WESCO International Inc. (WCC) Thursday reported higher profit for the first quarter, favorably impacted by acquisitions. Adjusted earnings per share, however, fell below analyst expectations.
For the period, the firm posted net income of $84.1 million or $1.60 per share, up from $52.9 million or $1.03 per share reported a year earlier.
Excluding the favorable impact of non-recurring items, the company reported earnings per share of $1.12 for the quarter. Nineteen analysts, on average, polled by Thomson Reuters estimated earnings per share of $1.15 for the quarter. Analysts estimates typically exclude one-time items.
Revenue for the three months was $1.808 billion, up from $1.606 billion posted a year earlier. The firm said acquisitions positively impacted sales by 16 percent, while organic sales declined 3.4 percent. Analysts were looking for slightly higher sales of $1.83 billion.
For comments and feedback: editorial@rttnews.com