Posted January 30, 2020

WESCO International sales up 4.4 percent

WESCO International reported net sales of $2.1 billion for the fourth quarter of 2019, up 4.4 percent from $2.0 billion compared to the fourth quarter of 2018.

Organic sales for the fourth quarter of 2019 grew by 3.9 percent as foreign exchange rates negatively impacted net sales by 0.3 percent, and acquisitions positively impacted net sales by 0.8 percent.

Net income was $53.1 million for the quarter, or $1.26 per diluted share, compared to $58.1 million for the same period last year, or $1.26 per share. There were 42.2 million shares in the fourth quarter of 2019 compared to 46.2 million the previous year.

For the full year, net sales were $8.4 billion, compared to $8.2 billion for 2018, an increase of 2.2 percent.

Net income for the year was $223.4 million, or $5.14 per share, compared to $227.3 million, or $4.82, in 2018.

"We achieved record fourth quarter and full year sales results against end market conditions that were more challenging than expected. Notably, all of our end markets and geographies grew on a year-over-year basis for the third consecutive year," said John J. Engel, WESCO's chairman, president and CEO.