WESCO Q3 net sales $5.6B, up 4% YoY; adj. EPS $4.49 flat; leverage 2.7x; FY outlook tightened

WESCO INTERNATIONAL INC

2023-Q3 EPS reported $11.08 revenue$16,911,800,000

Q3 net sales $5.6B (+4% YoY, organic +3%); gross margin 21.6% flat sequentially.
Adj. EBITDA $457M (8.1% margin, +40bps seq); GAAP EPS $4.20, adj. EPS $4.49 (flat YoY).
Operating cash flow $362M; free cash flow $357M (143% of adj. net income).
Leverage ratio 2.7x, lowest since Anixter merger; raised cross-sell synergy target to $2.2B.
FY23 guidance: net sales growth ~5% (low-end); EPS $15.60-$16.10 (up due to lower tax rate); FCF $500-$700M unchanged.

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 the third quarter of 2023 results: revenue $5.6 billion, EPS $4.20.

Period: the third quarter of 2023
Revenue: $5.6 billion
EPS: $4.20
Result: reported results

Exact text from the filing

Wesco International Reports Third Quarter 2023 Results • Net sales of $5.6 billion, up 4% YOY – Organic sales growth of 3% YOY • Operating profit of $381 million; operating margin of 6.7% – Adjusted EBITDA of $457 million; adjusted EBITDA margin of 8.1%, up 40 basis points sequentially – Gross margin of 21.6%, flat sequentially • Earnings per diluted share of $4.20

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Source: SEC EDGAR

accession 0000929008-23-000021

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