WESCO Revises Earnings Guidance - Quick Facts

(RTTNews) - WESCO International, Inc. (WCC) said it achieved record sales in the second quarter due to the continued strength in Canada, Utility and Datacom offset by slower growth than anticipated in the U.S. Operating margin increased 30 basis points, while EPS grew 19% from prior year. As a result of lower market growth rate expectations in the company's end markets, WESCO revised 2019 outlook.

For 2019, the company now expects sales growth of 1% to 4%, operating margin of 4.2% to 4.5%, and EPS of $5.00 to $5.60. Previously, the company projected sales growth of 3% to 6%, operating margin of 4.3% to 4.7%, and EPS of $5.10 to $5.70. Analysts polled by Thomson Reuters expect the company to report profit per share of $5.40. Analysts' estimates typically exclude special items.

For the second-quarter, earnings per share was $1.45, compared to $1.22, last year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $1.43, for the quarter.

Second-quarter net sales were $2.2 billion, compared to $2.1 billion, a year ago, an increase of 2.2%. Analysts expected revenue of $2.18 billion for the quarter. Organic sales grew 1.9%, for the quarter.