WESCO Int'l (WCC) Tops Q1 EPS by 19c; reaffirms guidance

WESCO Int'l (NYSE: WCC) reported Q1 EPS of $3.75, $0.19 better than the analyst estimate of $3.56. Revenue for the quarter came in at $5.5 billion versus the consensus estimate of $5.44 billion.

"We are reaffirming our 2023 outlook and remain confident in our ability to drive mid- to high-single digit sales growth this year, along with continued EBITDA margin expansion. We are also reaffirming that we expect to generate approximately $600 to $800 million in free cash flow in support of our growth initiatives and capital allocation priorities. In the near-term, we are focusing our cash generation on debt reduction and expect to reduce our leverage below the midpoint of our target range of 2.0 to 3.5x by year-end. We look forward with greater confidence than ever to a future of market outperformance and value creation."

For earnings history and earnings-related data on WESCO Int'l (WCC) click here.

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