Wesco International Inc. Files 10-Q for Period Ending March 31, 2024

AI Summary

WESCO INTERNATIONAL INC (WCC) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Wesco International Inc. filed its 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. Key financial data points and segment information are included in the report. The company's fiscal year ends on December 31st. The filing was made on May 2, 2024.

Why It Matters

For investors and stakeholders tracking WESCO INTERNATIONAL INC, this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial performance data for Wesco International Inc., enabling informed investment decisions. The detailed segment information and financial metrics allow for a deeper understanding of the company's business operations and revenue streams.

Risk Assessment

Risk Level: medium — WESCO INTERNATIONAL INC shows moderate risk based on this filing. The filing is a standard quarterly report, which typically contains routine financial information. However, the absence of specific financial performance figures in the provided text necessitates a medium risk assessment as a comprehensive analysis is not possible.

Analyst Insight

Review the full 10-Q filing to analyze specific financial metrics, revenue growth, and any disclosed risks or strategic initiatives.

Key Numbers

• 2024-03-31 — Period End Date (Conformed Period of Report)
• 2024-05-02 — Filing Date (Filed as of Date)
• 12/31 — Fiscal Year End (Fiscal Year End)
• 2024-01-01 — Quarter Start Date (Reporting period start date)
• 2024-03-31 — Quarter End Date (Reporting period end date)
• 2023-01-01 — Prior Year Quarter Start Date (Prior year reporting period start date)
• 2023-03-31 — Prior Year Quarter End Date (Prior year reporting period end date)

Key Players & Entities

• WESCO INTERNATIONAL INC (company) — Filer name
• 2024-05-02T00:00:00.000Z (date) — Filing date
• 2024-03-31 (date) — Period of report
• 2024-05-02 (date) — Date as of change
• 0000929008-24-000013 (filing_id) — Accession Number
• 5063 (industry_code) — Standard Industrial Classification
• 251723342 (tax_id) — IRS Number
• 4124542200 (phone) — Business Phone

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-02: Filing Date — Date the 10-Q report was officially filed with the SEC.

Key Financial Figures

• $0.01 — 024, 50,827,576 shares of common stock, $0.01 par value, of the registrant were outst

Filing Documents

• wcc-20240331.htm (10-Q) — 1227KB
• wcc-1q24exx101.htm (EX-10.1) — 62KB
• wcc-1q24exx102.htm (EX-10.2) — 1582KB
• wcc-1q24exx103.htm (EX-10.3) — 1187KB
• wcc-1q24exx104.htm (EX-10.4) — 1710KB
• wcc-1q24exx311.htm (EX-31.1) — 10KB
• wcc-1q24exx312.htm (EX-31.2) — 10KB
• wcc-1q24exx321.htm (EX-32.1) — 7KB
• wcc-1q24exx322.htm (EX-32.2) — 7KB
• image_0a.jpg (GRAPHIC) — 71KB
• 0000929008-24-000013.txt ( ) — 12741KB
• wcc-20240331.xsd (EX-101.SCH) — 38KB
• wcc-20240331_cal.xml (EX-101.CAL) — 72KB
• wcc-20240331_def.xml (EX-101.DEF) — 344KB
• wcc-20240331_lab.xml (EX-101.LAB) — 631KB
• wcc-20240331_pre.xml (EX-101.PRE) — 528KB
• wcc-20240331_htm.xml (XML) — 847KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 23

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk. 36

Controls and Procedures

Item 4. Controls and Procedures. 37

—OTHER INFORMATION

PART II—OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings. 38

Risk Factors

Item 1A. Risk Factors. 38

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 38

Other Information

Item 5. Other Information. 38

Exhibits

Item 6. Exhibits. 39

Signatures

Signatures 41 1 Table of Contents WESCO INTERNATIONAL, INC. AND SUBSIDIARIES

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. The interim financial information required by this item is set forth in the unaudited Condensed Consolidated Financial Statements and Notes thereto in this Quarterly Report on Form 10-Q, as follows: Page Condensed Consolidated Balance Sheets (unaudited) 3 Condensed Consolidated Statements of Income and Comprehensive Income (unaudited) 4 Condensed Consolidated Statements of Cash Flows (unaudited) 5 Condensed Consolidated Statements of Stockholders ' Equity (unaudited) 6 Notes to Condensed Consolidated Financial Statements (unaudited) 7 2 Table of Contents WESCO INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In millions, except shares) (unaudited) As of Assets March 31, 2024 December 31, 2023 Current assets: Cash and cash equivalents $ 984.1 $ 524.1 Trade accounts receivable, net of allowance for expected credit losses of $ 57.0 and $ 55.9 in 2024 and 2023, respectively 3,526.7 3,639.5 Other accounts receivable 346.2 430.5 Inventories 3,525.4 3,572.1 Prepaid expenses and other current assets 286.8 225.4 Current assets held for sale 243.6 — Total current assets 8,912.8 8,391.6 Property, buildings and equipment, net of accumulated depreciation of $ 505.8 and $ 502.5 in 2024 and 2023, respectively 428.1 423.6 Operating lease assets 768.3 761.2 Intangible assets, net 1,831.0 1,857.6 Goodwill 3,182.5 3,262.3 Deferred income taxes 39.5 42.3 Other assets 311.2 322.3 Noncurrent assets held for sale 65.6 — Total assets $ 15,539.0 $ 15,060.9 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 2,974.3 $ 2,431.5 Accrued payroll and benefit costs 147.9 191.7 Short-term debt and current portion of long-term debt 11.1 8.6 Other current liabilities 833.9 756.6 Current liabilities held for sale 68.7 — Total current liabilities 4,035.9 3,388.4 Long-term debt, net of debt discount and debt issuance costs of $ 65.5 and $ 43.0 in 2024 and 2023, respect

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