The 2020 Mid-Year Economic Update_long

WESCO Sales Up Slightly in 1Q

Organic sales grew 1.6 percent in the quarter.

WESCO International, Inc. (NYSE: WCC), Pittsburgh, PA, reported sales for the first quarter of $1.8 billion, up 0.2 percent from the same period a year ago. Organic sales increased 1.6 percent, while acquisitions contributed 0.5 percentage points.

Sequentially, sales decreased 3.7 percent, and organic sales decreased 3.1 percent.

First-quarter profit fell 38 percent to $51.9 million.

"Our first quarter results reflect an improving U.S. economy largely offset by the impacts of severe winter weather conditions in both the U.S and Canada," CEO John Engel said.

U.S. sales increased 3 percent, with growth in all end markets except construction. The decline in construction sales was primarily due to weather-related project delays, Engel said.

Sales in Canada fell 4 percent organically compared to the same period a year ago.

"Our acquisition pipeline remains robust, and we see continuing opportunities to strengthen our electrical core while broadening our portfolio of products and services," Engel said.

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