WESCO posts 19.3 percent sales gain
Net sales of $5.5 billion for WESCO International in the second quarter of 2022 compared to $4.6 billion for the second quarter of 2021, an increase of 19.3 percent.
The increase reflected pricing, strong demand, secular growth trends, and expanded product and service offerings.
Net income was $206.4 million for the second quarter of 2022, or $3.95 per diluted share, compared to $104.8 million, or $2.02, for the second quarter of 2021.
“Strong demand in our end markets continues to underpin the accelerating performance of each of our strategic business units," said John Engel, chairman, president and CEO. "Each strategic business unit again delivered double-digit sales and profit growth in the quarter driven by the ongoing success of our enterprise-wide cross selling and margin improvement programs. Our increased profitability continues to fuel our investment in advanced digital capabilities creating a virtuous cycle which is expected to result in an even higher level of performance, operating efficiency and customer loyalty.”
INDUSTRIAL SUPPLY MAGAZINE
The July/August issue of Industrial Supply magazine features an in-depth cover story about Singer Industrial. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Rachael Radford, as well as interviews with numerous product and distribution industry experts.
