Wesco Q3 revenue $5.4B +15% YoY, adj. EPS $4.49 +64%, backlog record up >60%

WESCO INTERNATIONAL INC

2022-Q3 EPS reported $11.42 revenue$15,861,622,000

Net sales $5.4B (+15% YoY); organic growth 17%; record backlog up >60% YoY.
Record operating profit $402M (+75% YoY); gross margin 22.1% (+80 bps); adj. EBITDA margin 8.6% (+160 bps).
Adj. EPS $4.49 (+64% YoY, +7% seq.); GAAP EPS $4.30.
Leverage improved to 3.2x (down 0.2x); closed Rahi Systems acquisition Nov 1.
Narrowed FY2022 adj. EPS outlook to $15.80-$16.20; adj. EBITDA margin ~7.9-8.0%.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

WESCO INTERNATIONAL INC reported the third quarter of 2022 results: revenue $5.4 billion, EPS $4.30 per diluted share.

Period: the third quarter of 2022
Revenue: $5.4 billion
EPS: $4.30 per diluted share
Result: reported results

Exact text from the filing

Wesco International Reports Third Quarter 2022 Results • Net sales of $5.4 billion, up 15% YOY – Organic sales growth of 17% – Record backlog as of September 30, 2022, up more than 60% YOY and up approximately 5% sequentially • Record operating profit of $402 million, up 75% YOY; operating margin of 7.4%, up 250 basis points YOY – Record gross margin of 22.1%, up 80 basis points YOY and up 40 basis points sequentially – Record adjusted operating profit of $415 million, up 48% YOY; record adjusted operating margin of 7.6%, up 170 basis points YOY and 50 basis points sequentially – Record adjusted EBITDA of $466 million, up 41% YOY; record adjusted EBITDA margin of 8.6%, up 160 basis points YOY and 50 basis points sequentially • Record earnings per diluted share of $4.30 – Adjusted earnings per diluted share of $4.49, up 64% YOY and 7% sequentially • Leverage of 3.2x; improved 0.2x sequentially • Rahi Systems acquisition closed on November 1, 2022 • Narrowing 2022 outlook for adjusted ea

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Source: SEC EDGAR

accession 0000929008-22-000038

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