Welcome to our dedicated page for Wesco International news (Ticker: WCC), a resource for investors and traders seeking the latest updates and insights on Wesco International stock.
Wesco International Inc. (NYSE: WCC), headquartered in Pittsburgh, Pennsylvania, has been a cornerstone in the business-to-business distribution and supply chain industry since its founding in 1922. Originally a division of Westinghouse Electric, Wesco has evolved into a global leader, offering a comprehensive suite of products and services that cater to various sectors including electrical, OEM, capital projects, and MRO needs.
The company operates across three major segments: Electrical and Electronic Solutions, Communications and Security Solutions, and Utility and Broadband Solutions. With approximately 800 branches, warehouses, and sales offices worldwide, including 43 distribution centers, Wesco serves around 140,000 active customers. The company's extensive portfolio features over 1.5 million products from industry-leading brands, ensuring that customers—ranging from Fortune 500 companies to small businesses—receive the support and resources they need for their projects.
Wesco's commitment to innovation and superior service is evident in its recent initiatives and partnerships. The company has announced the issuance of $1.5 billion in senior notes to manage debt and optimize financial operations. Additionally, Wesco's partnership with Habitat for Humanity underscores its dedication to corporate social responsibility, contributing significant funds to global housing projects.
The company is also expanding its educational outreach through programs like the Tom Fox Family JA BizTown® in Michigan, which educates young students on economics and business principles. This initiative reflects Wesco's broader strategy to invest in community development and future talent.
Financially, Wesco is robust, boasting over $22 billion in annual sales and maintaining a solid presence in more than 50 countries. Recent divestitures, such as the sale of its Wesco Integrated Supply (WIS) business to Vallen Distribution for $350 million, are part of a strategic focus on high-growth areas. The proceeds from these transactions are earmarked for debt reduction and share repurchases, further strengthening Wesco's financial position.
In summary, Wesco International Inc. is a dominant player in the industrial distribution sector, known for its expansive product range, strategic partnerships, and strong financial health. The company continues to build on its nearly century-long legacy, adapting to market changes and customer needs with innovative solutions and a global reach.
Wesco International (NYSE: WCC) reported record net sales of $5.5 billion for Q2 2022, a 19% year-over-year increase. Organic sales growth reached 21% with a record backlog of over 80% year-over-year. Operating profit surged 69% to $371 million and adjusted EBITDA was $444 million, up 44%. The company raised its 2022 adjusted EPS outlook to $15.60 to $16.40, indicating a 55% to 65% increase from the prior year, driven by strong demand and strategic business execution.
Wesco International (NYSE: WCC) is set to hold its second quarter 2022 earnings conference call on August 4, 2022, at 10:00 a.m. ET. The live audio webcast and presentation will be available on the investor relations section of Wesco's website. Additionally, an Investor Day is scheduled for September 7, 2022, where management will detail business strategy and the acquisition of Anixter International. Wesco will also participate in key industry conferences in August and September.
Wesco is celebrating its 100th anniversary and the second anniversary of its merger with Anixter. The company, led by CEO John Engel, emphasizes its commitment to stakeholder value through strategic partnerships. Wesco is launching 'Wesco Cares', a philanthropy program with a $5 million commitment to community initiatives, underscoring its dedication to corporate social responsibility. The firm, headquartered in Pittsburgh, operates globally with over $18 billion in annual sales and a portfolio that serves various industries including government, utilities, and telecommunications.
WESCO International (NYSE: WCC) announced the retirement of Theodore A. Dosch, Executive Vice President and Chief Transformation Officer, effective August 5, 2022. Dosch played a significant role in integrating WESCO and Anixter since June 2020. John J. Engel, Chairman and CEO, expressed gratitude for his contributions and leadership during this period. Headquartered in Pittsburgh, WESCO is a FORTUNE 500® company with over $18 billion in annual sales, providing a wide range of business-to-business distribution and supply chain solutions across various sectors.
The Board of Directors of Wesco International (NYSE: WCC) declared a cash dividend of
Wesco International (NYSE: WCC) announced a new $1 billion share repurchase program, underscoring its confidence in long-term growth and robust free cash flow generation. This initiative follows the company's integration with Anixter and aims to enhance shareholder value. The program allows for various repurchase methods, including open market and negotiated transactions, without a fixed acquisition commitment. Wesco, headquartered in Pittsburgh, reported over $18 billion in annual sales and serves a wide range of clients, including over 90% of FORTUNE 100® companies.
Wesco International (NYSE: WCC) reported record net sales of $4.9 billion for Q1 2022, achieving a 22% year-over-year increase. The company had an organic sales growth of 21.2% and a record backlog, up more than 90% YOY. Operating profit rose to $284 million, with an operating margin of 5.8%. Wesco also raised its full-year outlook for adjusted earnings per share to $14.00-$15.00, reflecting robust anticipated growth. Adjusted earnings per diluted share reached $3.63, a 154% increase YOY.
Wesco International (NYSE: WCC) will conduct its Q1 2022 earnings conference call on May 5, 2022, at 10:00 a.m. ET. Investors can access the live audio webcast and presentation slides via the company's website. The call will also be available for replay starting May 5, 2022, at 12:00 p.m. ET until May 12, 2022, at 12:00 p.m. ET. Additionally, Wesco will participate in the KeyBanc Industrials & Basic Materials Conference on June 1.
The Board of Directors of Wesco International (NYSE: WCC) declared a cash dividend of $664.0625 per preferred share for the period January 1, 2022 to March 31, 2022. This amounts to $0.6640625 per depository share, payable on March 31, 2022, to holders of record by the close of business on March 15, 2022. Wesco, headquartered in Pittsburgh, is a FORTUNE 500® company with over $18 billion in annual sales and serves thousands of customers globally, including more than 90% of FORTUNE 100® companies.
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