Wesco reports record Q1: sales $5.5B (+12%), adj. EPS $3.75, reaffirms FY23 outlook

WESCO INTERNATIONAL INC

2023-Q1 EPS reported $3.48 revenue$5,521,900,000

Net sales $5.5B (+12% YoY, organic +10.8%); gross margin 21.9% (+60bps).
Adjusted diluted EPS $3.75 (+3% YoY); adjusted EBITDA $421M (+16%) with margin 7.6%.
CSS sales +20.8% (organic +13.3%), UBS +17.5% (organic +18.2%), EES +2.2%.
Backlog +21% YoY; reaffirms FY23 mid-to-high single-digit sales growth, FCF $600-800M.
Operating cash outflow of $255M on working capital build; expects leverage below 2.5x by year-end.

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 0.95

WESCO INTERNATIONAL INC reported first quarter of 2023 results: revenue $5.5 billion, EPS $3.48. Guidance reaffirmed.

Period: first quarter of 2023
Revenue: $5.5 billion
EPS: $3.48
Guidance: reaffirmed
Result: reported results

Exact text from the filing

15219 Wesco International Reports Record First Quarter 2023 Results • Record first quarter sales, gross margin, operating profit, and earnings per diluted share • Net sales of $5.5 billion, up 12% YOY – Organic sales growth of 11% YOY • Operating profit of $346 million; operating margin of 6.3% – Adjusted EBITDA of $421 million, up 16% YOY; adjusted EBITDA margin

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Source: SEC EDGAR

accession 0000929008-23-000009

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