ended December 31, 2024 EES CSS UBS Reportable Segments Total Net sales $2,082.5 $2,087.1 $1,330.1 $5,499.7 Less: Cost of goods sold (excluding depreciation and amortization) 1,598.5 1,652.8 1,084.4 4,335.7 Selling, general and administrative payroll expenses(1)(3) 200.0 159.6 57.8 417.4 Other segment items(2) 117.6 102.9 43.8 264.3 Adjusted EBITDA $166.4 $171.8 $144.1 $482.3 Adjusted EBITDA margin % 8.0 % 8.2 % 10.8 % Recast results for EES and CSS 37© 2026 Wesco International
Inter-Segment Business Transfer – FY23 and FY24 (1) Selling, general and administrative payroll expenses includes salaries, benefits, commissions, incentives, temporary labor, and other payroll expenses. (2) Other segment items primarily includes allocated expenses (which includes employee-related allocations), transportation costs, facility costs (including rent and utilities), employee expenses (including travel and entertainment), credit losses, professional and consulting fees, supplies, real estate and personal property taxes, sales promotion expenses, and gains (losses) on the sale, disposal, or abandonment of property and equipment. (3) Stock-based compensation expense is excluded from selling, general and administrative payroll expenses, as this is an adjustment to calculate adjusted EBITDA. (1) Selling, general and administrative payroll expenses includes salaries, benefits, commissions, incentives, temporary labor, and other payroll expenses. (2) Other segment items primarily includes allocated expenses (which includes employee-related allocations), transportation costs, facility costs (including rent and utilities), employee expenses (including travel and entertainment), credit losses, professional and consulting fees, supplies, real estate and personal property taxes, sales promotion expenses, and gains (losses) on the sale, disposal, or abandonment of property and equipment. (3) Stock-based compensation expense is excluded from selling, general and administrative payroll expenses, as this is an adjustment to calculate adjusted EBITDA. ($ Millions) Year Ended December 31, 2023 EES CSS UBS Reportable Segments Total Net sales $8,449.8 $7,312.7 $6,622.7 $22,385.2 Less: Cost of goods sold (excluding depreciation and amortization) 6,455.7 5,645.1 5,440.7 17,541.5 Selling, general and administrative payroll expenses(1)(3) 861.0 605.2 275.5 1,741.7 Other segment items(2) 426.9 357.4 167.2 951.5 Adjusted EBITDA $706.2 $705.0 $739.3 $2,150.5 Adjusted EBITDA margin % 8.4 % 9.6 % 11.2 % ($ Millions) Year Ended December 31, 2024 EES CSS UBS Reportable Segments Total Net sales $8,391.7 $7,692.1 $5,735.0 $21,818.8 Less: Cost of goods sold (excluding depreciation and amortization) 6,401.0 6,035.2 4,670.0 17,106.2 Selling, general and administrative payroll expenses(1)(3) 842.1 626.6 244.9 1,713.6 Other segment items(2) 448.8 391.5 176.7 1,017.0 Adjusted EBITDA $699.8 $638.8 $643.4 $1,982.0 Adjusted EBITDA margin % 8.3 % 8.3 % 11.2 % Recast results for EES and CSS 38© 2026 Wesco International