Market Overview

WESCO International: Q2 Earnings Insights

Share:

Shares of WESCO International (NYSE:WCC) rose 3% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share decreased 28.28% year over year to $1.04, which beat the estimate of $0.66.

Revenue of $2,087,000,000 decreased by 2.93% year over year, which beat the estimate of $1,900,000,000.

Looking Ahead

WESCO International hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Aug 13, 2020

Time: 10:00 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=&eventid=2551214&sessionid=1&key=A67E3BC5C43C3D1AF836DDE872492C36&regTag=&sourcepage=register

Recent Stock Performance

52-week high: $61.32

52-week low: $13.52

Price action over last quarter: Up 62.89%

Company Overview

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.

 

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Posted-In: Earnings News