WESCO International, Inc. Reports First Quarter 2019 Results
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WESCO Int'l (WCC) Misses Q1 EPS by 2c, Revenues Miss; Affirms FY19 EPS Mid-Point Guidance Above Consensus
May 2, 2019 6:02 AM EDTWESCO Int'l (NYSE: WCC) reported Q1 EPS of $0.93, $0.02 worse than the analyst estimate of $0.95. Revenue for the quarter came in at $1.96 billion versus the consensus estimate of $2 billion.
Mr. John J. Engel, WESCO's Chairman, President and CEO, commented, "We started out 2019 with sales and margin within our outlook range for the first quarter. Gross margin, which expanded both sequentially and year-over-year, reached its highest level since early 2017. Our sales growth rebounded nicely in March and has continued into April after a slow start in January and February. Backlog grew sequentially in the quarter,... More
