The 2020 Mid-Year Economic Update_long

WESCO Sales Drop 31.5% in 3Q

MRO, construction materials distributor forecasting a slow recovery for 2010.
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WESCO International, Inc. (NYSE: WCC), Pittsburgh, PA, a distributor of electrical MRO products, construction materials, and advanced integrated supply procurement outsourcing services, reported third quarter sales were $1.15 billion, down 31.5% from the prior year. Profit decreased 47.3% to $33.6 million.

For the first nine months, sales were $3.49 billion, down 25.4% from the first nine months of 2008. Profit declined 49.3% to $83.3 million.

“Our current outlook is for the overall economy to recover slowly, but with continued contraction in the non-residential construction market in 2010,” CEO John J. Engel said. “These challenging economic times are providing an excellent opportunity to strengthen and extend our market leadership positions through building on and expanding our supplier relationships, product offerings and service capabilities.”

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