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WESCO International Inc WCC

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Wesco Raises 2021 Guidance After Strong Q1 Results; Synergies and Debt-Reduction Goals on Target

Analyst Note

| Brian Bernard, CFA, CPA |

Wesco International reported strong first-quarter results that featured solid adjusted revenue growth and margin expansion that exceeded our expectations. Pro forma revenue of approximately $4 billion, which was about in line with the FactSet consensus estimate, increased 3% year over year after adjusting for the Anixter acquisition and two fewer workdays compared with the prior-year quarter. Wesco's adjusted operating margin expanded 70 basis points to 4.2% (compared with pro forma prior-year results) and adjusted EPS of $1.43 blew past the $0.80 consensus estimate.

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Company Profile

Business Description

Wesco International is a value-added industrial distributor that has three reportable segments, electrical and electronic solutions, communications and security solutions, and utility and broadband solutions. The company offers more than 1.5 million products to its 125,000 active customers through a distribution network of 800 branches, warehouses, and sales offices, including 42 distribution centers. Wesco generates 75% of its sales in the United States, but the company has a global reach, with operations in 50 other countries.

Contact
225 West Station Square Drive, Suite 700
Pittsburgh, PA, 15219
T +1 412 454-2200
Sector Industrials
Industry Industrial Distribution
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type Cyclical
Employees 18,000

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