WESCO raises 2026 sales outlook to $26.8–$27.0B
WCC raised its 2026 outlook to reported sales of $26.8–$27.0 billion and adjusted diluted EPS of $18.00–$18.50.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
WESCO International, Inc. (WCC) reported third-quarter 2026 net sales of $7.2264 billion, up 16.6% from $6.1991 billion a year earlier, with organic sales growth of 16.6%. Net income attributable to common stockholders was $267.8 million, versus $187.5 million; diluted EPS was $5.43, up 43.3%. Adjusted EBITDA was $561.5 million, up 32.7%, and adjusted diluted EPS was $5.77, up 47.2%. Data center sales were $1.8 billion, up approximately 55% year over year; total backlog was up approximately 80% year over year.
Operating cash flow was $193.9 million and free cash flow was $184.2 million. Financial leverage was 2.8x, compared with 3.4x at 2025 year-end. WESCO raised its 2026 outlook to reported sales of $26.8–$27.0 billion, organic sales growth of 13%–14%, adjusted EBITDA margin of approximately 7.2%, adjusted diluted EPS of $18.00–$18.50, and free cash flow of $300–$600 million. For Q4, it projected reported sales up low to mid-teens year over year and adjusted EBITDA percentage up approximately 50 basis points.
2 points · 0 major0 major · 0 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointQuarterly net sales rose 16.6% year over year to $7.2264 billion.
- Moderate pointAdjusted diluted EPS increased 47.2% year over year to $5.77.
Negative
- None.
Filing Explained
The completed refinancing moves note maturities beyond 2028 at lower stated rates and also reduces revolving-facility borrowings.
In the
The accompanying presentation also reports preliminary October sales per workday up high teens.
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.
Key Figures
Net sales: $7.2264 billion
Net income attributable to common stockholders: $267.8 million
Diluted EPS: $5.43
+5 more
8 metrics
Net sales
$7.2264 billion
Third quarter 2026; $6.1991 billion in third quarter 2025; up 16.6%
Net income attributable to common stockholders
$267.8 million
Third quarter 2026; $187.5 million in third quarter 2025; up 42.8%
Diluted EPS
$5.43
Third quarter 2026; $3.79 in third quarter 2025; up 43.3%
Adjusted EBITDA
$561.5 million
Third quarter 2026; $423.0 million in third quarter 2025; up 32.7%
Adjusted diluted EPS
$5.77
Third quarter 2026; $3.92 in third quarter 2025; up 47.2%
Free cash flow
$184.2 million
Third quarter 2026; $(89.3) million in third quarter 2025
Financial leverage ratio
2.8x
As of September 30, 2026; 3.4x at 2025 year-end
2026 reported sales outlook
$26.8–$27.0 billion
Updated full-year outlook
Key Terms
Organic sales growth, Adjusted EBITDA, Financial leverage ratio, Free cash flow, +1 more
5 terms
Organic sales growth financial
"organic sales growth is calculated by deducting the percentage impact"
Organic sales growth measures how much a company’s revenue rises from its regular business activity — like selling more products, charging higher prices, or selling to more customers — without counting money from buying other businesses or one-time currency effects. Investors watch it because it shows whether demand and the company’s core operations are genuinely getting stronger, similar to judging a garden by how much the plants you planted yourself are growing rather than by adding bought potted plants.
Adjusted EBITDA financial
"adjusted EBITDA is defined as earnings before interest, taxes"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Financial leverage ratio financial
"Financial leverage ratio is a non-GAAP measure of the use of debt."
Free cash flow financial
"Free cash flow is a non-GAAP financial measure of liquidity."
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
Net working capital financial
"Net working capital is a non-GAAP financial measure of short-term liquidity."
Net working capital is the amount left when you subtract a company’s short-term bills (like accounts payable and short-term loans) from its short-term assets (cash, money owed to it, and inventory). Think of it as the cash cushion a business has to keep daily operations running — a bigger cushion means fewer short-term funding worries, while a small or negative number can signal pressure to raise cash or cut activity, which matters to investors assessing stability and short-term risk.
Earnings Snapshot
Net sales: $7.2264 billion · Guidance included
Third quarter ended September 30, 2026
Net sales
$7.2264 billion
Up 16.6% year over year
Net income attributable to common stockholders
$267.8 million
Up 42.8% year over year
Diluted EPS
$5.43
Up 43.3% year over year
Adjusted EBITDA
$561.5 million
Up 32.7% year over year
Adjusted diluted EPS
$5.77
Up 47.2% year over year
Guidance
Raised 2026 outlook: reported sales of $26.8–$27.0 billion; organic sales growth of 13%–14%; adjusted EBITDA margin of approximately 7.2%; adjusted diluted EPS of $18.00–$18.50; free cash flow of $300–$600 million.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much revenue did WCC report in Q3 2026?
WCC reported net sales of $7.2264 billion for the third quarter ended September 30, 2026, up 16.6% from $6.1991 billion in the prior-year quarter.
What is WCC's updated 2026 outlook?
WESCO raised its outlook to reported sales of $26.8–$27.0 billion, organic sales growth of 13%–14%, adjusted EBITDA margin of approximately 7.2%, adjusted diluted EPS of $18.00–$18.50, and free cash flow of $300–$600 million.
What did WCC say about October sales and Q4 2026?
WESCO said preliminary October sales per workday were up high teens year over year. Its Q4 outlook calls for reported sales up low to mid-teens year over year and adjusted EBITDA percentage up approximately 50 basis points.
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): October 29, 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 October 29, 2026, WESCO International, Inc. (the “Company”) issued a press release announcing its financial results for the third quarter of 2026. 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 third quarter of 2026 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 October 29, 2026 | ||||
| 99.2 | Slide presentation for investors, dated October 29, 2026 | ||||
| 104 | Cover Page Interactive Data 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) | ||||||||
| October 29, 2026 | By: | /s/ Indraneel Dev | ||||||
| (Date) | Indraneel Dev | |||||||
| 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 Record Third Quarter 2026 Results
•Record third quarter reported net sales of $7.2 billion, up 17% YOY and up 8% sequentially
–Organic sales up 17% YOY
–Data center sales of $1.8 billion, up ~55% YOY
–Non-data center sales up 7% YOY
•Record total company backlog, up ~80% YOY
•Third quarter operating margin of 6.2%, up 60 basis points YOY; adjusted EBITDA margin of 7.8%, up 100 basis points YOY
•Record third quarter diluted EPS of $5.43; record adjusted diluted EPS of $5.77, up 47% YOY
•Third quarter operating cash flow of $194 million; free cash flow of $184 million
•Financial leverage of 2.8x, down from 3.4x at 2025 year-end
•Raising 2026 outlook on record sales, profitability and backlog
PITTSBURGH, October 29, 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 third quarter of 2026.
“We are very pleased with our record third quarter results and carry positive business momentum into the fourth quarter. Once again, sales, backlog, operating profit, and earnings per share all increased double digits versus the prior year and achieved records that exceeded our expectations. We are particularly pleased with our free cash flow generation during the quarter which was strong given the sales growth we delivered. The past five consecutive quarters of double-digit sales growth demonstrate Wesco’s higher growth profile which extends well beyond our important data center positioning. Customer demand is strong across the rest of our diversified portfolio and end markets, with sales up high single-digits excluding data centers. Our customers continue to invest in major capital and infrastructure projects and increasingly rely on Wesco to manage their needs as we add more services to our portfolio and demonstrate the continued effectiveness of our One Wesco cross-selling strategy. Especially noteworthy, our backlog was up over 80%, to a new record level for each of our three business units,” said John Engel, Chairman, President, and CEO.
Mr. Engel concluded, “The power of our customer value proposition, global capabilities, and leading portfolio of products, services and solutions is clear as we continue to outperform the market. Our backlog growth is being fueled by multi-year customer commitments, as our large customers recognize our unique capabilities across the communications, security, electrical, utility and power markets. As a result, we are again significantly raising our full-year 2026 outlook reflecting our confidence in our continued strong execution. Given the positive market momentum that we are seeing, I’m bullish that Wesco will continue to outperform our markets and deliver superior value to our customers, suppliers, and shareholders to close out 2026 and in 2027.”
1
Key Financial Highlights
| Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||
| ($ in millions except per share data) | 2026 Reported | 2025 Reported | Change vs prior year quarter | 2026 Reported | 2025 Reported | Change vs prior year | ||||||||||||||
| GAAP Results | ||||||||||||||||||||
| Net sales | $7,226.4 | $6,199.1 | 16.6% | $19,971.6 | $17,442.4 | 14.5% | ||||||||||||||
Selling, general, and administrative expenses | $1,062.4 | $922.9 | 15.1% | $3,032.7 | $2,631.4 | 15.3% | ||||||||||||||
Operating profit | $450.8 | $345.4 | 30.5% | $1,126.5 | $908.5 | 24.0% | ||||||||||||||
| Net income attributable to common stockholders | $267.8 | $187.5 | 42.8% | $630.6 | $480.6 | 31.2% | ||||||||||||||
| Earnings per diluted share | $5.43 | $3.79 | 43.3% | $12.77 | $9.71 | 31.5% | ||||||||||||||
| Operating cash flow | $193.9 | $(82.7) | 334.5% | $469.0 | $53.1 | 783.2% | ||||||||||||||
| Effective tax rate | 24.4% | 23.5% | 90 basis points | 23.3% | 24.4% | (110) basis points | ||||||||||||||
| ($ in millions except per share data) | 2026 Adjusted | 2025 Adjusted | Change vs prior year quarter | 2026 Adjusted | 2025 Adjusted | Change vs prior year | ||||||||||||||
| Non-GAAP Results | ||||||||||||||||||||
| Organic sales growth | 16.6% | 12.1% | N/A | 13.9% | 8.3% | N/A | ||||||||||||||
| Gross profit | $1,565.8 | $1,317.4 | 18.9% | $4,313.6 | $3,685.7 | 17.0% | ||||||||||||||
| Gross margin | 21.7% | 21.3% | 40 basis points | 21.6% | 21.1% | 50 basis points | ||||||||||||||
| Adjusted selling, general, and administrative expenses | $1,037.6 | $914.1 | 13.5% | $2,967.2 | $2,607.3 | 13.8% | ||||||||||||||
Adjusted EBITDA | $561.5 | $423.0 | 32.7% | $1,437.5 | $1,127.8 | 27.5% | ||||||||||||||
Adjusted EBITDA margin | 7.8% | 6.8% | 100 basis points | 7.2% | 6.5% | 70 basis points | ||||||||||||||
| Adjusted net income attributable to common stockholders | $284.4 | $193.9 | 46.7% | $676.8 | $470.9 | 43.7% | ||||||||||||||
| Adjusted earnings per diluted share | $5.77 | $3.92 | 47.2% | $13.70 | $9.51 | 44.1% | ||||||||||||||
| Free cash flow | $184.2 | $(89.3) | 306.3% | $429.9 | $6.6 | 6,413.6% | ||||||||||||||
Net Sales
•On an organic basis, which removes the impact of the Newark Engineering Group (“Newark”) acquisition and differences in foreign exchange rates, sales for the third quarter of 2026 grew by 16.6%. 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. Sequentially, net sales increased 8.4% and organic sales grew by 8.5%. Record backlog at the end of the third quarter of 2026 was up by approximately 80% compared to the end of the third quarter of 2025.
