Wesco International Inc.
WESCO International Reports First Quarter 2024 Financial Results
Summary
WESCO International, Inc. reported a 3% decline in first-quarter 2024 net sales to $5.35 billion compared to $5.52 billion in the prior year, with organic sales also down 3.2%. The company's operating profit was $263 million, and adjusted EBITDA was 6.4%, down from 7.6% in the previous quarter and 8.6% in the first quarter of 2023. Free cash flow was a strong $731 million, totaling $1.4 billion over the trailing twelve months. Management highlighted healthy backlog and cash flow performance, and maintained their full-year outlook.
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About Wesco International Inc.
Wesco International Inc. is a leading distributor of electrical, industrial, and communications maintenance, repair, and operating (MRO) products. This asset operates at the intersection of various sectors, playing a key role in providing essential supplies to a diverse array of industries, including construction, utility, industrial, and commercial businesses. Wesco International's extensive product portfolio includes electrical and industrial control components, wiring cables, lighting solutions, and safety and security devices. The company stands out for its integrated supply chain and value-added services, such as logistics management, procurement services, and project support, which efficiently cater to customer needs across North America and globally. By delivering comprehensive supply chain solutions, Wesco International enhances operational efficiency and reliability for its clients. Founded in 1922 and headquartered in Pittsburgh, Pennsylvania, Wesco International has established itself as a pivotal player in the B2B distribution industry, underscoring its importance in connecting suppliers and customers with essential goods and services to support infrastructure and project endeavors.
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