Wesco Q1 net sales $5.4B (-3% YoY); operating profit $263M (-24%); free cash flow $731M record

WESCO INTERNATIONAL INC

2024-Q1 EPS reported $1.95 revenue$5,350,000,000

Net sales $5.4B, down 3.1% YoY; organic sales -3.2%; diluted EPS $1.95 vs $3.48; adjusted EPS $2.30 vs $3.75.
Operating profit $263M, down 24.1%; adjusted EBITDA margin 6.4% vs 7.6% YoY, down 120 bps.
Record free cash flow $731M in Q1, $1.4B TTM; financial leverage 2.6x vs 2.8x sequentially.
Full-year FCF guidance raised to $800M-$1B; maintained sales, margin and adjusted EPS outlook; $300M divestiture proceeds for share repurchases.
Backlog -10% YoY but +1% sequentially; gross margin 21.3% vs 21.9% YoY.

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 0.9

WESCO INTERNATIONAL INC reported the first quarter of 2024 results: revenue $5.4 billion. Guidance reaffirmed.

Period: the first quarter of 2024
Revenue: $5.4 billion
Guidance: reaffirmed
Result: reported results

Exact text from the filing

unique global capabilities and scale.” The following are results for the three months ended March 31, 2024 compared to the three months ended March 31, 2023: • Net sales were $5.4 billion for the first quarter of 2024 compared to $5.5 billion for the first quarter of 2023, a decrease of 3.1%. Organic sales for the first quarter of 2024 declined by 3.2%, as

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Source: SEC EDGAR

accession 0000929008-24-000010

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