The latest announcement is out from Wesco International ( (WCC) ).
Wesco International reported a 2.7% year-over-year drop in net sales for the third quarter of 2024, largely due to the sale of its Wesco Integrated Supply division. Despite this, the company saw a slight sequential increase in sales, mainly driven by its Communications and Security Solutions segment. Operating profit stood at $336 million, with a gross margin improvement to 22.1%. The company generated strong cash flow and reaffirmed its full-year outlook, highlighting growth opportunities in the data center space and strategic acquisitions.
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