WESCO International hits record high after Q4 results beat

WESCO International

14/02/2023 17:10

** Power distribution co WESCO International Inc's shares
 WCC.N  climb 7.6% to $164.8% to hit record-high levels
    ** Co reports Q4 adj. earnings of $4.13/shr vs analysts'
estimates of $3.79/shr, as per Refinitiv data
    ** "Strong seasonal fourth-quarter growth was driven by
secular demand trends, continued share gains and the start of
supply chain pressures easing" - CEO John Engel
    ** Co also reports quarterly rev. of $5.6 bln, beating
analysts estimates of $5.37 bln
    ** WCC beats EPS estimates for eight consistent quarters,
and revenue estimates for seven out of eight
    ** Shares of WCC gained 31.6% YTD compared to a 4.8% decline
in 2022
 (Reporting by Shristi Achar A in Bengaluru)
 ((Shristi.AcharA@thomsonreuters.com;))