WCC - WESCO International: Selloff Looks Like An Overreaction

2024-02-14 12:15:29 ET

Summary

• WESCO International, Inc. shares plummeted 30% after softer Q4 earnings, despite a stable 2024 outlook.
• WESCO is a B2B distribution company with $22 billion in sales and operations in 50 countries.
• The decline in WESCO International's share price appears to be an overreaction, as shares trade at a mere 10 times earnings, and I find comfort in the 2024 guidance.

Shares of WESCO International, Inc. ( WCC ) have imploded following the release of softer fourth quarter earnings , and while the company now guides for stable results into 2024, investors vote with their feet and sent shares down some 30% (albeit from record highs)....

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