•For the first nine months of 2026, organic sales grew by 13.9%. 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.
Gross Profit and Gross Margin
•The increase in gross margin for the three and nine months ended September 30, 2026 reflects improved gross margin in the EES and CSS segments.
Selling, General, and Administrative (“SG&A”) Expenses
•The increase in SG&A expenses for the third quarter of 2026 is primarily driven by an increase in commissions and incentives due to company performance, as well as higher salaries and benefits. SG&A expenses for the third quarter of 2026 include $24.8 million of digital transformation costs, compared to $8.8 million of digital transformation and restructuring costs for the third quarter of 2025. Adjusted for these costs, SG&A expenses were 14.4% and 14.7% of net sales for the third quarter of 2026 and 2025, respectively, reflecting improved operating cost leverage on the sales growth.
•The increase in SG&A expenses for the first nine months of 2026 is primarily driven by an increase in commissions and incentives due to company performance, as well as higher salaries and benefits. SG&A expenses for the first nine months of 2026 include $65.5 million of digital transformation costs, compared to $24.1 million for the first nine months of 2025. Adjusted for these costs, SG&A expenses were 14.9% of net sales for the first nine months of 2026 and 2025.
2
Adjusted EBITDA and Adjusted EBITDA Margin
•The increase in adjusted EBITDA and adjusted EBITDA margin for the third quarter of 2026 reflects higher sales, increased gross margin, and improved operating cost leverage. Sequentially, adjusted EBITDA margin increased 50 basis points.
•The increase in adjusted EBITDA and adjusted EBITDA margin for the first nine months of 2026 primarily reflects higher sales and increased gross margin.
Effective Tax Rate
•The higher effective tax rate for the three months ended September 30, 2026 is largely driven by a higher annual effective tax rate resulting from higher non-deductible compensation expense as compared to the prior year period.
•The lower effective tax rate for the nine months ended September 30, 2026 is largely driven by higher discrete income tax benefits relating to the exercise and vesting of stock-based awards and return to provision adjustments primarily attributable to lower U.S. tax on foreign income, partially offset by higher non-deductible compensation expense as compared to the prior year period.
Adjusted Earnings Per Diluted Share
•The increase in adjusted earnings per diluted share in the third quarter of 2026 reflects higher adjusted EBITDA, partially offset by a $32.8 million increase in the adjusted provision for income taxes.
•The increase in adjusted earnings per diluted share in the first nine months of 2026 reflects higher adjusted EBITDA, partially offset by a $47.4 million increase in the adjusted provision for income taxes and a $22.5 million increase in interest expense. The increase in interest expense was primarily driven by higher net term debt throughout the first nine months compared to the prior year, as well as a $10.0 million non-cash loss on extinguishment of debt, partially offset by the issuance of the 2031 Notes and 2034 Notes at lower rates as compared to the 2028 Notes, as well as lower rates on the amended accounts receivables securitization facility and the amended revolving credit facility. Additionally, the prior year period included the favorable impact of the Series A Preferred Stock redemption, partially offset by $27.3 million of preferred stock dividends.
Operating Cash Flow
•Net cash provided by operating activities for the third quarter of 2026 totaled $193.9 million compared to net cash used in operating activities of $82.7 million in the third quarter of 2025. The $276.6 million increase includes a $326.9 million impact from accounts payable, due to increased inventory purchases, as well as the timing of inventory purchases and payments to suppliers as compared to the prior year. A $227.3 million impact from changes in other current and noncurrent liabilities, primarily driven by deferred revenue due to advance payments from customers and milestone billings, and an increase in net income as adjusted for certain non-cash items versus the prior year also contributed to the increase. These increases were partially offset by a $169.3 million impact from inventories, primarily due to an increase in volume related to growth in large projects as compared to the prior year, a $93.6 million impact from changes in other current and noncurrent assets, primarily due to increases in supplier prepayments, and a $90.0 million impact from changes in trade accounts receivable, primarily due to increased sales growth in all three segments, as well as the timing of receipts from customers as compared to the prior year
•Net cash provided by operating activities for the first nine months of 2026 totaled $469.0 million, compared to $53.1 million for the first nine months of 2025. The $415.9 million increase includes a $478.2 million impact from changes in accounts payable, due to increased inventory purchases, as well as the timing of inventory purchases and payments to suppliers as compared to the prior year. Other current and noncurrent liabilities additionally contributed to the increase, with a $397.7 million impact primarily driven by deferred revenue due to advance payments from customers and milestone billings. An increase in net income as adjusted for certain non-cash items also contributed to the increase in operating cash flows. These increases were partially offset by a $299.9 million impact from changes in trade accounts receivable and a $261.6 million impact from changes in other current and noncurrent assets. The impact from trade accounts receivable was primarily due to increased sales growth in all three segments, as well as the timing of receipts from customers as compared to the prior year, and the impact from other current and noncurrent assets was primarily due to increases in supplier prepayments. A $198.6 million impact from inventories also offset the increases, primarily due to an increase in volume related to increased growth in large projects as compared to the prior year.
Webcast and Teleconference Access
Wesco will conduct a webcast and teleconference to discuss the third quarter of 2026 earnings as described in this News Release on Thursday, October 29, 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.
3
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.
4
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 Corporate_Communications@wesco.com | ||||
http://www.wesco.com
5
WESCO INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in millions, except per share amounts)
(Unaudited)
| Three Months Ended | |||||||||||||||||
| September 30, 2026 | September 30, 2025 | ||||||||||||||||
| Net sales | $ | 7,226.4 | $ | 6,199.1 | |||||||||||||
| Cost of goods sold (excluding depreciation and amortization) | 5,660.6 | 78.3 | % | 4,881.7 | 78.7 | % | |||||||||||
| Selling, general and administrative expenses | 1,062.4 | 14.7 | % | 922.9 | 14.9 | % | |||||||||||
| Depreciation and amortization | 52.6 | 49.1 | |||||||||||||||
| Income from operations | 450.8 | 6.2 | % | 345.4 | 5.6 | % | |||||||||||
| Interest expense, net | 93.6 | 99.0 | |||||||||||||||
| Other expense, net | 1.9 | — | |||||||||||||||
| Income before income taxes | 355.3 | 4.9 | % | 246.4 | 4.0 | % | |||||||||||
| Provision for income taxes | 86.8 | 57.8 | |||||||||||||||
| Net income | 268.5 | 3.7 | % | 188.6 | 3.0 | % | |||||||||||
Less: Net income attributable to noncontrolling interests | 0.7 | 1.1 | |||||||||||||||
| Net income attributable to common stockholders | $ | 267.8 | 3.7 | % | $ | 187.5 | 3.0 | % | |||||||||
| Earnings per diluted share attributable to common stockholders | $ | 5.43 | $ | 3.79 | |||||||||||||
| Weighted-average common shares outstanding and common share equivalents used in computing earnings per diluted common share | 49.3 | 49.5 | |||||||||||||||
6
WESCO INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in millions, except per share amounts)
(Unaudited)
| Nine Months Ended | |||||||||||||||||
| September 30, 2026 | September 30, 2025 | ||||||||||||||||
| Net sales | $ | 19,971.6 | $ | 17,442.4 | |||||||||||||
| Cost of goods sold (excluding depreciation and amortization) | 15,658.0 | 78.4 | % | 13,756.7 | 78.9 | % | |||||||||||
| Selling, general and administrative expenses | 3,032.7 | 15.2 | % | 2,631.4 | 15.1 | % | |||||||||||
| Depreciation and amortization | 154.4 | 145.8 | |||||||||||||||
| Income from operations | 1,126.5 | 5.6 | % | 908.5 | 5.2 | % | |||||||||||
| Interest expense, net | 300.7 | 278.2 | |||||||||||||||
| Other expense (income), net | 1.3 | (7.0) | |||||||||||||||
| Income before income taxes | 824.5 | 4.1 | % | 637.3 | 3.7 | % | |||||||||||
| Provision for income taxes | 192.3 | 155.7 | |||||||||||||||
| Net income | 632.2 | 3.2 | % | 481.6 | 2.8 | % | |||||||||||
Less: Net income attributable to noncontrolling interests | 1.6 | 1.3 | |||||||||||||||
| Net income attributable to WESCO International, Inc. | 630.6 | 3.2 | % | 480.3 | 2.8 | % | |||||||||||
Plus: Gain on redemption of Series A Preferred Stock | — | 27.6 | |||||||||||||||
Less: Preferred stock dividends | — | 27.3 | |||||||||||||||
| Net income attributable to common stockholders | $ | 630.6 | 3.2 | % | $ | 480.6 | 2.8 | % | |||||||||
| Earnings per diluted share attributable to common stockholders | $ | 12.77 | $ | 9.71 | |||||||||||||
| Weighted-average common shares outstanding and common share equivalents used in computing earnings per diluted common share | 49.4 | 49.5 | |||||||||||||||
7
WESCO INTERNATIONAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(dollar amounts in millions)
(Unaudited)
| As of | |||||||||||
| September 30, 2026 | December 31, 2025 | ||||||||||
| Assets | |||||||||||
Current assets: | |||||||||||
| Cash and cash equivalents | $ | 842.5 | $ | 604.8 | |||||||
| Trade accounts receivable, net | 5,050.2 | 4,069.6 | |||||||||
| Inventories | 4,687.1 | 4,008.8 | |||||||||
| Other current assets | 958.6 | 773.0 | |||||||||
| Total current assets | 11,538.4 | 9,456.2 | |||||||||
