WESCO (WCC) Q1 Earnings Miss Estimates, Sales Decline Y/Y

Zacks05-04

WESCO International WCC reported first-quarter 2023 adjusted earnings of $2.30 per share, down 38.7% year over year. Also, the bottom line lagged the Zacks Consensus Estimate by 6.5%.Net sales of $...

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Also, the bottom line lagged the Zacks Consensus Estimate by 6.5%.Net sales of $...</p>\n\n<a href=\"https://finance.yahoo.com/news/wesco-wcc-q1-earnings-miss-170400786.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>WESCO (WCC) Q1 Earnings Miss Estimates, Sales Decline Y/Y</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWESCO (WCC) Q1 Earnings Miss Estimates, Sales Decline Y/Y\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-04 01:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/wesco-wcc-q1-earnings-miss-170400786.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>WESCO International WCC reported first-quarter 2023 adjusted earnings of $2.30 per share, down 38.7% year over year. Also, the bottom line lagged the Zacks Consensus Estimate by 6.5%.Net sales of $...</p>\n\n<a href=\"https://finance.yahoo.com/news/wesco-wcc-q1-earnings-miss-170400786.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WCC","symbol_name":"西科国际","start_time":0,"source_url":"https://finance.yahoo.com/news/wesco-wcc-q1-earnings-miss-170400786.html","article_id":"2432180268","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/0GChFaiNDV.2l4kl5rTRAw--~B/aD00MTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/d71b764661c9d6253931a344682e3198"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2432180268","pubTimestamp":1714755840,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"WESCO International WCC reported first-quarter 2023 adjusted earnings of $2.30 per share, down 38.7% year over year. Also, the bottom line lagged the Zacks Consensus Estimate by 6.5%.Net sales of $5.35 billion fell 3.1% year over year. The figure beat the Zacks Consensus Estimate by 0.7%. Organic sales declined 3.2% year over year.WESCO International, Inc. Price, Consensus and EPS Surprise. WESCO International, Inc. price-consensus-eps-surprise-chart | WESCO International, Inc. Quote. The gross margin contracted 60 basis points  on a year-over-year basis to 21.3%.Selling, general and administrative expenses were $829.4 million, up 1.4% year over year. As a percentage of net sales, the figure expanded 70 bps year over year to 14.6%.The adjusted operating margin was 5.3%, which contracted 130 bps year over year.WESCO has a Zacks Rank #5  at present.Some better-ranked stocks in the broader technology sector are Arista Networks ANET, Applied Material AMAT and Dell Technologies DELL, each c","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"WCC":"西科国际","ANET":"Arista Networks, Inc.","DELL":"戴尔"},"translate_title":"WESCO(WCC)Q1盈利低于预期，销售额同比下降","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WCC":1,"ANET":0.9,"DELL":0.9},"content_text":"WESCO International WCC reported first-quarter 2023 adjusted earnings of $2.30 per share, down 38.7% year over year. Also, the bottom line lagged the Zacks Consensus Estimate by 6.5%.Net sales of $5.35 billion fell 3.1% year over year. The figure beat the Zacks Consensus Estimate by 0.7%. Organic sales declined 3.2% year over year.\nTop-Line Details\nEES (39.2% of Net Sales): Sales in the segment were $2.09 billion, down 1.7% year over year. Organic sales declined 1.8% due to sluggish solar sales. Weak momentum among original equipment manufacturers (“OEM”) was a negative.Nevertheless, the growing industrial business, owing to strength in automation, electrical equipment upgrades, and solid momentum in the oil and gas market, remained a plus.CSS (31.3% of Net Sales): Sales in the segment were $1.67 billion, down 3.6% year over year. Organic sales dipped 3.7% year over year. Softness in the service provider market, which led to a decline in Enterprise Network Infrastructure, was concerning. The weak adoption of security solutions remained another negative.Nevertheless, strong momentum in Wesco Data Center Solutions remained a plus.UBS (29.5% of Net Sales): Sales in the segment were $1.58 billion, down 4.5% year over year. Organic sales dipped 4.6% year over year. Declining utility and broadband sales were concerning.\n\nWESCO International, Inc. Price, Consensus and EPS Surprise\n  \nWESCO International, Inc. price-consensus-eps-surprise-chart | WESCO International, Inc. Quote\n\nOperating Details\nThe gross margin contracted 60 basis points (bps) on a year-over-year basis to 21.3%.Selling, general and administrative expenses were $829.4 million, up 1.4% year over year. As a percentage of net sales, the figure expanded 70 bps year over year to 14.6%.The adjusted operating margin was 5.3%, which contracted 130 bps year over year.\nBalance Sheet & Cash Flow\nAs of Mar 31, 2024, cash and cash equivalents were $984.1 million, up from $524.1 million as of Dec 31, 2023.The long-term debt was $5.18 billion at the first-quarter end compared with $5.31 billion in the prior quarter.The company generated $746.3 million in cash from operations compared with $69.3 million in the previous quarter.For the first quarter, WESCO reported a free cash flow of $731.4 million.\nGuidance\nFor 2024, the company revised guidance for sales growth downward from 1-4% to (2)-1%. Organic sales growth is expected to be flat to 3%. The Zacks Consensus Estimate for sales stands at $22.41 billion.The adjusted EBITDA margin is expected between 7.5% and 7.9%.The free cash flow is expected between $800 million and $1 billion.Adjusted earnings are anticipated between $13.75 and $15.75 per share. The Zacks Consensus Estimate for the same is pegged at $14.14.\nZacks Rank & Stocks to Consider\nWESCO has a Zacks Rank #5 (Strong Sell) at present.Some better-ranked stocks in the broader technology sector are Arista Networks ANET, Applied Material AMAT and Dell Technologies DELL, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank  (Strong Buy) stocks here.Arista Networks’ shares have gained 11.6% year to date. ANET is set to report its first-quarter 2024 results on May 7.Applied Material’s shares have gained 22.4% year to date. AMAT is set to report second-quarter fiscal 2024 results on May 16.Dell Technologies’ shares have surged 62.1% year to date. DELL is set to report its first-quarter fiscal 2025 results on May 30.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nDell Technologies Inc. (DELL) : Free Stock Analysis Report\nWESCO International, Inc. (WCC) : Free Stock Analysis Report\nApplied Materials, Inc. (AMAT) : Free Stock Analysis Report\nArista Networks, Inc. (ANET) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2432180268"}