Wesco (WCC) reduced full-year outlook and now expects organic sales between a decline of 1.5% and an increase of 0.5% from prior year and adjusted EBITDA margin of 7.0% to 7.3%.
John Engel, CEO, said: "We expect the mixed economic environment and customer purchasing delays in utility and broadband to continue through the second half of 2024. Quoting, bid activity levels, and our backlog remain healthy, supporting our view for sales growth in the second half against an easier year-over-year comparable, but at a more modest rate than our previous outlook."
Wesco said, with its record $500 million of free cash flow generation in the first half, the company is on track to deliver full year free cash flow outlook of $800 million to $1 billion and will continue to execute capital allocation strategies.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.