| Goodwill and intangible assets | 5,141.2 | 5,112.6 | |||||||||
| Other assets | 2,095.2 | 1,926.1 | |||||||||
| Total assets | $ | 18,774.8 | $ | 16,494.9 | |||||||
| Liabilities and Equity | |||||||||||
Current liabilities: | |||||||||||
| Accounts payable | $ | 4,166.1 | $ | 3,030.5 | |||||||
| Short-term debt and current portion of long-term debt, net | 24.8 | 25.0 | |||||||||
| Other current liabilities | 1,563.5 | 1,241.3 | |||||||||
| Total current liabilities | 5,754.4 | 4,296.8 | |||||||||
| Long-term debt, net | 5,982.8 | 5,756.4 | |||||||||
| Other noncurrent liabilities | 1,604.8 | 1,415.3 | |||||||||
| Total liabilities | 13,342.0 | 11,468.5 | |||||||||
| Equity: | |||||||||||
| Total equity | 5,432.8 | 5,026.4 | |||||||||
| Total liabilities and equity | $ | 18,774.8 | $ | 16,494.9 | |||||||
8
WESCO INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(dollar amounts in millions)
(Unaudited)
| Nine Months Ended | |||||||||||
| September 30, 2026 | September 30, 2025 | ||||||||||
Operating activities: | |||||||||||
| Net income | $ | 632.2 | $ | 481.6 | |||||||
| Add back (deduct): | |||||||||||
| Depreciation and amortization | 154.4 | 145.8 | |||||||||
| Change in trade receivables, net | (1,003.5) | (703.6) | |||||||||
| Change in inventories | (704.9) | (506.3) | |||||||||
| Change in accounts payable | 1,152.3 | 674.1 | |||||||||
| Other, net | 238.5 | (38.5) | |||||||||
| Net cash provided by operating activities | 469.0 | 53.1 | |||||||||
Investing activities: | |||||||||||
| Capital expenditures | (80.7) | (55.4) | |||||||||
| Acquisition payments, net of cash acquired | (127.7) | (36.0) | |||||||||
| Other, net | 4.6 | (9.0) | |||||||||
| Net cash used in investing activities | (203.8) | (100.4) | |||||||||
Financing activities: | |||||||||||
Debt borrowings, net(1) | 223.9 | 679.5 | |||||||||
| Payments for taxes related to net-share settlement of equity awards | (50.5) | (35.9) | |||||||||
| Repurchases of common stock | (75.0) | (75.0) | |||||||||
| Redemption of preferred stock | — | (540.3) | |||||||||
| Payment of common stock dividends | (73.1) | (66.3) | |||||||||
| Payment of preferred stock dividends | — | (27.3) | |||||||||
| Other, net | (47.3) | (28.9) | |||||||||
| Net cash used in financing activities | (22.0) | (94.2) | |||||||||
| Effect of exchange rate changes on cash and cash equivalents | (5.5) | 10.8 | |||||||||
| Net change in cash and cash equivalents | 237.7 | (130.7) | |||||||||
| Cash and cash equivalents at the beginning of the period | 604.8 | 702.6 | |||||||||
| Cash and cash equivalents at the end of the period | $ | 842.5 | $ | 571.9 | |||||||
(1) The nine months ended September 30, 2026 includes the issuance of the Company's $650 million aggregate principal amount of 5.250% Senior Notes due 2031 (the “2031 Notes”) and $850 million aggregate principal amount of 5.500% Senior Notes due 2034 (the “2034 Notes” and, together with the 2031 Notes, the “2031 and 2034 Notes”). The proceeds from the issuance of the 2031 and 2034 Notes were used for the redemption of the Company's $1,325 million aggregate principal amount of 7.250% Senior Notes due 2028 (the “2028 Notes”) and to repay a portion of the amounts outstanding under the Revolving Credit Facility. The nine months ended September 30, 2025 includes the issuance of the Company's $800 million aggregate principal amount of 6.375% senior notes due 2033 (the “2033 Notes”). The Company used the net proceeds from the issuance of the 2033 Notes to redeem all of the Company’s outstanding 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock (the “Series A Preferred Stock”) and all of the related depositary shares representing fractional interests in the Series A Preferred Stock, and to repay a portion of the amounts outstanding under the Revolving Credit Facility.
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 gain, 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.
10
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts and ratios)
(Unaudited)
| Organic Sales Growth by Segment - Three Months Ended: | |||||||||||||||||||||||||||||||||||||||||
| Three Months Ended | Growth/(Decline) | ||||||||||||||||||||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | Reported Sales | Acquisition | Foreign Exchange | Workday | Organic Sales | |||||||||||||||||||||||||||||||||||
| EES | $ | 2,772.4 | $ | 2,359.6 | 17.5 | % | — | % | (0.3) | % | — | % | 17.8 | % | |||||||||||||||||||||||||||
| CSS | 2,933.5 | 2,410.9 | 21.7 | % | 0.2 | % | 0.1 | % | — | % | 21.4 | % | |||||||||||||||||||||||||||||
| UBS | 1,520.5 | 1,428.6 | 6.4 | % | — | % | (0.2) | % | — | % | 6.6 | % | |||||||||||||||||||||||||||||
| Total net sales | $ | 7,226.4 | $ | 6,199.1 | 16.6 | % | 0.1 | % | (0.1) | % | — | % | 16.6 | % | |||||||||||||||||||||||||||
Organic Sales Growth by Segment - Nine Months Ended: | |||||||||||||||||||||||||||||||||||||||||
| Nine Months Ended | Growth/(Decline) | ||||||||||||||||||||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | Reported Sales | Acquisition | Foreign Exchange | Workday | Organic Sales | |||||||||||||||||||||||||||||||||||
| EES | $ | 7,527.3 | $ | 6,682.7 | 12.6 | % | — | % | 0.5 | % | — | % | 12.1 | % | |||||||||||||||||||||||||||
| CSS | 8,093.6 | 6,676.4 | 21.2 | % | 0.1 | % | 0.9 | % | — | % | 20.2 | % | |||||||||||||||||||||||||||||
| UBS | 4,350.7 | 4,083.3 | 6.5 | % | — | % | — | % | — | % | 6.5 | % | |||||||||||||||||||||||||||||
| Total net sales | $ | 19,971.6 | $ | 17,442.4 | 14.5 | % | — | % | 0.6 | % | — | % | 13.9 | % | |||||||||||||||||||||||||||
| Organic Sales Growth by Segment - Sequential: | |||||||||||||||||||||||||||||||||||||||||
| Three Months Ended | Growth/(Decline) | ||||||||||||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | Reported Sales | Acquisition | Foreign Exchange | Workday | Organic Sales | |||||||||||||||||||||||||||||||||||
| EES | $ | 2,772.4 | $ | 2,510.7 | 10.4 | % | — | % | (0.3) | % | — | % | 10.7 | % | |||||||||||||||||||||||||||
| CSS | 2,933.5 | 2,681.2 | 9.4 | % | 0.2 | % | (0.2) | % | — | % | 9.4 | % | |||||||||||||||||||||||||||||
| UBS | 1,520.5 | 1,473.2 | 3.2 | % | — | % | (0.1) | % | — | % | 3.3 | % | |||||||||||||||||||||||||||||
| Total net sales | $ | 7,226.4 | $ | 6,665.1 | 8.4 | % | 0.1 | % | (0.2) | % | — | % | 8.5 | % | |||||||||||||||||||||||||||
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; There was no change in the number of workdays in the third quarter of 2026 compared to the third quarter of 2025, in the first nine months of 2026 compared to the first nine months of 2025, or in the third quarter of 2026 compared to the second quarter of 2026.
11
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts and ratios)
(Unaudited)
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| Gross Profit: | September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | |||||||||||||||||||
| Net sales | $ | 7,226.4 | $ | 6,199.1 | $ | 19,971.6 | $ | 17,442.4 | |||||||||||||||
| Cost of goods sold (excluding depreciation and amortization) | 5,660.6 | 4,881.7 | 15,658.0 | 13,756.7 | |||||||||||||||||||
| Gross profit | $ | 1,565.8 | $ | 1,317.4 | $ | 4,313.6 | $ | 3,685.7 | |||||||||||||||
| Gross margin | 21.7 | % | 21.3 | % | 21.6 | % | 21.1 | % | |||||||||||||||
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 and ratios)
(Unaudited)
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||||||
| Adjusted SG&A Expenses: | |||||||||||||||||||||||
| SG&A expenses | $ | 1,062.4 | $ | 922.9 | $ | 3,032.7 | $ | 2,631.4 | |||||||||||||||
Digital transformation costs(1) | (24.8) | (10.4) | (65.5) | (24.1) | |||||||||||||||||||
Restructuring costs(2) | — | 1.6 | — | — | |||||||||||||||||||
| Adjusted SG&A expenses | $ | 1,037.6 | $ | 914.1 | $ | 2,967.2 | $ | 2,607.3 | |||||||||||||||
| Percentage of net sales | 14.4 | % | 14.7 | % | 14.9 | % | 14.9 | % | |||||||||||||||
| Adjusted Income from Operations: | |||||||||||||||||||||||
| Income from operations | $ | 450.8 | $ | 345.4 | $ | 1,126.5 | $ | 908.5 | |||||||||||||||
Digital transformation costs(1) | 24.8 | 10.4 | 65.5 | 24.1 | |||||||||||||||||||
Restructuring costs(2) | — | (1.6) | — | — | |||||||||||||||||||
| Adjusted income from operations | $ | 475.6 | $ | 354.2 | $ | 1,192.0 | $ | 932.6 | |||||||||||||||
| Adjusted income from operations margin % | 6.6 | % | 5.7 | % | 6.0 | % | 5.3 | % | |||||||||||||||
| Adjusted Other Expense (Income), net: | |||||||||||||||||||||||
| Other expense (income), net | $ | 1.9 | $ | — | $ | 1.3 | $ | (7.0) | |||||||||||||||
Pension settlement gain(3) | 2.0 | — | 2.0 | — | |||||||||||||||||||
Loss on termination of business arrangement(4) | — | — | — | (0.3) | |||||||||||||||||||
| Adjusted other expense (income), net | $ | 3.9 | $ | — | $ | 3.3 | $ | (7.3) | |||||||||||||||
| Adjusted Provision for Income Taxes: | |||||||||||||||||||||||
| Provision for income taxes | $ | 86.8 | $ | 57.8 | $ | 192.3 | $ | 155.7 | |||||||||||||||
Income tax effect of adjustments to income from operations and other expense (income), net(5) | 6.2 | 2.4 | 17.3 | 6.5 | |||||||||||||||||||
| Adjusted provision for income taxes | $ | 93.0 | $ | 60.2 | $ | 209.6 | $ | 162.2 | |||||||||||||||
| Adjusted Net Income Attributable to Common Stockholders: | |||||||||||||||||||||||
| Net income attributable to common stockholders | $ | 267.8 | $ | 187.5 | $ | 630.6 | $ | 480.6 | |||||||||||||||
Digital transformation costs(1) | 24.8 | 10.4 | 65.5 | 24.1 | |||||||||||||||||||
Restructuring costs(2) | — | (1.6) | — | — | |||||||||||||||||||
Pension settlement gain(3) | (2.0) | — | (2.0) | — | |||||||||||||||||||
Loss on termination of business arrangement(4) | — | — | — | 0.3 | |||||||||||||||||||
Income tax effect of adjustments to income from operations and other income, net(5) | (6.2) | (2.4) | (17.3) | (6.5) | |||||||||||||||||||
| Gain on redemption of Series A Preferred Stock | — | — | — | (27.6) | |||||||||||||||||||
| Adjusted net income attributable to common stockholders | $ | 284.4 | $ | 193.9 | $ | 676.8 | $ | 470.9 | |||||||||||||||
(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) Pension settlement gain represents income as a result of the partial settlement and remeasurement of the Company's EECOL Canada pension plan.
