Wesco Intl - WCC STOCK NEWS

Wesco International (NYSE: WCC) has announced that its subsidiary, WESCO Distribution, has priced a private offering of $800 million in senior notes due 2033, increased from the previously announced $600 million. The notes carry a 6.375% interest rate and will be issued at 100% of principal amount, with settlement expected on March 6, 2025.

The net proceeds of approximately $789.5 million will be used to redeem all outstanding 10.625% Series A Preferred Stock and related depositary shares on June 22, 2025, and repay part of its asset-based revolving credit facility. Initially, funds will be used to repay portions of accounts receivable securitization and ABL facilities.

The notes will be unsecured, unsubordinated obligations guaranteed by Wesco and Anixter Inc., offered exclusively to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.

Wesco International (NYSE: WCC) announced that its subsidiary, WESCO Distribution, plans to offer $600 million in senior notes due 2033 to qualified institutional buyers and non-U.S. persons. The company intends to use the proceeds to:

1. Redeem all outstanding 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock and related depositary shares on June 22, 2025

2. Repay a portion of its asset-based revolving credit facility

3. Initially repay outstanding borrowings under its accounts receivable securitization facility

The notes will be unsecured, unsubordinated debt obligations guaranteed by Wesco and its subsidiary Anixter Inc. Wesco is a FORTUNE 500® company with approximately $22 billion in annual sales in 2024, employing around 20,000 people across more than 700 sites in approximately 50 countries. The company provides business-to-business distribution, logistics services, and supply chain solutions across electrical, communications, utility, and broadband sectors.

Wesco International (NYSE: WCC) has officially joined the U.S. Department of Defense's Military Spouse Employment Partnership (MSEP), marking a significant commitment to supporting military families. The partnership, formalized in an induction ceremony on January 29, 2025, aims to provide career opportunities for military spouses.

MSEP has successfully facilitated the hiring of over 340,000 military spouses since its 2011 inception. This initiative complements Wesco's existing military community support programs, including participation in the Department of Defense's SkillBridge program and the company's Veteran's Opportunity Liaison Team (VOLT) business resource group.

Wesco, a FORTUNE 500® company headquartered in Pittsburgh, reported approximately $22 billion in annual sales in 2024. The company employs around 20,000 people and operates more than 700 sites across 50 countries, providing business-to-business distribution, logistics services, and supply chain solutions.

Wesco International (WCC) reported Q4 2024 results with net sales up 0.5% YOY to $5.5 billion and organic sales growth of 2.4%. The company saw over 70% growth in global Data Center business and 20% growth in Broadband Solutions, partially offset by slowdown in industrial customers and utility business.

Q4 diluted EPS was $3.03, with adjusted diluted EPS of $3.16, up 19% YOY. Full-year 2024 results showed net sales down 2.5% YOY to $21.8 billion, with operating profit of $1.2 billion and operating margin of 5.6%. The company achieved record operating cash flow of $1.1 billion in 2024, up from $493 million in 2023.

For 2025, Wesco expects organic sales growth of 2.5% to 6.5%, operating margin expansion, and free cash flow of $600-800 million. The company plans to increase its common stock dividend by 10% to $1.82 per share while continuing share buybacks.

Wesco International (NYSE: WCC) has scheduled its fourth quarter 2024 earnings conference call for Tuesday, February 11 at 10:00 a.m. ET. The company will provide a live audio webcast of the earnings presentation accessible at investors.wesco.com, where related materials will be available before the presentation and a webcast replay afterward.

Investors can join the call through North American toll-free number (1-877-443-5356) or international line (1-412-902-6614). A recording will be available until February 18, 2025, accessible via U.S., Canadian, and International toll numbers with replay code 3914790.

Additionally, Wesco will participate in upcoming investor events: the Raymond James Institutional Investor Conference on March 4 and the J.P. Morgan Industrials Conference on March 12.

Wesco's 2024 Sustainability Report highlights the company's robust ESG oversight and compliance framework. The Board's oversight is distributed among key committees: Audit Committee oversees business ethics and cybersecurity, Compensation Committee handles human capital and safety, and Nominating and Governance Committee manages environmental and supply chain matters.

The Board demonstrates strong diversity metrics with 60% diverse directors, including 30% female representation and 40% racial diversity. Notably, 70% of directors possess environmental and human capital management expertise.

The company's ethics program is built on four pillars: risk assessments, written standards, training, and monitoring. The Code of Business Ethics serves as the foundation, requiring annual certification from all employees. Key policies include Global Anti-Bribery, Human Rights, and Anti-Retaliation measures. In 2023, the company conducted 84 operational audits and enhanced its Business Integrity Line reporting system.

Wesco International has published a comprehensive guide on Greenhouse Gas (GHG) accounting and CDP reporting. The guide outlines a 10-step process for organizations to effectively manage and report their environmental impact, including: understanding GHG Protocol, defining organizational boundaries, calculating emissions across Scopes 1, 2, and 3, data collection and analysis, emission factor selection, carbon footprint calculation, data verification, and CDP submission procedures.

The guide emphasizes the benefits of GHG accounting and CDP reporting, including enhanced transparency, improved risk management, operational efficiency, stakeholder confidence, regulatory compliance, and competitive advantage. It provides detailed instructions for organizations to begin their environmental reporting journey, highlighting the importance of continuous improvement in data quality and emissions reduction efforts.

Wesco International has partnered with Habitat for Humanity to build sustainable homes in Monte Sión, Mexico, donating over $111,000 to the project. The initiative, called Lekil Na' (meaning 'sustainable housing'), focuses on constructing eco-friendly homes for Indigenous families in Chiapas.

The homes feature innovative sustainable elements including biodigesters for wastewater treatment, solar water heaters, and energy-efficient wood stoves. Construction utilizes cement blocks enhanced with RESIN8™, a material made from plastic waste to reduce environmental impact and improve thermal efficiency. The design incorporates local customs, featuring separate kitchen and bathroom areas, with specific layout considerations for smoke management and cultural practices.

Wesco International (NYSE: WCC) has completed its acquisition of Ascent, a St. Louis-based provider of data center facility management services. Ascent brings $115 million in trailing twelve-month sales with a three-year sales CAGR exceeding 30%. The company employs over 300 people across the U.S. and Canada, offering comprehensive site operations services including maintenance, critical systems repairs, and advanced liquid cooling solutions.

The acquisition enhances Wesco's data center solutions portfolio, adding Ascent's expertise in engineering and design-build consultation services, along with their proprietary Navigator platform for infrastructure management. This strategic move strengthens Wesco's end-to-end service capabilities in the data center sector.