earnings
confidence high
sentiment positive
materiality 0.85
Wesco Q1 record sales $4.9B (+22% YoY); adj. EPS $3.63, up 154%; raises FY2022 adj. EPS outlook to $14-15
WESCO INTERNATIONAL INC
2022-Q1 EPS reported
$3.19
revenue$4,932,181,000
- Net sales $4.9B, +22% YoY; organic growth 21.2%; record backlog up >90% YoY and 25% sequentially.
- Adjusted EPS $3.63, up 154% YoY; GAAP EPS $3.19. Adjusted EBITDA $364M, margin 7.4% (+200 bps).
- Raising FY2022 outlook: adj. EPS $14.00-$15.00, sales growth 12%-15%, adj. EBITDA margin 7.3%-7.6%.
- All three segments (EES, CSS, UBS) delivered double-digit sales and profit growth; EES sales +21.5%, UBS +31.6%.
- Leverage improved to 3.6x adjusted EBITDA, down from 5.7x at Anixter close; free cash flow guidance set at 80% of adj. net income.