(4) 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.
(5) The adjustments to income from operations and other expense (income), net have been tax effected at rates of 27.1% and 26.7% for the three months ended September 30, 2026 and 2025, respectively, and 27.2% and 26.4% for the nine months ended September 30, 2026 and 2025, respectively.
13
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts and ratios)
(Unaudited)
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| Adjusted Earnings per Diluted Share: | September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | |||||||||||||||||||
| Adjusted income from operations | $ | 475.6 | $ | 354.2 | $ | 1,192.0 | $ | 932.6 | |||||||||||||||
| Interest expense, net | 93.6 | 99.0 | 300.7 | 278.2 | |||||||||||||||||||
| Adjusted other expense (income), net | 3.9 | — | 3.3 | (7.3) | |||||||||||||||||||
| Adjusted income before income taxes | 378.1 | 255.2 | 888.0 | 661.7 | |||||||||||||||||||
| Adjusted provision for income taxes | 93.0 | 60.2 | 209.6 | 162.2 | |||||||||||||||||||
| Adjusted net income | 285.1 | 195.0 | 678.4 | 499.5 | |||||||||||||||||||
| Net income attributable to noncontrolling interests | 0.7 | 1.1 | 1.6 | 1.3 | |||||||||||||||||||
| Adjusted net income attributable to WESCO International, Inc. | 284.4 | 193.9 | 676.8 | 498.2 | |||||||||||||||||||
| Preferred stock dividends | — | — | — | 27.3 | |||||||||||||||||||
| Adjusted net income attributable to common stockholders | $ | 284.4 | $ | 193.9 | $ | 676.8 | $ | 470.9 | |||||||||||||||
| Diluted shares | 49.3 | 49.5 | 49.4 | 49.5 | |||||||||||||||||||
| Adjusted earnings per diluted share | $ | 5.77 | $ | 3.92 | $ | 13.70 | $ | 9.51 | |||||||||||||||
Note: For the three and nine months ended September 30, 2026, SG&A expenses, income from operations, other non-operating expense (income), provision for income taxes, net income attributable to common stockholders and earnings per diluted share have been adjusted to exclude digital transformation costs, the gain recognized from the partial settlement of the EECOL Canada pension plan, and the related income tax effects. For the three and nine months ended September 30, 2025, SG&A expenses, income from operations, 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 related income tax effects, and the gain on redemption of the Company's Series A Preferred Stock. Other non-operating expense (income), the provision for income taxes, net income attributable to common stockholders and earnings per diluted share for the nine months ended September 30, 2025 was also adjusted to exclude the loss on termination of business arrangement and the related income tax effect. These non-GAAP financial measures provide a better understanding of our financial results on a comparable basis.
14
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts and ratios)
(Unaudited)
| Three Months Ended September 30, 2026 | ||||||||||||||||||||||||||||||||
| EBITDA and Adjusted EBITDA by Segment: | EES | CSS | UBS | Corporate | Total | |||||||||||||||||||||||||||
| Net income attributable to common stockholders | $ | 247.2 | $ | 275.9 | $ | 149.1 | $ | (404.4) | $ | 267.8 | ||||||||||||||||||||||
| Net income (loss) attributable to noncontrolling interests | 0.4 | 0.7 | — | (0.4) | 0.7 | |||||||||||||||||||||||||||
Provision for income taxes(1) | — | — | — | 86.8 | 86.8 | |||||||||||||||||||||||||||
Interest expense, net(1) | — | — | — | 93.6 | 93.6 | |||||||||||||||||||||||||||
| Depreciation and amortization | 13.5 | 21.8 | 8.6 | 8.7 | 52.6 | |||||||||||||||||||||||||||
| EBITDA | $ | 261.1 | $ | 298.4 | $ | 157.7 | $ | (215.7) | $ | 501.5 | ||||||||||||||||||||||
| Other (income) expense, net | (2.8) | 13.4 | (0.3) | (8.4) | 1.9 | |||||||||||||||||||||||||||
| Stock-based compensation expense | 0.8 | 1.6 | 0.8 | 17.5 | 20.7 | |||||||||||||||||||||||||||
Digital transformation costs(2) | — | — | — | 24.8 | 24.8 | |||||||||||||||||||||||||||
Cloud computing arrangement amortization(3) | — | — | — | 12.6 | 12.6 | |||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 259.1 | $ | 313.4 | $ | 158.2 | $ | (169.2) | $ | 561.5 | ||||||||||||||||||||||
| Adjusted EBITDA margin % | 9.3 | % | 10.7 | % | 10.4 | % | 7.8 | % | ||||||||||||||||||||||||
(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 September 30, 2025 | ||||||||||||||||||||||||||||||||
| EBITDA and Adjusted EBITDA by Segment: | EES | CSS | UBS | Corporate | Total | |||||||||||||||||||||||||||
| Net income attributable to common stockholders | $ | 183.2 | $ | 191.7 | $ | 140.7 | $ | (328.1) | $ | 187.5 | ||||||||||||||||||||||
| Net income (loss) attributable to noncontrolling interests | 0.3 | 1.2 | — | (0.4) | 1.1 | |||||||||||||||||||||||||||
Provision for income taxes(1) | — | — | — | 57.8 | 57.8 | |||||||||||||||||||||||||||
Interest expense, net(1) | — | — | — | 99.0 | 99.0 | |||||||||||||||||||||||||||
| Depreciation and amortization | 12.7 | 19.3 | 7.8 | 9.3 | 49.1 | |||||||||||||||||||||||||||
| EBITDA | $ | 196.2 | $ | 212.2 | $ | 148.5 | $ | (162.4) | $ | 394.5 | ||||||||||||||||||||||
| Other expense (income), net | 1.1 | 7.0 | (0.2) | (7.9) | — | |||||||||||||||||||||||||||
| Stock-based compensation expense | 1.0 | 1.3 | 0.5 | 7.9 | 10.7 | |||||||||||||||||||||||||||
Digital transformation costs(2) | — | — | — | 10.4 | 10.4 | |||||||||||||||||||||||||||
Cloud computing arrangement amortization(3) | — | — | — | 9.0 | 9.0 | |||||||||||||||||||||||||||
Restructuring costs(4) | — | — | — | (1.6) | (1.6) | |||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 198.3 | $ | 220.5 | $ | 148.8 | $ | (144.6) | $ | 423.0 | ||||||||||||||||||||||
| Adjusted EBITDA margin % | 8.4 | % | 9.1 | % | 10.4 | % | 6.8 | % | ||||||||||||||||||||||||
(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. | ||||||||||||||||||||||||||||||||
(4) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan. | ||||||||||||||||||||||||||||||||
15
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts and ratios)
(Unaudited)
| Three Months Ended June 30, 2026 | ||||||||||||||||||||||||||||||||
| EBITDA and Adjusted EBITDA by Segment: | EES | CSS | UBS | Corporate | Total | |||||||||||||||||||||||||||
| Net income attributable to common stockholders | $ | 204.1 | $ | 232.2 | $ | 136.8 | $ | (364.1) | $ | 209.0 | ||||||||||||||||||||||
| Net income (loss) attributable to noncontrolling interests | 0.2 | 0.6 | — | (0.2) | 0.6 | |||||||||||||||||||||||||||
Provision for income taxes(1) | — | — | — | 62.4 | 62.4 | |||||||||||||||||||||||||||
Interest expense, net(1) | — | — | — | 110.4 | 110.4 | |||||||||||||||||||||||||||
| Depreciation and amortization | 13.7 | 19.8 | 9.1 | 8.5 | 51.1 | |||||||||||||||||||||||||||
| EBITDA | $ | 218.0 | $ | 252.6 | $ | 145.9 | $ | (183.0) | $ | 433.5 | ||||||||||||||||||||||
| Other expense (income), net | 12.6 | 18.7 | — | (31.5) | (0.2) | |||||||||||||||||||||||||||
| Stock-based compensation expense | 0.7 | 1.6 | 0.9 | 15.9 | 19.1 | |||||||||||||||||||||||||||
Digital transformation costs(2) | — | — | — | 23.2 | 23.2 | |||||||||||||||||||||||||||
Cloud computing arrangement amortization(3) | — | — | — | 11.6 | 11.6 | |||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 231.3 | $ | 272.9 | $ | 146.8 | $ | (163.8) | $ | 487.2 | ||||||||||||||||||||||
| Adjusted EBITDA margin % | 9.2 | % | 10.2 | % | 10.0 | % | 7.3 | % | ||||||||||||||||||||||||
(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. | ||||||||||||||||||||||||||||||||
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 September 30, 2026 and June 30, 2026, 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 September 30, 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.
