Published on 14 Feb 2024 on Zacks via Yahoo Finance

WESCO (WCC) Q4 Earnings Lag Estimates, Revenues Dip Y/Y

WESCO International WCC reported fourth-quarter 2023 adjusted earnings of $2.65 per share, down 35.8% year over year. Also, the bottom line lagged the Zacks Consensus Estimate by 1.15%.Net sales of $5.47 billion fell 1.5% year over year. The figure missed the Zacks Consensus Estimate by 1.66%. Organic sales declined 2.6% year over year.

Top-Line Details

EES (38.1% of Net Sales): Sales in the segment were $2.08 billion, down 3.9% year over year. Organic sales declined 4.1% due to declines in construction and original equipment manufacturers (“OEM”), partially offset by the continued positive momentum in the industrial business, price inflation and the benefits of cross-selling.CSS (32.7% of Net Sales): Sales in the segment were $1.79 billion, up 1.6% year over year. Organic sales dipped 1.4% on a volume decline in security solutions.UBS (29.2% of Net Sales): Sales in the segment were $1.60 billion, down 1.8% year over year.