Welcome to our dedicated page for Wesco Intl news (Ticker: WCC), a resource for investors and traders seeking the latest updates and insights on Wesco Intl stock.
News about Wesco International, Inc. (NYSE: WCC) centers on its role as a FORTUNE 500 provider of business-to-business distribution, logistics services, and supply chain solutions. Company announcements describe how Wesco builds, connects, powers and protects the world through its Electrical and Electronic Solutions, Communications and Security Solutions, and Utility and Broadband Solutions business units.
Visitors to this news page can review press releases on Wesco’s financial performance, including quarterly results where the company reports net sales, segment performance, margins, cash flow, and backlog trends. Earnings updates often highlight organic sales growth, data center-related sales within the Communications and Security Solutions segment, and developments in utility and infrastructure-related business.
Wesco’s news flow also includes board and leadership updates, such as the appointment of new independent directors and planned retirements in accordance with corporate governance guidelines. Announcements may cover changes in leadership for specific segments like Electrical and Electronic Solutions, along with related disclosures in SEC filings.
Dividend declarations are another recurring topic, with the board of directors issuing press releases when it approves quarterly cash dividends on Wesco’s common stock. These items specify the dividend amount and relevant record and payment dates.
In addition, Wesco publishes news about collaborations and technology initiatives that affect its operations and customer offerings. Examples include partnerships to modernize finance processes and investments in platforms that support construction materials management and supply chain visibility. Together, these updates provide insight into how Wesco manages its global network of more than 700 sites in approximately 50 countries and serves customers across commercial, industrial, education, government, technology, telecommunications, and utility sectors.
Investors, analysts, and other stakeholders can use this news stream to follow Wesco’s operational developments, governance changes, capital allocation actions, and technology-driven initiatives over time.
Wesco's 2024 Sustainability Report highlights the company's focus on employee engagement and creating a valued work environment. Key findings from their 2023 employee survey include:
- 86% of employees noted a strong commitment to ethical conduct
- 83% rated safety and working conditions favorably
- 81% reported positive relationships with managers
The company's turnover rate in 2023 was 22.7%. Wesco implemented several initiatives to boost engagement, including the WOW recognition program, Lean principle awards, and a Culture of Coaching. The report also details Wesco's performance management system, myPerformance, and their enhanced Leadership and Organization Review process for talent development and succession planning.
Wesco International (NYSE: WCC) has declared quarterly cash dividends on its common and preferred stock. The Board of Directors announced a $0.4125 per share dividend on common stock, payable on September 30, 2024, to shareholders of record as of September 13, 2024. Additionally, a dividend of $664.0625 per preferred share ($0.6640625 per depository share) was declared on the 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock for the period July 1, 2024, through September 30, 2024, with the same payment and record dates.
Wesco, a FORTUNE 500® company headquartered in Pittsburgh, Pennsylvania, reported annual sales exceeding $22 billion. The company specializes in business-to-business distribution, logistics services, and supply chain solutions across various sectors, employing approximately 20,000 people and operating nearly 800 branches in over 50 countries.
Wesco International has released its 2024 Sustainability Report, highlighting its Inclusion and Diversity (I&D) initiatives. The company emphasizes that I&D is fundamental to its high-performing culture, contributing to a stronger workforce and better company at all levels. Wesco's I&D program goals include:
- Leveraging diverse experiences to support the company's mission
- Building an inclusive culture
- Recruiting diverse talent
- Increasing representation of diverse suppliers
- Supporting local communities
Wesco has received recognition for its I&D efforts, including inclusion in the Bloomberg Gender-Equality Index since 2019 and being named one of the 30 Best Companies to Work for Latinos in 2023. The company offers 797 different I&D training course modules and employees completed an estimated 6,429 hours of I&D training in 2023. Wesco also supports various Business Resource Groups (BRGs) to foster inclusion and diversity within the organization.
Wesco International's 2024 Sustainability Report highlights the company's commitment to its employees and sustainable practices. The report emphasizes:
- Creating a workplace culture that attracts and retains diverse, highly qualified talent
- Implementing Global Human Rights Principles aligned with international standards
- Fostering inclusion and diversity through Business Resource Groups (BRGs)
- Conducting annual employee engagement surveys to drive improvements
- Prioritizing employee growth, career development, and community impact
Wesco's approach integrates respect for human rights in its global operations and supply chain, focusing on inclusion, dignity, and cultural respect. The company's Vice-President of Global Inclusion, Diversity and Engagement, Darryl Castellano, emphasizes the importance of listening to employees and acting on their feedback to create meaningful change.