16
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts and ratios)
(Unaudited)
| Nine Months Ended September 30, 2026 | ||||||||||||||||||||||||||||||||
| EBITDA and Adjusted EBITDA by Segment: | EES | CSS | UBS | Corporate | Total | |||||||||||||||||||||||||||
| Net income attributable to common stockholders | $ | 615.4 | $ | 696.4 | $ | 407.6 | $ | (1,088.8) | $ | 630.6 | ||||||||||||||||||||||
| Net income (loss) attributable to noncontrolling interests | 0.7 | 1.7 | — | (0.8) | 1.6 | |||||||||||||||||||||||||||
Provision for income taxes(1) | — | — | — | 192.3 | 192.3 | |||||||||||||||||||||||||||
Interest expense, net(1) | — | — | — | 300.7 | 300.7 | |||||||||||||||||||||||||||
| Depreciation and amortization | 40.4 | 61.4 | 26.2 | 26.4 | 154.4 | |||||||||||||||||||||||||||
| EBITDA | $ | 656.5 | $ | 759.5 | $ | 433.8 | $ | (570.2) | $ | 1,279.6 | ||||||||||||||||||||||
| Other expense (income), net | 16.6 | 45.2 | (0.7) | (59.8) | 1.3 | |||||||||||||||||||||||||||
| Stock-based compensation expense | 2.3 | 4.8 | 2.6 | 46.2 | 55.9 | |||||||||||||||||||||||||||
Digital transformation costs(2) | — | — | — | 65.5 | 65.5 | |||||||||||||||||||||||||||
Cloud computing arrangement amortization(3) | — | — | — | 35.2 | 35.2 | |||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 675.4 | $ | 809.5 | $ | 435.7 | $ | (483.1) | $ | 1,437.5 | ||||||||||||||||||||||
| Adjusted EBITDA margin % | 9.0 | % | 10.0 | % | 10.0 | % | 7.2 | % | ||||||||||||||||||||||||
(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. | ||||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2025 | ||||||||||||||||||||||||||||||||
| EBITDA and Adjusted EBITDA by Segment: | EES | CSS | UBS | Corporate | Total | |||||||||||||||||||||||||||
| Net income attributable to common stockholders | $ | 470.4 | $ | 481.0 | $ | 408.8 | $ | (879.6) | $ | 480.6 | ||||||||||||||||||||||
| Net income (loss) attributable to noncontrolling interests | 0.3 | 1.9 | — | (0.9) | 1.3 | |||||||||||||||||||||||||||
| Gain on redemption of Series A Preferred Stock | — | — | — | (27.6) | (27.6) | |||||||||||||||||||||||||||
| Preferred stock dividends | — | — | — | 27.3 | 27.3 | |||||||||||||||||||||||||||
Provision for income taxes(1) | — | — | — | 155.7 | 155.7 | |||||||||||||||||||||||||||
Interest expense, net(1) | — | — | — | 278.2 | 278.2 | |||||||||||||||||||||||||||
| Depreciation and amortization | 37.3 | 57.4 | 23.2 | 27.9 | 145.8 | |||||||||||||||||||||||||||
| EBITDA | $ | 508.0 | $ | 540.3 | $ | 432.0 | $ | (419.0) | $ | 1,061.3 | ||||||||||||||||||||||
| Other expense (income), net | 12.7 | 33.7 | (2.6) | (50.8) | (7.0) | |||||||||||||||||||||||||||
| Stock-based compensation expense | 3.1 | 4.0 | 1.3 | 20.9 | 29.3 | |||||||||||||||||||||||||||
Digital transformation costs(2) | — | — | — | 24.1 | 24.1 | |||||||||||||||||||||||||||
Cloud computing arrangement amortization(3) | — | — | — | 20.1 | 20.1 | |||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 523.8 | $ | 578.0 | $ | 430.7 | $ | (404.7) | $ | 1,127.8 | ||||||||||||||||||||||
| Adjusted EBITDA margin % | 7.8 | % | 8.7 | % | 10.5 | % | 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. | ||||||||||||||||||||||||||||||||
Note: 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 nine months ended September 30, 2026 and September 30, 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.
17
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts and ratios)
(Unaudited)
| Twelve Months Ended | |||||||||||
| Financial Leverage: | September 30, 2026 | December 31, 2025 | |||||||||
| Net income attributable to common stockholders | $ | 795.8 | $ | 645.8 | |||||||
| Net income attributable to noncontrolling interests | 2.6 | 2.3 | |||||||||
| Gain on redemption of Series A Preferred Stock | (5.3) | (32.9) | |||||||||
| Preferred stock dividends | — | 27.3 | |||||||||
| Provision for income taxes | 249.9 | 213.4 | |||||||||
| Interest expense, net | 409.2 | 386.7 | |||||||||
| Depreciation and amortization | 206.1 | 197.6 | |||||||||
| EBITDA | $ | 1,658.3 | $ | 1,440.2 | |||||||
| Other income, net | (1.2) | (9.6) | |||||||||
| Stock-based compensation expense | 67.1 | 40.5 | |||||||||
Digital transformation costs(1) | 76.5 | 35.2 | |||||||||
Cloud computing arrangement amortization(2) | 45.3 | 30.2 | |||||||||
| Adjusted EBITDA | $ | 1,846.0 | $ | 1,536.5 | |||||||
| As of | |||||||||||
| September 30, 2026 | December 31, 2025 | ||||||||||
| Short-term debt and current portion of long-term debt, net | $ | 24.8 | $ | 25.0 | |||||||
| Long-term debt, net | 5,982.8 | 5,756.4 | |||||||||
Debt discount and debt issuance costs(3) | 50.6 | 48.0 | |||||||||
| Total debt | 6,058.2 | 5,829.4 | |||||||||
| Less: Cash and cash equivalents | 842.5 | 604.8 | |||||||||
| Total debt, net of cash | $ | 5,215.7 | $ | 5,224.6 | |||||||
| Financial leverage ratio | 2.8 | 3.4 | |||||||||
(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)Debt is presented in the Condensed Consolidated Balance Sheets net of debt discount and debt issuance costs.
Note: Financial leverage ratio is a non-GAAP measure of the use of debt. Financial leverage ratio is calculated by dividing total debt, excluding debt issuance costs, and debt discount, 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, and cloud computing arrangement amortization.
18
WESCO INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share amounts and ratios)
(Unaudited)
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| Free Cash Flow: | September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | |||||||||||||||||||
| Cash flow provided by operations | $ | 193.9 | $ | (82.7) | $ | 469.0 | $ | 53.1 | |||||||||||||||
| Less: Capital expenditures | (29.1) | (13.2) | (80.7) | (55.4) | |||||||||||||||||||
| Add: Other adjustments | 19.4 | 6.6 | 41.6 | 8.9 | |||||||||||||||||||
| Free cash flow | $ | 184.2 | $ | (89.3) | $ | 429.9 | $ | 6.6 | |||||||||||||||
| Percentage of adjusted net income | 64.6 | % | (45.8) | % | 63.4 | % | 1.3 | % | |||||||||||||||
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 nine months ended September 30, 2026 and 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.
