secwatch.observer — SEC 8-K summary
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Issuer:     WESCO INTERNATIONAL INC (WCC)
CIK:        0000929008
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0000929008-24-000010
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/929008/000092900824000010/0000929008-24-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/929008/000092900824000010/wcc-20240502.htm
  HTML page:      https://secwatch.observer/filing/0000929008-24-000010

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