Wesco International (NYSE: WCC) reported its Q2 2024 results, with net sales down 4.6% YOY to $5.5 billion and organic sales down 0.8% YOY. The company's operating profit was $324 million with an operating margin of 5.9%. Gross margin improved to 21.9%, up 30 basis points YOY. Wesco completed the divestiture of Wesco Integrated Supply (WIS) and used the proceeds for $300 million in share repurchases. The company generated $523 million in operating cash flow for the first half of 2024. Due to a mixed economic environment and customer purchasing delays, Wesco revised its full-year outlook, now expecting organic sales growth of -1.5% to 0.5% and adjusted EBITDA margin of 7.0% to 7.3%.
Wesco celebrated its annual Day of Caring, a significant event deeply rooted in the company's culture. The initiative encouraged employees to give back to their communities and learn about local volunteering opportunities. Employees were informed about the company's matching gifts program, paid volunteer time off, and corporate support for organizations like the American Red Cross and Habitat for Humanity.
The event highlighted Wesco's commitment to corporate social responsibility, with team members sharing their personal experiences of community service. This celebration of giving back demonstrates Wesco's dedication to making a positive impact beyond its business operations, fostering a culture of care and community engagement among its workforce.
Wesco, a leading business-to-business distribution and supply chain solutions provider, has been recognized as a 'Best Place to Work for Disability Inclusion' with a perfect score of 100 on the 2024 Disability Equality Index®. This prestigious recognition, awarded by Disability:IN and The American Association of People with Disabilities (AAPD), highlights Wesco's commitment to fostering an inclusive workplace.
The assessment evaluated various aspects including culture, leadership, accessibility, employment practices, community engagement, and supplier diversity. Wesco's ABLE business resource group has been instrumental in supporting the company's progress in disability inclusion. Darryl Castellano, VP of Global Inclusion, Diversity and Engagement at Wesco, emphasized the company's dedication to creating an environment where every individual is valued and empowered, ultimately driving innovation and excellence in serving global customers.
Wesco International (NYSE: WCC) has announced its second quarter 2024 earnings call scheduled for August 1 at 10:00 a.m. ET. Interested parties can access the live audio webcast and related materials on their investor relations website. Additionally, Wesco will host its 2024 Investor Day on September 26, with more details to be posted online soon. The company will also participate in key industry conferences, including the KeyBanc Technology Leadership Forum on August 6, the Raymond James Industrial and Energy Showcase on August 8, and the Jefferies Industrials Conference on September 4. Wesco, a Fortune 500 company, reported over $22 billion in annual sales and operates nearly 800 branches worldwide, offering a comprehensive range of distribution, logistics, and supply chain solutions.
Wesco International (NYSE: WCC) has been certified as a Great Place to Work® in the U.S., based on employee feedback. According to a survey conducted by the Great Place to Work organization, 73% of Wesco employees believe the company is a great place to work, significantly higher than the 57% average of other U.S. companies. Management received high marks for fair treatment of employees regardless of race, gender, or sexual orientation, and 95% of employees reported that Wesco is a physically safe place to work. Other notable findings include 90% of employees feeling they can take time off when necessary, and 84% feeling welcomed when they joined the company. This certification underscores Wesco's commitment to fostering a supportive and inclusive work environment.
On June 20, Wesco held its annual Day of Caring, celebrating community commitment and announcing the inaugural Wesco Cares Champion of the Year Award. Nearly 4,000 employees and over 50 nonprofit partners participated globally, logging over 1,200 volunteer hours and donating more than $86,000 with company matches. The event highlighted Wesco's programs for matching gifts, paid volunteer time off, and corporate giving to organizations like the American Red Cross and Habitat for Humanity.
Dipal Pater, Senior Strategic Account Manager from Carol Stream, Illinois, received the inaugural Wesco Cares Champion of the Year Award for her extensive volunteer work with the Girl Scouts, Electrical Association of Chicago, Feed My Starving Children, and others. Dipal will donate her $2,500 award to the Electrical Association of Chicago for an education foundation scholarship.
Chris Wolf, Executive VP, praised the event and Dipal's dedication, emphasizing Wesco's commitment to community impact.