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WESCO International Inc WCC

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Morningstar’s Analysis

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Wesco's Q3 Results Exceed Our Expectations as Anixter Merger Continues to Bear Fruit

Analyst Note

| Brian Bernard, CFA, CPA |

Wesco International reported strong third-quarter results that exceeded our revenue growth and profit margin expectations. Demand remained robust across Wesco's end markets, and profitability was boosted by ongoing gross margin improvement initiatives and cost synergies derived from the June 2020 merger with Anixter International. In our view, Wesco's third-quarter performance was even more impressive when considering that supply chain disruptions and soaring inflation have created a more challenging operating environment for many industrials companies. The quarter's results tell us that Wesco has been navigating these headwinds relatively well.

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Company Profile

Business Description

Wesco International is a value-added industrial distributor that has three reportable segments, electrical and electronic solutions, communications and security solutions, and utility and broadband solutions. The company offers more than 1.5 million products to its 125,000 active customers through a distribution network of 800 branches, warehouses, and sales offices, including 42 distribution centers. Wesco generates 75% of its sales in the United States, but it has a global reach, with operations in 50 other countries.

Contact
225 West Station Square Drive, Suite 700
Pittsburgh, PA, 15219
T +1 412 454-2200
Sector Industrials
Industry Industrial Distribution
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Cyclical
Employees 18,000

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