Shares of WESCO International 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
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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