WCC - Why Wesco International Stock Is Falling Today
2023-08-03 11:07:29 ET
Wesco International (NYSE: WCC) quarterly earnings fell short of expectations, and the company lowered its full-year revenue expectations. Investors were caught off guard, sending shares of the industry parts distributor down nearly 20%.
Wesco is a distribution and supply chain management specialist with a catalog of electrical, security, communications, and broadband products available through a network of 800 offices in more than 50 countries.
The company saw strong demand in the most recent quarter, but it didn't quite translate into the level of profits that analysts had hoped for. Wesco earned $3.71 per share on revenue of $5.75 billion, a split result relative to the consensus estimate of $4.05 per share on sales of $5.4 billion.
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Why Wesco International Stock Is Falling Today