Wesco Crushes Q2 Estimates, Raises FY Outlook; Stock Surges 11%
WCC sits 75% above its 52-week low of $197.955.
Summary
Wesco delivered a massive Q2 beat: adjusted EPS of $4.57 trounced the $3.98 consensus, and revenue of $6.67B sailed past the $6.44B estimate. The 13% sales growth was broad-based, with backlog soaring 60% year-over-year, signaling sustained demand. Management raised its full-year outlook, now projecting sales of $25.9B-$26.3B and adjusted EPS of $16.00-$17.00, both above prior guidance and Street expectations. This follows the record Q2 results disclosed in this morning's 8-K, but the article adds the crucial market reaction—shares up 11%—and the magnitude of the beat versus consensus. The data-center-driven growth story remains intact, with CEO Engel citing four straight quarters of double-digit sales gains. The raised guidance and backlog surge suggest the momentum has legs.
At the time of this announcement, WCC was trading at $345.75 on NYSE in the Trade & Services sector, with a market capitalization of approximately $16.8B. The 52-week trading range was $197.96 to $377.90. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.