19
Third Quarter 2026 Webcast Presentation October 29, 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, cloud computing arrangement amortization, 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
Third Quarter Highlights and Full Year Outlook 3 Another quarter of market outperformance and exceptional results, driven by accelerating business momentum. • Third quarter sales were a record at $7.2B, with reported and organic sales growth of 17% – Accelerating momentum across all three business units, with Q3 sales up 8% sequentially – Strong growth across all three business units, with CSS organic sales up 21%, EES up 18%, and UBS up 7% – Total company data center sales were up ~55% • Backlog increased ~80% to a record level, with CSS, EES, and UBS each achieving record backlog levels again in Q3 Record third quarter sales and backlog, up 17% and ~80%, respectively, reflecting diversified secular growth drivers across the portfolio. • Record adjusted EBITDA of $562M, up 33% year-over-year, with adjusted EBITDA margin expanding ~100 basis points to 7.8% • Record adjusted EPS of $5.77, up 47% versus prior year • Strong cash generation resulted in free cash flow of $184M, well ahead of expectations in the third quarter • Leverage ratio improved to 2.8x from 3.4x at 2025 year-end Record profitability and exceptional earnings growth driven by margin expansion and continued disciplined execution. • Multiple secular growth drivers continue to broaden across our diversified portfolio, as demonstrated by strong Q3 performance in EES • Data centers continue to expand as a One Wesco opportunity across CSS, EES and UBS • Accelerating business and execution momentum support increased 2026 outlook and sustained profitable growth and outperformance in 2027 Raising 2026 outlook following another quarter of exceptional performance. See appendix for non-GAAP definitions and reconciliations. © 2026 Wesco International
Data Center Leadership: One Partner, Complete Life Cycle, Around the World November 10, 2026 | 10:00 AM ET | investors.wesco.com
$6,199 $7,226 Q3 2025 Sales Price Volume M&A, Foreign Exchange and Workdays Q3 2026 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. See appendix for non-GAAP definitions and reconciliations. Broad-based growth drove record sales, profitability and earnings Third Quarter YOY Results 5 • Reported and organic sales up 17%, driven by accelerating sales in all three business units • Strong volume growth across all three business units • Estimated price benefit of ~3% • Gross margin of 21.7%, up ~40 bps YOY • SG&A2 operating cost leverage improved ~50 bps, reflecting strong sales growth, productivity and disciplined cost management • Record adjusted EBITDA of $562 million, up 33% YOY, with EBITDA margin of 7.8%, an increase of ~100 bps $423 $562 Q3 2025 Adjusted EBITDA Reported Sales Gross Margin SG&A Q3 2026 Adjusted EBITDA 6.8% of sales Net Sales¹ ($Millions) Adjusted EBITDA ($Millions) 7.8% of sales 2 © 2026 Wesco International +17% Organic Sales +33% +100 bps
EPS growth attribution based on company estimates. See appendix for non-GAAP definitions and reconciliations. Record adjusted EPS up 47%, reflecting accelerating business momentum Earnings Per Share 6 • Core operating performance was the primary driver of adjusted EPS growth, reflecting strong sales growth and profitability • Acquisitions and foreign exchange were modest net headwinds to quarterly earnings Q3 EPS $3.92 $5.77 $5.77 Q3 2025 Adjusted EPS Core Operations M&A, Foreign Exchange, Interest & Other Q3 2026 Adjusted EPS © 2026 Wesco International • Lower interest expense contributed modestly to adjusted EPS growth • A higher effective tax rate partially offset the benefit from lower preferred dividend expense +47%
Record sales and profitability driven by strong data center demand Communications and Security Solutions (CSS) 7 See appendix for non-GAAP definitions and reconciliations. Numbers may not sum due to rounding. Q3 Results $ Millions Q3 2026 Q3 2025 YOY Sales $2,933 $2,411 22% Adjusted EBITDA $313 $221 42% % of Sales Q3 2026 Q3 2025 bps fav / (unfav) Gross Profit 21.8% 21.2% 60 bps SG&A 11.2% 12.1% 90 bps Adjusted EBITDA 10.7% 9.1% 160 bps © 2026 Wesco International Third Quarter Drivers Record backlog up ~140% YOY, driven by strong growth in data center projects Record profitability on strong margin expansion to 10.7% adjusted EBITDA • Adjusted EBITDA increased 42%, and adjusted EBITDA margin expanded 160 bps to 10.7%, driven by gross margin expansion and improved operating cost leverage Organic sales up 21% (volume +20%, price +1%), reported sales up 22% • Wesco Data Center Solutions (WDCS) sales increased ~40%, with growth driven primarily by hyperscale and MTDC customers • Enterprise Network Infrastructure (ENI) up MSD, driven by service provider activity and continued investment in network infrastructure • Security up HSD, driven by continued share gains and growth in global accounts
See appendix for non-GAAP definitions and reconciliations. Numbers may not sum due to rounding. Record sales and profitability driven by accelerating momentum across end markets Electrical and Electronic Solutions (EES) 8© 2026 Wesco International Q3 Results $ Millions Q3 2026 Q3 2025 YOY Sales $2,772 $2,360 18% Adjusted EBITDA $259 $198 31% % of Sales Q3 2026 Q3 2025 bps fav / (unfav) Gross Profit 23.6% 23.3% 30 bps SG&A 14.3% 14.9% 60 bps Adjusted EBITDA 9.3% 8.4% 90 bps Third Quarter Drivers Reported and organic sales up 18% (volume +13%, price +5%) • Construction up mid-teens, driven by continued infrastructure investment and data center project activity • Industrial up MSD, driven by continued strength in MRO demand and industrial projects • OEM up ~30%, reflecting broad-based growth across data center and semiconductor markets • Sales to data center customers increased over 100%, remaining a key growth driver across EES, with non-data center sales delivering solid HSD growth Record backlog up ~40% YOY, driven by broad-based growth across Industrial, OEM and Construction customers Record profitability on strong margin expansion to 9.3% adjusted EBITDA • Adjusted EBITDA increased 31%, and adjusted EBITDA margin expanded 90 basis points to 9.3%, driven by gross margin expansion and operating cost leverage
Strengthening demand trends and record backlog reflect improving fundamentals Utility and Broadband Solutions (UBS) 9 See appendix for non-GAAP definitions and reconciliations. Numbers may not sum due to rounding. © 2026 Wesco International Q3 Results $ Millions Q3 2026 Q3 2025 YOY Sales $1,521 $1,429 6% Adjusted EBITDA $158 $149 6% % of Sales Q3 2026 Q3 2025 bps fav / (unfav) Gross Profit 17.8% 17.8% -- SG&A 7.4% 7.4% -- Adjusted EBITDA 10.4% 10.4% -- Third Quarter Drivers Organic sales up 7% (volume +5%, price +2%), reported sales up 6% • Utility up HSD, driven by strong IOU performance, improving Public Power trends, and continued utility infrastructure investment • Broadband was flat YOY reflecting continued customer share gains against a challenging comparable (Q3 2025 sales up over 20%) Record backlog up ~90% YOY, driven by accelerating Grid Services adoption and strong underlying order activity Strong profitability reflects positive sequential momentum and improving business fundamentals • Adjusted EBITDA increased 6% YOY • EBITDA margin expanded 40 basis points sequentially to 10.4% • Public Power competitive market dynamics have stabilized throughout the year evidenced by flat sequential margins Q1-Q3; YOY margin pressure remained a headwind
Represents ~23% of company sales Margin Accretive Data Center Sales ~$6B on TTM basis to the rack and equipmentFrom the grid to the building Holistic Power-to-Compute Solutions 10© 2026 Wesco International Time to Power (3-5 Years) Construction Period (1–2 Years) Up ~60% Up ~30% Up ~70% Up ~45% Up ~55% Q3 '25 Q4 '25 Q1 '26 Q2' 26 Q3' 26 Total Company Data Center Sales and YOY Growth Q3 2026: $1.8B Q3 2025: $1.2B Strategic Acquisitions Expanded Power-to-Compute Capabilities Rahi AscententroCIM Newark Engineering Hyperscale Solutions Building Intelligence Software Facility Services Cooling Solutions Enhanced End-to-End Data Center Capabilities 2022 2026 10© 2026 Wesco International
$285 $184 $137 $(209) $(29) Adjusted Net Income D&A and Other NWC Capex Free Cash Flow ¹ Represents a four-quarter average of net working capital as a percentage of trailing twelve-month sales for the period presented. See appendix for non-GAAP definitions and reconciliations. Net working capital as a percent of sales remains stable Free Cash Flow of $184 million, ahead of expectations 11 65% of Adjusted Net Income Q3 2026 ($ Millions) Net Working Capital (NWC)¹ % of TTM Sales 20.2% 20.3% 20.2% Q1 '26 Q2 '26 Q3 '26 © 2026 Wesco International
$900 $650 $850 $800 $850 $538 $1,312 $1,430 $320 2027 2028 2029 2030 2031 2032 2033 2034 AR Facility (Remaining Capacity) AR Facitlity (Balance Outstanding) Revolver (Remaining Capacity) Revolver (Balance Outstanding) Senior Notes Maturity Schedule ($ Millions) 12© 2026 Wesco International Senior notes shown at par value. See appendix for non-GAAP definitions and reconciliations. Leverage Ratio Net Debt-to-Adjusted EBITDA 3.5x 3.4x 3.2x 3.0x 2.8x Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Net leverage improved to 2.8x, ending the quarter below 3.0x. Strong balance sheet and improved financial flexibility
1 Bar sizes indicate the percentage of SBU sales of full year 2025. Raising growth expectations driven by accelerating business momentum 2026 Strategic Business Unit Sales Growth Drivers 13 Data Center expected to be up 40%+ (vs. up 30%+ prior) Construction Industrial OEM Utility Broadband Enterprise Network Infrastructure Security Data Center © 2026 Wesco International % of Wesco 2025 Sales 2026 Outlook SBU Sales Breakdown1 2026 Outlook Reported Sales Growth Reported Sales Growth Communication and Security Solutions 39% Up ~20% (Raised from Up mid – high teens) Electrical and Electronic Solutions 38% Up LDD (Raised from Up HSD) Utility and Broadband Solutions 23% Up MSD
14 Again, increasing full-year sales, adjusted EBITDA and adjusted EPS expectations 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 • Pricing is expected to contribute approximately 3 points to full-year sales growth • Assumes no additional Federal Reserve Increases in 2026 2026 Outlook July October Sales Organic sales growth 9% - 11% 13% - 14% Estimated M&A, Fx and workday impact ~1% ~1% Reported sales growth 10% - 12% 14% - 15% Reported sales $25.9 - $26.3 billion $26.8 - $27.0 billion Adjusted EBITDA Adjusted EBITDA margin 6.9% - 7.1% ~7.2% Adjusted EPS Adjusted diluted EPS $16.00 - $17.50 $18.00 - $18.50 Cash Free cash flow $300 - $600 million $300 - $600 million FY 2026 July October Depreciation and Amortization ~$200-$210 ~$205-$210 Cloud Computing Amortization Expense Adjustment ~$50 ~$50 Stock Compensation Expense Adjustment ~$70 ~$75 Interest Expense ~$380-$390 ~$395 Other Expense, net ~$10 ~$10 Capital Expenditures ~$100 ~$100 Share Count ~49.5 ~49.5 Effective Tax Rate ~25% (~27% in Q3-Q4) ~25% (~27% in Q4) 2026 Outlook Assumptions (millions, except effective tax rate) © 2026 Wesco International See appendix for non-GAAP definitions and reconciliations.
