secwatch.observer — SEC 8-K summary
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Issuer:     WESCO INTERNATIONAL INC (WCC)
CIK:        0000929008
Form:       8-K
Filed at:   2024-02-13T23:59:59+00:00
Accession:  0000929008-24-000003
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wesco Q4 operating profit down 17% YoY; revenue miss; announces dividend hike and revised leverage target
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- Q4 net sales $5.5B (-1.5% YoY); organic sales down 2.6%; adjusted EPS $2.65 vs $4.13 prior year.
- Full year 2023 sales $22.4B (+4.5% YoY); adjusted EBITDA margin 7.6%, down 50 bps.
- 2024 outlook: sales growth 1-4%, adj EBITDA margin 7.5-7.9%, free cash flow $600-800M.
- Board approves 10% dividend increase to $1.65/share annual; leverage target range revised to 1.5x-2.5x.
- CEO calls Q4 disappointing; cites project delays, mixed sector demand; backlog stable vs Sept.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/929008/000092900824000003/0000929008-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/929008/000092900824000003/wcc-20240213.htm
  HTML page:      https://secwatch.observer/filing/0000929008-24-000003

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