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Iillustration 19276996 / Dirk Erck / Dreamstime
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WESCO records solid sales boost in 2Q 2012

July 19, 2012
WESCO International Inc., Pittsburgh, had a good first half in 2012, according to its most recent financial data. Consolidated net sales were $3,278.7 million for the first six months of 2012, compared to $2,955.8 million for the first six months of ...

WESCO International Inc., Pittsburgh, had a good first half in 2012, according to its most recent financial data. Consolidated net sales were $3,278.7 million for the first six months of 2012, compared to $2,955.8 million for the first six months of 2011, an increase of 10.9%. Acquisitions positively impacted consolidated sales by 2.4%, while one additional workday positively impacted sales by 0.8% and foreign exchange provided a 0.5% negative impact resulting in a normalized organic growth rate of approximately 8.2%.

The company's operating profit was $179.6 million for the first six months of 2012, up 19.9% from $149.7 million for the comparable 2011 period. Operating profit as a percentage of sales was 5.5% in 2012, up 40 basis points from 5.1% in 2011.

John Engel, WESCO's chairman and CEO, said, "Our second-quarter results reflect the continued execution of our growth strategy and our ability to deliver solid sales and earnings growth in a challenging economic environment. We generated positive momentum and increased sales to customers in each of our Industrial, Construction, Utility and CIG end markets resulting in overall sales growth of 9.7%.

"Our long term outlook remains unchanged as we expect the economy to continue to recover slowly over the next several years. We are continuing to invest in our eight growth engines and our six operational excellence initiatives, and we remain focused on executing our One WESCO strategy of providing customers with the leading products, services and supply chain solutions they need to meet their MRO, OEM, and Capital Project requirements around the world."

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