The 2020 Mid-Year Economic Update_long

Wesco Aircraft Holdings Sales Up 45% in 2Q

North American sales increased 27 percent year-over-year.

Aerospace distributor Wesco Aircraft Holdings, Inc.(NYSE: WAIR), Valencia, CA, reported sales for the second quarter of $327.4 million, up 45 percent from the same period a year ago. First-quarter profit fell 21 percent to $24.3 million.

North American sales for the quarter were up 27 percent year-over-year, with revenues in the rest of the world up 112 percent.

"Our first half results for new contract signings and revenue growth were strong relative to last year and were in line with our expectations. We continue to experience high levels of booking activity, scope additions to our existing contracts and contract signings with new customers." said Randy Snyder, president and CEO.

Sales for the first six months were $552.1 million, up 26 percent. Profit for the first six months was $48.7 million.

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