The 2020 Mid-Year Economic Update_long

WESCO Sales Down 7.4% in 3Q

Profit decreased 21.4 percent year-over-year.

WESCO International Inc. (NYSE: WCC), Pittsburgh, PA, reported sales for the third quarter of $1.9 million, down 7.4 percent compared to the same period the previous year. Profit decreased 21.4 percent to $63.5 million.

Organic sales decreased 5.3 percent, acquisitions positively impacted sales by 2 percent, and foreign exchange rates negatively impacted sales by 4.1 percent.

For the first nine months, WESCO reported sales of $5.7 billion, down percent from the same period a year ago. Profit declined 19.5 percent to $162.3 million.

"We expect reduced demand in commodity-driven end markets and foreign exchange headwinds to continue into 2016," CEO John Engel said. "The completion of cost reduction actions initiated in the second quarter are improving our second half profitability. We are continuing to simplify and streamline the business in the fourth quarter by reducing management structure and expect these changes to further improve our operational effectiveness while reducing costs in 2016."

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.