WESCO International Q4 sales up 17.5 percent
WESCO International reported net sales of $4.9 billion for the fourth quarter of 2021 compared to $4.1 billion for the fourth quarter of 2020, an increase of 17.5 percent.
Net income of $153.1 million for the quarter, or $2.93 per diluted share, compared to $5.6 million, or 11 cents, for the fourth quarter of 2020.
For the full year, net sales were $18.2 billion for 2021 compared to $12.3 billion for 2020, an increase of 47.8 percent, primarily due to the merger with Anixter.
Net income of $408.0 million for 2021, or $7.84 per diluted share, compared to $70.4 million, or $1.51, for 2020.
“Since the closing of the Anixter acquisition, our team has executed a complex integration plan with speed, agility and excellence. Based on the strength of this execution, we are again increasing the cost and sales synergy targets for our three-year integration program. At the same time, we have designed and launched an important commitment to digitally transform our business to propel our growth for the next decade and beyond," said John Engel, chairman, president and CEO.
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.
