secwatch.observer — SEC 8-K summary
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Issuer:     WESCO INTERNATIONAL INC (WCC)
CIK:        0000929008
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0000929008-23-000017
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wesco Q2 sales record $5.7B but adjusted EPS down 11%; lowers FY guidance
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- Net sales record $5.7B (+5% YoY); organic sales +2.8%. Adjusted EPS $3.71 vs $4.19 prior year, down 11%.
- CSS +15.5% (record), UBS +9.2%, but EES declined 5.6% on supply chain rebalancing and weak construction.
- FY 2023 outlook lowered: sales growth 5-7% (prior 6-9%), adj. EBITDA ~$1.8B from ~$1.9B, EPS $15.00-$16.00.
- Raised cross-sell synergy target to $2.0B from $1.8B. $25M annualized cost cuts in EES implemented.
- Free cash flow $293M in Q2 (141% of adj. net income); leverage 2.8x, lowest since Anixter merger.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/929008/000092900823000017/0000929008-23-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/929008/000092900823000017/wcc-20230803.htm
  HTML page:      https://secwatch.observer/filing/0000929008-23-000017

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer