WESCO Reports ‘Record’ 3Q

WESCO International Inc. had 2021 third-quarter sales of $4.7 billion, a 14.2% increase over the same span a year ago.
WESCO 3Q 2021 Earnings Record

WESCO International Inc. (NYSE: WCC), Pittsburgh, Pennsylvania, had “record” 2021 third-quarter sales of $4.7 billion, a 14.2% increase over the same period last year.

The company also reported record operating profit of $229.5 million and record net income attributable to common stockholders of $105.2 million.

For the third quarter of 2021, WESCO had an adjusted net income attributable to common stockholders of $142.6 million.

“We had another exceptional quarter and again delivered outstanding results across the board. Early in the second year of our transformational combination of WESCO and Anixter, the substantial value creation of the new WESCO is building,” said John Engel, chairman, president and CEO of WESCO. “Our sales growth accelerated versus 2019 pre-pandemic levels, and our margin performance and backlog achieved new records for the company. We are outperforming the market across our three business units by utilizing our increased scale, expanded portfolio and industry-leading positions. And, we are continuing to de-lever our balance sheet at a rapid rate while investing in our digital transformation. The impressive progress we’re making in the integration is a direct result of the dedication, commitment and relentless execution of the entire WESCO team. I want to thank all our associates for their strong teamwork on our transformation, supplier engagement and customer focus in providing the products, services and resilient supply chain solutions our customers need.”

For the first nine months of 2021, WESCO’s net sales were $13.4 billion, a 63.1% increase over 2020, primarily due to its 2020 acquisition of Anixter International Inc.

WESCO ranks No. 1 on MDM’s Top Distributors list for electrical, data and security distributors with $11 billion in 2020 revenue.

 

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