Wesco reports Q2 adjusted EPS $3.21, consensus $3.60

Reports Q2 revenue $5.48B, consensus $5.56B. Backlog at the end of the second quarter declined by 10%. “Our second quarter results were somewhat below our expectations for a low single-digit decline in reported sales against a continued mixed and multi-speed economic environment. Results improved as we moved through the quarter with a return to organic sales growth in June along with sequential margin expansion. We continued to benefit from the increase in AI-driven data center growth with sales in our Wesco Data Center Solutions business up double-digits. This was more than offset by a significant slowdown in purchases by our utility customers. While we remain confident in the long-term growth of our Utility and Broadband Solutions business, the customer destocking and delay of capital projects clearly impacted our results in the quarter,” said John Engel, chairman, president and CEO.