WESCO sales rise 14.2 percent
WESCO International reported record third-quarter sales of $4.7 billion compared to $4.1 billion for the third quarter of 2020, an increase of 14.2 percent.
Net income was $105.2 million for the quarter, or $2.02 per diluted share, compared to $66.2 million, or $1.31, for the third quarter of 2020.
“We had another exceptional quarter and again delivered outstanding results across the board. Early in the second year of our transformational combination of WESCO and Anixter, the substantial value creation of the new WESCO is building,” said John Engel, chairman, president and CEO. “Our sales growth accelerated versus 2019 pre-pandemic levels, and our margin performance and backlog achieved new records for the company. We are outperforming the market across our three business units by utilizing our increased scale, expanded portfolio and industry-leading positions."
Net sales were $13.4 billion for the first nine months of 2021 compared to $8.2 billion for the first nine months of 2020, an increase of 63.1 percent primarily due to the merger with Anixter.
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.
