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PITTSBURGH , May 30, 2024 /PRNewswire/ -- The Board of Directors of Wesco International (NYSE: WCC) today declared a quarterly cash dividend on all of the issued and outstanding shares of common stock, in an amount equal to $0.4125 per share. The dividend is payable on June 28, 2024 to the holders of record of the common stock at the close of business on June 14, 2024.
PITTSBURGH , May 30, 2024 /PRNewswire/ -- Wesco International (NYSE: WCC), a leading provider of business-to-business distribution, logistics services and supply chain solutions, issued its annual sustainability report today. The report outlines Wesco's progress and key initiatives for advancing its environmental, social and governance (ESG) goals set in the 2021 report that include reducing greenhouse gas emissions by 30%, reducing landfill waste intensity by 15% across global locations, achieving a 15% reduction in total recordable incident rate (TRIR) and providing 425,000 hours of safety training and development to employees – all by 2030.
WESCO International's Q1 2024 sales declined due to volume declines across all segments, but the company's revenue growth outlook is positive. The company is poised to benefit from electrification, broadband expansion, infrastructure build, and data center demand in the medium to long term. The company's margins were adversely impacted in Q1 2024, but they are expected to sequentially improve in the coming quarters.
Wesco International is a B2B distribution company with operating segments in electrical and electronic solutions, communications and security solutions, and utility and broadband solutions. The company was transformed after a major acquisition of Anixter for $4.5 billion in 2020. The stock is currently a hold due to concerns about high debt levels and limited potential for earnings growth.
Explore how Wesco International's (WCC) revenue from international markets is changing and the resulting impact on Wall Street's predictions and the stock's prospects.
WESCO's (WCC) first-quarter results reflect weak momentum across all business units.
Although the revenue and EPS for Wesco International (WCC) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Wesco International (WCC) came out with quarterly earnings of $2.30 per share, missing the Zacks Consensus Estimate of $2.46 per share. This compares to earnings of $3.75 per share a year ago.
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Wesco International (WCC), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended March 2024.
Wesco International (WCC) reported earnings 30 days ago. What's next for the stock?