WESCO International sales up 7.6 percent
WESCO International reported net sales were $2.07 billion for the third quarter of 2014, compared to $1.93 billion for the third quarter of 2013, an increase of 7.6%.
Organic sales increased 6.7%, acquisitions positively impacted sales by 1.8%, and foreign exchange negatively impacted sales by 0.9%.
Net income of $80.8 million was up 16.9% from $69.2 million in the prior year quarter.
"Sales were up in all four of our end markets for the second consecutive quarter. Organically, U.S. sales grew 8% while Canada sales grew 5%," said John J. Engel, WESCO's chairman and CEO. "We continue to see favorable momentum in our customer base, including strengthening in non-residential construction, which we expect will result in ongoing growth in our key markets."
Based upon third quarter results, the company is narrowing its full year outlook to approximately 5% sales growth.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
