Wesco backs FY24 adjusted EPS view $12.00-$13.00, consensus $12.12

Backs FY24 revenue view $21.6B-$22B, consensus $22.23B. Backs FY24 free cash flow view $800M-$1B. Engel concluded, “Quoting, bid activity levels, and backlog remain healthy across our Wesco (WCC) enterprise. We are reaffirming our 2024 full-year outlook for sales, profitability and free cash flow. While end markets remain mixed, in the fourth quarter we expect to continue to benefit from double-digit growth in the data center space as well as some large projects in our electrical and industrial end markets. As we look ahead, I like Wesco’s leadership position and exposure to the long-term trends we have consistently described in detail. While the macro-economic environment will inevitably present challenges, I believe Wesco will continue to outperform our competitors under all market conditions. Our commitment to value creation from operational improvements, digital transformation and our capital allocation strategy, including focused M&A, is clear and resolute as outlined during our recent Investor Day. The Wesco team will continue to strive to execute on those plans to deliver outsized returns for our shareholders.”