Posted April 26, 2018

WESCO International posts strong first quarter

WESCO International reported net sales of $2.0 billion for the first quarter of 2018, compared to $1.8 billion for the first quarter of 2017, an increase of 12.5 percent.

Organic sales for the first quarter of 2018 grew by 10.9 percent and foreign exchange rates positively impacted net sales by 1.6 percent.

Net income was $44.4 million, or 93 cents per share, compared to $37.7 million, or 76 cents, for the first quarter of 2018 and 2017.

"We are seeing continued positive and broad-based momentum in our business. Sales grew 11 percent organically, our highest growth rate in seven years, with all end markets and geographies contributing. Sales growth was consistently strong throughout the quarter and backlog expanded to another all-time record level," said John J. Engel, WESCO's chairman, president and CEO.