WESCO Int'l (WCC) to Announce Strategic Vision and Financial Goals

Wesco International (NYSE: WCC), will provide an update regarding its long-term growth strategy at its Investor Day meeting taking place in-person at its innovation center in Glenview, Ill. and online today at 9 a.m. Central Time.

Wesco will share an update on its digitally enabled business transformation and expansive capabilities to support long-term growth and margin expansion. Consistent with prior expectations, over the long term it expects to achieve mid-single-digit organic growth, driven by a strategic shift into higher growth and higher margin end markets along with continued share gains. The company has a long-term track record of increasing returns to shareholders through acquisitions which are additive to the topline growth rate and margin expansion. Over the same cycle, the company expects to grow EBITDA at twice the rate of sales, expand return on net assets, and target free cash flow of 100% of adjusted net income.

Wesco's 2024 full-year expectations remain consistent with the outlook described in the company's second quarter earnings report. Wesco expects reported sales of (3.5)% to (1.5)% and organic sales growth of (1.5)% to 0.5% versus the prior year. The company continues to expect to deliver adjusted EBITDA of 7.0% to 7.3%, and adjusted EPS of $12 to $13.

"Our investment thesis is built on our market leadership, future cash generation, and strong progress on our business transformation. We have multiple drivers of our future sustained outperformance and are well-positioned to deliver outsized growth due to secular trends in AI-driven data centers, increased power generation, electrification, IoT and automation, and re-shoring of global supply chains. We're more than halfway complete on our technology and capabilities build. We have introduced generative AI analytics, automated multiple order and fulfillment processes, and developed new digital tools to improve working capital efficiency. These advancements are expected to accelerate growth, expand margins, and enhance the integration of future acquisitions. Our experienced management team, comprised of industry veterans with deep domain knowledge and new talent additions, is focused on driving our strategic priorities and achieving our financial goals," said Chairman, President and CEO John Engel.

"As we stand here today, we have built a new Wesco. Since our last investor meeting two years ago, we have completed our integrations of Anixter and Rahi Systems while making substantial progress on our business transformation. We are laser-focused on the four critical components of our long-term value creation: capturing the benefits of our digital transformation; progressing toward our 10%+ EBITDA margin goal; generating strong and consistent cash flow; and investing in services and acquisitions while supporting a consistent return of capital to our shareholders over time. We are committed to achieving our vision of becoming the best tech-enabled supply chain solutions company in the world and creating value for all stakeholders," he said.

Webcast and Teleconference Access

Wesco will conduct a webcast and in-person meeting on Thursday, September 26, 2024, at 9:00 a.m. C.T. The event will be broadcast live over the internet and can be accessed from the Investor Relations page of the Company's website at https://investors.wesco.com. The call will be archived on this internet site for seven days.

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