WESCO International sales remain flat
WESCO International reported net sales were $2.0 billion for the first quarter of 2020, unchanged from 2019.
Organic sales declined by 1.7 percent as the number of workdays and acquisitions positively impacted net sales by 1.6 percent and 0.5 percent, respectively. Net sales growth through the first 10 weeks of the quarter were offset by declines during the last two weeks of March.
Net income of $34.4 million, or 82 cents per diluted share, compared to $42.4 million, or 93 cents, for the first quarter of 2019.
"In these challenging times, we are committed to super-serving our customers while ensuring the integrity of their supply chains. All of our branches remain operational and we have taken the necessary steps to ensure the health and safety of our employees through implementing increased safety, sanitizing and social distancing protocols," said John J. 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.
