STOCK TITAN

Wesco International Inc. - WCC STOCK NEWS

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.15%
Tags
none
-
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-14.72%
Tags
-
Rhea-AI Summary

Wesco International (NYSE: WCC) is set to hold its 2023 first quarter earnings conference call on May 4, 2023, at 10:00 a.m. ET. Dial-in details for live and replay access are provided in the press release. The company also plans to participate in several key conferences in Q2, including the Oppenheimer Industrial Growth Conference, Wolfe Research Global Transportation & Industrials Conference, and KeyBanc Industrials & Basic Materials Conference.

Headquartered in Pittsburgh, Pennsylvania, Wesco is a FORTUNE 500® company with over $21 billion in annual sales, specializing in business-to-business distribution and supply chain solutions across more than 50 countries. The company employs approximately 20,000 people and operates around 800 branches.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.36%
Tags
Rhea-AI Summary

The Board of Directors of Wesco International (NYSE: WCC) has declared a cash dividend of $664.0625 per Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock share for the period January 1, 2023 to March 31, 2023. The dividend equates to $0.6640625 per depository share and will be payable on March 31, 2023, to shareholders on record as of March 15, 2023. Wesco, headquartered in Pittsburgh, is a FORTUNE 500® company with over $21 billion in annual sales, providing extensive distribution and supply chain solutions worldwide.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.82%
Tags
dividends
-
Rhea-AI Summary

The Board of Directors of Wesco International (NYSE: WCC) has declared its inaugural quarterly cash dividend of $0.375 per share, payable on March 31, 2023, to shareholders on record by March 15, 2023. This decision follows the company's commitment to return capital to shareholders, supported by projected sales growth and margin expansion. The firm also announced a $1 billion share repurchase authorization, highlighting strong cash flow generation. The future dividend declarations will remain under the discretion of the Board.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.82%
Tags
dividends
-
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.14%
Tags
none
Rhea-AI Summary

Wesco International (NYSE: WCC) reported record fourth-quarter net sales of $5.6 billion for 2022, reflecting a 15% year-over-year increase. The full year saw net sales reach $21.4 billion, up 18% YOY. Adjusted EBITDA rose 41% YOY to $451 million with an 8.1% margin. Operating profit was $382 million, with a 6.9% margin, while earnings per diluted share increased to $3.90. The Rahi Systems acquisition positively impacted results, contributing to strong organic sales growth of 14.4% in Q4. Wesco's operating cash flow reached a record $422 million, and free cash flow stood at $399 million, indicating strong liquidity and financial health.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.2%
Tags
none
-
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.85%
Tags
none
-
Rhea-AI Summary

Wesco has been recognized as one of America’s Best-Managed Companies, ranking #173 on the Top 250 list for 2022, published by The Drucker Institute in The Wall Street Journal. Notably, Wesco's score increased by 8.9 points from the previous year, marking the largest improvement in the Industrial Goods sector. This is the first year Wesco appears on the Top 250 list, showcasing its commitment to corporate performance across five dimensions: customer satisfaction, employee engagement, innovation, social responsibility, and financial strength.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.78%
Tags
none
Rhea-AI Summary

Wesco International (NYSE: WCC) will host its fourth quarter and full year 2022 earnings conference call on February 14, 2023, at 10:00 a.m. ET. Dial-in details include a North American number: 1-888-349-0106 and an international number: 1-412-902-0131, with the access code Wesco. Additionally, the company will participate in several key investor conferences in March 2023, such as the Raymond James Institutional Investors Conference and the J.P. Morgan Industrials Conference. Wesco, a FORTUNE 500® firm with annual sales exceeding $18 billion, provides business-to-business distribution and supply chain solutions globally.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.43%
Tags

FAQ

What is the current stock price of Wesco International (WCC)?

The current stock price of Wesco International (WCC) is $178.09 as of December 20, 2024.

What is the market cap of Wesco International (WCC)?

The market cap of Wesco International (WCC) is approximately 8.6B.

What does Wesco International Inc. do?

Wesco International Inc. is a leading provider of business-to-business distribution, logistics services, and supply chain solutions. It offers a wide range of products and services through its three segments: Electrical and Electronic Solutions, Communications and Security Solutions, and Utility and Broadband Solutions.

Where is Wesco International headquartered?

Wesco International is headquartered in Pittsburgh, Pennsylvania.

How many products does Wesco International offer?

Wesco International offers more than 1.5 million products to its customers worldwide.

Who are Wesco International's customers?

Wesco International serves a diverse range of customers, including Fortune 500 companies, small businesses, contractors, government agencies, educational institutions, telecommunications providers, and utility companies.

How many employees does Wesco International have?

Wesco International employs approximately 20,000 people globally.

What recent financial strategies has Wesco International implemented?

Wesco International recently issued $1.5 billion in senior notes to manage debt and optimize financial operations. It also completed the sale of its Wesco Integrated Supply business for $350 million to further strengthen its financial position.

What is Wesco International's annual sales figure?

Wesco International generates more than $22 billion in annual sales.

In how many countries does Wesco International operate?

Wesco International operates in over 50 countries around the world.

What is Wesco International's involvement with Habitat for Humanity?

Wesco International partners with Habitat for Humanity, contributing significant funds to global housing projects and supporting community renovations and home builds in various countries.

What educational initiatives does Wesco International support?

Wesco International supports the Tom Fox Family JA BizTown® program in Michigan, which educates young students on economics and business principles, reflecting the company's commitment to community development and future talent.

Wesco International Inc.

NYSE:WCC

WCC Rankings

WCC Stock Data

8.58B
46.87M
1.67%
95.72%
2.47%
Industrial Distribution
Wholesale-electrical Apparatus & Equipment, Wiring Supplies
Link
United States of America
PITTSBURGH