Very good start to Q4 with October preliminary sales per workday up high teens Fourth Quarter 2026 Outlook 15 Q4 Outlook YOY Reported Sales Up low to mid- teens Adjusted EBITDA % Up ~50 bps 0% 5% 10% 15% 20% Jul 25 Aug 25 Sep 25 Oct 25 Nov 25 Dec 25 Jan 26 Feb 26 Mar 26 Apr 26 May 26 Jun 26 Jul 26 Aug 26 Sep 26 YOY Organic Sales Trends Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 +12% +9% +12% +13% +17% © 2026 Wesco International
Third Quarter Highlights and Full Year Outlook 16 Another quarter of market outperformance and exceptional results, driven by accelerating business momentum. • Third quarter sales were a record at $7.2B, with reported and organic sales growth of 17% – Accelerating momentum across all three business units, with Q3 sales up 8% sequentially – Strong growth across all three business units, with CSS organic sales up 21%, EES up 18%, and UBS up 7% – Total company data center sales were up ~55% • Backlog increased ~80% to a record level, with CSS, EES, and UBS each achieving record backlog levels again in Q3 Record third quarter sales and backlog, up 17% and ~80%, respectively, reflecting diversified secular growth drivers across the portfolio. • Record adjusted EBITDA of $562M, up 33% year-over-year, with adjusted EBITDA margin expanding ~100 basis points to 7.8% • Record adjusted EPS of $5.77, up 47% versus prior year • Strong cash generation resulted in free cash flow of $184M, well ahead of expectations in the third quarter • Leverage ratio improved to 2.8x from 3.4x at 2025 year-end Record profitability and exceptional earnings growth driven by margin expansion and continued disciplined execution. • Multiple secular growth drivers continue to broaden across our diversified portfolio, as demonstrated by strong Q3 performance in EES • Data centers continue to expand as a One Wesco opportunity across CSS, EES and UBS • Accelerating business and execution momentum support increased 2026 outlook and sustained profitable growth and outperformance in 2027 Raising 2026 outlook following another quarter of exceptional performance. See appendix for non-GAAP definitions and reconciliations. © 2026 Wesco International
17 Appendix © 2026 Wesco International
Workdays © 2026 Wesco International 18 Q1 Q2 Q3 Q4 FY 2024 63 64 64 63 254 2025 62 64 64 63 253 2026 62 64 64 63 253 2027 62 64 64 63 253
($ Millions) Three Months Ended Growth/(Decline) September 30, 2026 September 30, 2025 Reported Sales Acquisition Foreign Exchange Workday Organic Sales EES $2,772.4 $2,359.6 17.5 % — % (0.3) % — % 17.8 % CSS 2,933.5 2,410.9 21.7 % 0.2 % 0.1 % — % 21.4 % UBS 1,520.5 1,428.6 6.4 % — % (0.2) % — % 6.6 % Total net sales $7,226.4 $6,199.1 16.6 % 0.1 % (0.1) % — % 16.6 % Organic Sales Growth Organic sales growth is a non-GAAP financial measure of sales performance. Organic sales growth is calculated by deducting the percentage impact from acquisitions and divestitures for one year following the respective transaction, fluctuations in foreign exchange rates and number of workdays from the reported percentage change in consolidated net sales. Workday impact represents the change in the number of operating days period-over-period after adjusting for weekends and public holidays in the United States. There was no change in the number of workdays in the third quarter of 2026 compared to the third quarter of 2025 or the second quarter of 2026. ($ Millions) Three Months Ended Growth/(Decline) September 30, 2026 June 30, 2026 Reported Sales Acquisition Foreign Exchange Workday Organic Sales EES $2,772.4 $2,510.7 10.4 % — % (0.3) % — % 10.7 % CSS 2,933.5 2,681.2 9.4 % 0.2 % (0.2) % — % 9.4 % UBS 1,520.5 1,473.2 3.2 % — % (0.1) % — % 3.3 % Total net sales $7,226.4 $6,665.1 8.4 % 0.1 % (0.2) % — % 8.5 % © 2026 Wesco International 19
Gross Profit ($ Millions) Three Months Ended September 30, 2026 September 30, 2025 Net sales $7,226.4 $6,199.1 Cost of goods sold (excluding depreciation and amortization) 5,660.6 4,881.7 Gross profit $1,565.8 $1,317.4 Gross margin 21.7 % 21.3 % 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 20
Business Unit Gross Profit and Gross Margin Electrical and Electronic Solutions (EES) Three Months Ended Gross Profit: September 30, 2026 September 30, 2025 Net sales $2,772.4 $2,359.6 Cost of goods sold (excluding depreciation and amortization) 2,117.9 1,808.9 Gross profit $654.5 $550.7 Gross margin 23.6 % 23.3 % 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 and Security Solutions (CSS) Three Months Ended Gross Profit: September 30, 2026 September 30, 2025 Net sales $2,933.5 $2,410.9 Cost of goods sold (excluding depreciation and amortization) 2,292.8 1,898.6 Gross profit $640.7 $512.3 Gross margin 21.8 % 21.2 % Utility and Broadband Solutions (UBS) Three Months Ended Gross Profit: September 30, 2026 September 30, 2025 Net sales $1,520.5 $1,428.6 Cost of goods sold (excluding depreciation and amortization) 1,249.9 1,174.2 Gross profit $270.6 $254.4 Gross margin 17.8 % 17.8 % ($ Millions) © 2026 Wesco International 21
Free Cash Flow ($ Millions) Three Months Ended Nine Months Ended September 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 Cash flow provided by operations $193.9 $(82.7) $469.0 $53.1 Less: Capital expenditures (29.1) (13.2) (80.7) (55.4) Add: Other adjustments 19.4 6.6 41.6 8.9 Free cash flow $184.2 $(89.3) $429.9 $6.6 Percentage of adjusted net income 64.6 % (45.8) % 63.4 % 1.3 % Free cash flow is a non-GAAP financial measure of liquidity. Capital expenditures are deducted from operating cash flow to determine free cash flow. Free cash flow is available to fund investing and financing activities. For the three and nine months ended September 30, 2026 and 2025, the Company paid for certain costs related to digital transformation and restructuring. Such expenditures have been added back to operating cash flow to determine free cash flow for such periods. Our calculation of free cash flow may not be comparable to similar measures used by other companies. © 2026 Wesco International 22
Net Working Capital - September 30, 2026 ($ Millions) As of Four-quarter Average as of December 31, 2025 March 31, 2026 June 30, 2026 September 30, 2026 September 30, 2026 Trade accounts receivable, net $4,069.6 $4,273.1 $4,685.0 $5,050.2 Inventories 4,008.8 4,213.1 4,418.0 4,687.1 Accounts payable 3,030.5 3,470.5 3,740.3 4,166.1 Net working capital $5,047.9 $5,015.7 $5,362.7 $5,571.2 $5,249.4 Three Months Ended Twelve Months Ended December 31, 2025 March 31, 2026 June 30, 2026 September 30, 2026 September 30, 2026 Net sales $6,068.6 $6,080.1 $6,665.1 $7,226.4 $26,040.2 Average net working capital % of TTM September 30, 2026 net sales 20.2 % Net working capital is a non-GAAP financial measure of short-term liquidity. Net working capital is calculated by subtracting accounts payable from the sum of trade accounts receivable, net and inventories. Net working capital represents our ability to fund our short-term operational expenses. Our calculation of net working capital may not be comparable to similar measures used by other companies. © 2026 Wesco International 23
Net Working Capital - June 30, 2026 ($ Millions) As of Four-quarter Average as of September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 June 30, 2026 Trade accounts receivable, net $4,204.2 $4,069.6 $4,273.1 $4,685.0 Inventories 4,059.1 4,008.8 4,213.1 4,418.0 Accounts payable 3,375.1 3,030.5 3,470.5 3,740.3 Net working capital $4,888.2 $5,047.9 $5,015.7 $5,362.7 $5,078.6 Three Months Ended Twelve Months Ended September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 June 30, 2026 Net sales $6,199.1 $6,068.6 $6,080.1 $6,665.1 $25,012.9 Average net working capital % of TTM June 30, 2026 net sales 20.3 % Net working capital is a non-GAAP financial measure of short-term liquidity. Net working capital is calculated by subtracting accounts payable from the sum of trade accounts receivable, net and inventories. Net working capital represents our ability to fund our short-term operational expenses. Our calculation of net working capital may not be comparable to similar measures used by other companies. © 2026 Wesco International 24
Net Working Capital - March 31, 2026 ($ Millions) As of Four-quarter Average as of June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 March 31, 2026 Trade accounts receivable, net $3,942.8 $4,204.2 $4,069.6 $4,273.1 Inventories 3,971.2 4,059.1 4,008.8 4,213.1 Accounts payable 3,291.4 3,375.1 3,030.5 3,470.5 Net working capital $4,622.6 $4,888.2 $5,047.9 $5,015.7 $4,893.6 Three Months Ended Twelve Months Ended June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 March 31, 2026 Net sales $5,899.6 $6,199.1 $6,068.6 $6,080.1 $24,247.4 Average net working capital % of TTM March 31, 2026 net sales 20.2 % Net working capital is a non-GAAP financial measure of short-term liquidity. Net working capital is calculated by subtracting accounts payable from the sum of trade accounts receivable, net and inventories. Net working capital represents our ability to fund our short-term operational expenses. Our calculation of net working capital may not be comparable to similar measures used by other companies. © 2026 Wesco International 25
Adjusted EBITDA – 3Q 2026 EBITDA and Adjusted EBITDA by Segment ($ Millions) Three Months Ended September 30, 2026 EES CSS UBS Corporate Total Net income attributable to common stockholders $247.2 $275.9 $149.1 $(404.4) $267.8 Net income (loss) attributable to noncontrolling interests 0.4 0.7 — (0.4) 0.7 Provision for income taxes(1) — — — 86.8 86.8 Interest expense, net(1) — — — 93.6 93.6 Depreciation and amortization 13.5 21.8 8.6 8.7 52.6 EBITDA $261.1 $298.4 $157.7 $(215.7) $501.5 Other (income) expense, net (2.8) 13.4 (0.3) (8.4) 1.9 Stock-based compensation expense 0.8 1.6 0.8 17.5 20.7 Digital transformation costs(2) — — — 24.8 24.8 Cloud computing arrangement amortization(3) — — — 12.6 12.6 Adjusted EBITDA $259.1 $313.4 $158.2 $(169.2) $561.5 Adjusted EBITDA margin % 9.3 % 10.7 % 10.4 % 7.8 % (1) The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions. (2) Digital transformation costs include costs associated with certain digital transformation initiatives. (3) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. EBITDA, adjusted EBITDA and adjusted EBITDA margin % are non-GAAP financial measures that provide indicators of the Company's performance and its ability to meet debt service requirements. For the three months ended September 30, 2026, adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization before other non-operating expenses (income), non-cash stock-based compensation expense, digital transformation costs, and cloud computing arrangement amortization. © 2026 Wesco International 26
