The 2020 Mid-Year Economic Update_long

WESCO Sales Up 5.9% in 2Q

Year-to-date sales up 3.1 percent year-over-year.

WESCO International Inc. (NYSE: WCC), Pittsburgh, PA, reported sales for the second quarter of $2 billion, up 5.9 percent year-over-year. Organic sales increased 6 percent, while acquisitions contributed 1.6 percentage points, partially offset by a 1.7 percent negative foreign exchange impact. Profit increased 5.5 percent to $68.9 million.

"Our second quarter results reflect strong sales execution, along with improvement in our end markets and seasonal recovery from the severe winter weather conditions experienced earlier this year," CEO John Engel said. "We continue to see favorable indicators with our customers, including further strengthening in non-residential construction, which we expect will result in ongoing growth in our key markets."

U.S. sales increased 5 percent, Canada sales were up 7 percent and sales for the rest of the world were up 13 percent.

Year-to-date sales were $3.8 billion, up 3.1 percent over the prior-year period, with organic sales up 3.9 percent. Profit decreased 19.2 percent to $120.7 million.

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