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 $4.9 billion for Q1 2022, achieving a 22% year-over-year increase. The company had an organic sales growth of 21.2% and a record backlog, up more than 90% YOY. Operating profit rose to $284 million, with an operating margin of 5.8%. Wesco also raised its full-year outlook for adjusted earnings per share to $14.00-$15.00, reflecting robust anticipated growth. Adjusted earnings per diluted share reached $3.63, a 154% increase YOY.
Wesco International (NYSE: WCC) will conduct its Q1 2022 earnings conference call on May 5, 2022, at 10:00 a.m. ET. Investors can access the live audio webcast and presentation slides via the company's website. The call will also be available for replay starting May 5, 2022, at 12:00 p.m. ET until May 12, 2022, at 12:00 p.m. ET. Additionally, Wesco will participate in the KeyBanc Industrials & Basic Materials Conference on June 1.
The Board of Directors of Wesco International (NYSE: WCC) declared a cash dividend of $664.0625 per preferred share for the period January 1, 2022 to March 31, 2022. This amounts to $0.6640625 per depository share, payable on March 31, 2022, to holders of record by the close of business on March 15, 2022. Wesco, headquartered in Pittsburgh, is a FORTUNE 500® company with over $18 billion in annual sales and serves thousands of customers globally, including more than 90% of FORTUNE 100® companies.
WESCO International (WCC) reported record net sales of $4.9 billion for Q4 2021, marking a 17.5% year-over-year increase. The company achieved an operating profit of $220.3 million, with a gross margin of 20.8%, up 120 basis points YOY. For the full year, net sales reached $18.2 billion, primarily driven by the Anixter merger. Adjusted earnings per share rose to $3.17, up 160% YOY. The backlog increased by over 80% year-over-year, indicating strong demand. WESCO anticipates continued growth in 2022, with sales expected to increase by 5%-8%.
WESCO International, Inc. (NYSE: WCC) will host its fourth quarter and full-year 2021 earnings conference call on February 15, 2022, at 10:00 a.m. ET. Participants can access the live broadcast and presentation on the company's investor relations website. Additionally, WESCO will be partaking in the Raymond James' 2022 Institutional Investors Conference and the J.P. Morgan Industrials Conference in March. The press release highlights WESCO's significant presence as a leading distribution and logistics solutions provider, generating over $16 billion in pro forma sales in 2020.
The Board of Directors of WESCO International, Inc. (NYSE: WCC) has declared a cash dividend on the 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock. For the period from October 1, 2021, to December 31, 2021, the dividend amounts to $664.0625 per preferred share, or $0.6640625 per depository share. This payment is set for December 31, 2021, to shareholders on record by the close of business on December 15, 2021.
WESCO International (NYSE: WCC) reported record net sales of $4.7 billion for Q3 2021, up 14.2% year-over-year, with organic sales growth of 13.6%. Operating profit reached $229.5 million, showing a 28.8% increase from Q3 2020, and adjusted earnings per diluted share improved by 65% to $2.74. The company raised its full-year outlook for adjusted EPS to between $9.20 and $9.40. A backlog increase of over 60% and effective cost measures contributed to strong performance amid ongoing digital transformation initiatives.
WESCO International, Inc. (NYSE: WCC) will host its third quarter 2021 earnings conference call on November 4 at 10:00 a.m. ET. Investors can access the live webcast and presentation slides on WESCO's website. Additionally, WESCO will attend the Baird 2021 Global Industrial Conference on November 10 and the Stephens Annual Investment Conference on December 2. With pro forma annual sales over $16 billion and a global presence in over 50 countries, WESCO continues to enhance its distribution and logistics services.
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