Adjusted EBITDA – 3Q 2025 ($ Millions) Three Months Ended September 30, 2025 EES CSS UBS Corporate Total Net income attributable to common stockholders $183.2 $191.7 $140.7 $(328.1) $187.5 Net income (loss) attributable to noncontrolling interests 0.3 1.2 — (0.4) 1.1 Provision for income taxes(1) — — — 57.8 57.8 Interest expense, net(1) — — — 99.0 99.0 Depreciation and amortization 12.7 19.3 7.8 9.3 49.1 EBITDA $196.2 $212.2 $148.5 $(162.4) $394.5 Other expense (income), net 1.1 7.0 (0.2) (7.9) — Stock-based compensation expense 1.0 1.3 0.5 7.9 10.7 Digital transformation costs(2) — — — 10.4 10.4 Cloud computing arrangement amortization(3) — — — 9.0 9.0 Restructuring costs(4) — — — (1.6) (1.6) Adjusted EBITDA $198.3 $220.5 $148.8 $(144.6) $423.0 Adjusted EBITDA margin % 8.4 % 9.1 % 10.4 % 6.8 % (1) The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions. (2) Digital transformation costs include costs associated with certain digital transformation initiatives. (3) Cloud computing arrangement amortization consists of expense recognized in SG&A expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. (4) Reduction to restructuring costs represents the reversal of certain severance costs previously incurred pursuant to an ongoing restructuring plan. EBITDA, adjusted EBITDA and adjusted EBITDA margin % are non-GAAP financial measures that provide indicators of the Company's performance and its ability to meet debt service requirements. For the three months ended September 30, 2025, adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization before other non-operating expenses (income), non-cash stock-based compensation expense, digital transformation costs, cloud computing arrangement amortization, and restructuring costs. EBITDA and Adjusted EBITDA by Segment © 2026 Wesco International 27
Adjusted EBITDA – 2Q 2026 ($ Millions) Three Months Ended June 30, 2026 EES CSS UBS Corporate Total Net income attributable to common stockholders $204.1 $232.2 $136.8 $(364.1) $209.0 Net income (loss) attributable to noncontrolling interests 0.2 0.6 — (0.2) 0.6 Provision for income taxes(1) — — — 62.4 62.4 Interest expense, net(1) — — — 110.4 110.4 Depreciation and amortization 13.7 19.8 9.1 8.5 51.1 EBITDA $218.0 $252.6 $145.9 $(183.0) $433.5 Other expense (income), net 12.6 18.7 — (31.5) (0.2) Stock-based compensation expense 0.7 1.6 0.9 15.9 19.1 Digital transformation costs(2) — — — 23.2 23.2 Cloud computing arrangement amortization(3) — — — 11.6 11.6 Adjusted EBITDA $231.3 $272.9 $146.8 $(163.8) $487.2 Adjusted EBITDA margin % 9.2 % 10.2 % 10.0 % 7.3 % (1) The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions. (2) Digital transformation costs include costs associated with certain digital transformation initiatives. (3) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. EBITDA, Adjusted EBITDA and Adjusted EBITDA margin % are non-GAAP financial measures that provide indicators of the Company's performance and its ability to meet debt service requirements. For the three months ended June 30, 2026, Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization before other non-operating expenses (income), non-cash stock-based compensation expense, digital transformation costs, and cloud computing arrangement amortization. EBITDA and Adjusted EBITDA by Segment © 2026 Wesco International 28
Adjusted SG&A - EBITDA - QTD ($ Millions) Three Months Ended September 30, 2026 EES CSS UBS Corporate Total Adjusted SG&A expenses for EBITDA: SG&A expenses $396.2 $328.9 $113.3 $224.0 $1,062.4 Stock-based compensation expense (0.8) (1.6) (0.8) (17.5) (20.7) Digital transformation costs(1) — — — (24.8) (24.8) Cloud computing arrangement amortization(2) — — — (12.6) (12.6) Adjusted SG&A expenses - EBITDA $395.4 $327.3 $112.5 $169.1 $1,004.3 Percentage of net sales 14.3 % 11.2 % 7.4 % 13.9 % ($ Millions) Three Months Ended September 30, 2025 EES CSS UBS Corporate Total Adjusted SG&A expenses for EBITDA: SG&A expenses $353.4 $293.0 $106.2 $170.3 $922.9 Stock-based compensation expense (1.0) (1.3) (0.5) (7.9) (10.7) Digital transformation costs(1) — — — (10.4) (10.4) Cloud computing arrangement amortization(2) — — — (9.0) (9.0) Restructuring costs(3) — — — 1.6 1.6 Adjusted SG&A expenses - EBITDA $352.4 $291.7 $105.7 $144.6 $894.4 Percentage of net sales 14.9 % 12.1 % 7.4 % 14.4 % (1) Digital transformation costs include costs associated with certain digital transformation initiatives. (2) Cloud computing arrangement amortization consists of expense recognized in SG&A expense for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. (3) Reduction to restructuring costs represents the reversal of certain severance costs previously incurred pursuant to an ongoing restructuring plan. For the three months ended September 30, 2026, adjusted SG&A expenses for EBITDA is defined as SG&A expenses before non-cash stock-based compensation expense, digital transformation costs, and cloud computing arrangement amortization. For the three months ended September 30, 2025, adjusted SG&A expenses for EBITDA is defined as SG&A expenses before non-cash stock-based compensation expense, digital transformation costs, cloud computing arrangement amortization, and restructuring costs. © 2026 Wesco International 29
Adjusted SG&A, Income from Operations, Other Expense, Provision for Income Taxes, and Net Income Attributable to Common Stockholders ($ Millions) Three Months Ended September 30, 2026 September 30, 2025 Adjusted SG&A Expenses: SG&A Expenses $1,062.4 $922.9 Digital transformation costs(1) (24.8) (10.4) Restructuring costs(2) — 1.6 Adjusted SG&A expenses $1,037.6 $914.1 Percentage of net sales 14.4 % 14.7 % Adjusted Income from Operations: Income from operations $450.8 $345.4 Digital transformation costs(1) 24.8 10.4 Restructuring costs(2) — (1.6) Adjusted income from operations $475.6 $354.2 Adjusted income from operations margin % 6.6 % 5.7 % Adjusted Other Expense, net: Other expense, net $1.9 $— Pension settlement gain(3) 2.0 — Adjusted other expense, net $3.9 $— Adjusted Provision for Income Taxes: Provision for income taxes $86.8 $57.8 Income tax effect of adjustments to income from operations and other expense, net(4) 6.2 2.4 Adjusted provision for income taxes $93.0 $60.2 Adjusted Net Income Attributable to Common Stockholders: Net income attributable to common stockholders $267.8 $187.5 Digital transformation costs(1) 24.8 10.4 Restructuring costs(2) — (1.6) Pension settlement gain(3) (2.0) — Income tax effect of adjustments to income from operations and other expense, net(4) (6.2) (2.4) Adjusted net income attributable to common stockholders $284.4 $193.9 (1) Digital transformation costs include costs associated with certain digital transformation initiatives. (2) Reduction to restructuring costs represents the reversal of certain severance costs previously incurred pursuant to an ongoing restructuring plan. (3) Pension settlement gain represents income as a result of the partial settlement and remeasurement of the Company's EECOL Canada pension plan. (4) The adjustments to Income from operations have been tax effected at rates of 27.1% and 26.7% for the three months ended September 30, 2026 and 2025, respectively. © 2026 Wesco International 30
Adjusted Earnings Per Diluted Share ($ Millions, except for per share data) Three Months Ended September 30, 2026 September 30, 2025 Adjusted income from operations $475.6 $354.2 Interest expense, net 93.6 99.0 Adjusted other expense, net 3.9 — Adjusted income before income taxes 378.1 255.2 Adjusted provision for income taxes 93.0 60.2 Adjusted net income 285.1 195.0 Net income attributable to noncontrolling interests 0.7 1.1 Adjusted net income attributable to common stockholders $284.4 $193.9 Diluted shares 49.3 49.5 Adjusted earnings per diluted share $5.77 $3.92 For the three months ended September 30, 2026, SG&A expenses, income from operations, other non-operating expense, provision for income taxes, net income attributable to common stockholders, and earnings per diluted share have been adjusted to exclude digital transformation costs, the gain recognized from the partial settlement of the EECOL Canada pension plan, and the related income tax effects. For the three months ended September 30, 2025, SG&A expenses, income from operations, provision for income taxes, net income attributable to common stockholders, and earnings per diluted share have been adjusted to exclude digital transformation costs, restructuring costs, and the related income tax effects. These non-GAAP financial measures provide a better understanding of our financial results on a comparable basis. © 2026 Wesco International 31
Financial Leverage ($ Millions, except ratios) Twelve Months Ended September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Net income attributable to common stockholders $795.8 $715.5 $695.6 $645.8 $631.7 Net income attributable to noncontrolling interests 2.6 3.0 2.6 2.3 1.8 Gain on redemption of Series A Preferred Stock (5.3) (5.3) (32.9) (32.9) (27.6) Preferred stock dividends — — 12.9 27.3 41.6 Provision for income taxes 249.9 221.0 220.4 213.4 199.2 Interest expense, net 409.2 414.5 397.2 386.7 363.4 Depreciation and amortization 206.1 202.6 199.9 197.6 191.5 EBITDA $1,658.3 $1,551.3 $1,495.7 $1,440.2 $1,401.6 Other income, net (1.2) (3.1) (10.1) (9.6) (0.5) Stock-based compensation expense 67.1 57.1 46.4 40.5 38.6 Digital transformation costs(1) 76.5 62.1 46.5 35.2 31.5 Restructuring costs(2) — (1.6) (1.1) — 2.6 Excise taxes on excess pension plan assets(3) — — — — 0.1 Cloud computing arrangement amortization(4) 45.3 41.8 37.3 30.2 24.5 Adjusted EBITDA $1,846.0 $1,707.6 $1,614.7 $1,536.5 $1,498.4 As of September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Short-term debt and current portion of long-term debt, net $24.8 $25.0 $22.8 $25.0 $28.0 Long-term debt, net 5,982.8 5,911.1 5,738.1 5,756.4 5,721.9 Debt discount and debt issuance costs(5) 50.6 49.8 63.6 48.0 51.3 Total debt 6,058.2 5,985.9 5,824.5 5,829.4 5,801.2 Less: Cash and cash equivalents 842.5 808.9 696.6 604.8 571.9 Total debt, net of cash $5,215.7 $5,177.0 $5,127.9 $5,224.6 $5,229.3 Financial leverage ratio 2.8 3.0 3.2 3.4 3.5 (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) 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. (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) Debt is presented in the Condensed Consolidated Balance Sheets net of debt discount and debt issuance costs. Financial leverage ratio is a non-GAAP measure of the use of debt. Financial leverage ratio is calculated by dividing total debt, excluding debt issuance costs, and debt discount, 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 income, non-cash stock-based compensation expense, digital transformation costs, restructuring costs, excise taxes on excess pension plan assets related to the final settlement of the Anixter Inc. Pension Plan, and cloud computing arrangement amortization. © 2026 Wesco International 32