Wesco Q2 net sales $5.5B (record), adj EPS $4.19 (beat); FY22 adj EPS guidance raised to $15.60-16.40

WESCO INTERNATIONAL INC

2022-Q2 EPS reported $7.15 revenue$10,415,706,000

Record net sales of $5.5B, up 19% YoY; organic sales +21%; record backlog up >80% YoY.
Record operating profit $371M (+69% YoY); operating margin 6.8% (+200 bps); record gross margin 21.7%.
Record adjusted diluted EPS $4.19 (+59% YoY, +15% sequentially); GAAP EPS $3.95.
Raised FY22 adj EPS outlook to $15.60-$16.40 (up 55-65% YoY); adj EBITDA margin 7.8%-8.0%.
Leverage improved to 3.4x (down 0.2x sequentially); operating cash outflow $132.6M from working capital.

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