WCC - WESCO Non-GAAP EPS of $3.71 misses by $0.74 revenue of $5.75B misses by $180M
2023-08-03 06:07:07 ET
- WESCO press release ( NYSE: WCC ): Q2 Non-GAAP EPS of $3.71 misses by $0.74 .
- Revenue of $5.75B (+4.9% Y/Y) misses by $180M .
- Wesco is now expecting reported net sales growth of 5%-7% versus 6%-9% prior largely driven by market weakness in certain sectors of the Electrical and Electronic Solutions business unit. EBITDA margins are forecast to be 7.8%-8.0% versus 8.1%-8.4% prior primarily due to the lower sales range. At the mid-point of the guidance range, adjusted EBITDA is approximately $1.8 billion versus $1.9 billion prior. Earnings per share is now forecast to be $15.00-$16.00. The company's free cash flow outlook is $500-$700 million.
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WESCO Non-GAAP EPS of $3.71 misses by $0.74, revenue of $5.75B misses by $180M