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WESCO International Inc WCC

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Morningstar’s Analysis

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Wesco's Q2 Results Beat Market Expectations, but the Firm's Prospects Are Still Underappreciated

Analyst Note

| Brian Bernard, CFA, CPA |

Wesco's stock surged on Aug. 13 after the firm reported second-quarter results that topped Capital IQ consensus estimates. Additionally, the company reported improving revenue growth trends, and its efforts to integrate recently merged Anixter International (completed June 22) are on target.

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Company Profile

Business Description

Wesco International is a value-added industrial distributor that operates across four distinct end markets: industrial (36% of sales), construction (33%), utility (16%), and commercial, institutional, and government (15%). The company offers more than 1 million products to its 70,000 active customers through a distribution network of 500 branches and 10 distribution centers. Although Wesco generates almost all of its sales in North America, the company has a global reach, with operations in 15 other countries. After Wesco acquires Anixter in 2020, the firm's pro forma revenue will increase to over $17 billion, and the combined entity will easily surpass W.W. Grainger as the largest industrial distributor in the United States.

Contact
225 West Station Square Drive, Suite 700
Pittsburgh, PA, 15219
T +1 412 454-2200
Sector Industrials
Industry Industrial Distribution
Most Recent Earnings Jun 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type Cyclical
Employees 18,000

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