Posted August 2, 2018

WESCO sales up 10.2 percent

WESCO International said its second-quarter net sales were $2.1 billion, an increase of 10.2 percent compared to $1.9 billion for the second quarter of 2017.

Organic sales grew by 9.0 percent as foreign exchange rates impacted net sales by 1.2 percent.

Net income was $58.0 million, or $1.22 per share, compared to $49.5 million, or $1.02 in the same period last year.

"Our broad-based return to growth, which began in mid-2017, continued in the second quarter. Organic sales grew 9 percent, with all end markets and geographies contributing to growth for the fourth consecutive quarter," said John J. Engel, chairman, president and CEO. "Sales growth was consistently strong throughout the quarter and our backlog expanded to a record high level. Gross margin was sequentially stable, and we delivered double digit growth in operating profit and EPS for the second quarter in a row."