Posted August 1, 2019

WESCO sales grow by 2.2 percent

WESCO International reported net sales were $2.2 billion for the second quarter of 2019, compared to $2.1 billion for the second quarter of 2018, an increase of 2.2 percent.

Organic sales grew by 1.9 percent as foreign exchange rates negatively impacted net sales by 1.0 percent, while acquisitions positively impacted net sales by 1.3 percent. Sequentially, net sales increased 9.6 percent and organic sales increased 7.2 percent.

Net income of $63.5 million, or $1.45 per diluted share, compared to $58.0 million for the second quarter of 2018, or $1.22 per share.

"As expected, all of our end markets grew on both a year-over-year and sequential basis. We achieved record sales in the second quarter due to the continued strength in Canada, Utility and Datacom offset by slower growth than anticipated in the U.S. After a slow start in April and May in the U.S., our sales growth strengthened in June but was impacted by increasing headwinds in the economy and in our end markets," said John J. Engel, WESCO's chairman, president and CEO.