WESCO Clocks 17% Revenue Growth In Q4, Tops Street View - WESCO Intl (NYSE:WCC)

WESCO International, Inc. WCC reported fourth-quarter sales growth of 17.5% year-over-year to $4.85 billion, +15.8% on an organic basis, beating the consensus of $4.67 billion.
The gross margin expanded by 120 bps to 20.8%. Adjusted operating income grew 57.6% Y/Y to $270.8 million, and margin expanded by 140 bps to 5.6%.
Adjusted EBITDA was $319.6 million (+48% Y/Y), and adjusted EBITDA margin was 6.6%, up 140 bps.
Adjusted EPS improved to $3.17 (+160% Y/Y), beating the consensus of $2.54.
Electrical & Electronic Solutions sales of $2 billion (+19.6% Y/Y), and adjusted EBITDA margin of 7.5% compared to 5.7% in 4Q20.
Communications & Security Solutions sales of $1.5 billion (+10.6% Y/Y) adjusted EBITDA margin of 8.3% compared to 8.2% in 4Q20.
Utility & Broadband Solutions sales of $1.3 billion (+23% Y/Y) adjusted EBITDA margin of 9.6% compared to 7.3% in 4Q20.
WESCO reported cash flow provided by operations of $67.14 million in FY21, compared to $543.93 million a year ago. Free cash flow was $93.51 million.
FY22 Outlook: WESCO expects a sales increase of 5% - 8% and an adjusted EBITDA margin expanding to 6.7% - 7%.
It expects adjusted EPS to grow in double digits to $11.00 - $12.00 (consensus $11.01) and generate a free cash flow of 100% or more of net income.
Price Action: WCC shares are trading higher by 5.42% at $130.16 on the last check Tuesday.