WESCO International Files Q3 2024 10-Q

TL;DR

WESCO's Q3 10-Q is in, showing their latest financials. Check it out.

AI Summary

WESCO International Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial figures and business segments are presented, reflecting the company's ongoing activities in the wholesale electrical apparatus and equipment sector.

Why It Matters

This filing provides investors and analysts with a detailed look at WESCO's financial health and operational performance during the third quarter, influencing investment decisions.

Risk Assessment

Risk Level: medium — As a public company filing a quarterly report, there are inherent risks associated with financial performance, market conditions, and regulatory compliance.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-10-31 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
• 1231 — Fiscal Year End (The end date of WESCO's annual fiscal year.)

Key Players & Entities

• WESCO INTERNATIONAL INC (company) — Filer
• 20240930 (date) — Period of Report
• 20241031 (date) — Filing Date
• Pittsburgh, PA (location) — Business Address

FAQ

Key Financial Figures

• $0.01 — 024, 49,001,657 shares of common stock, $0.01 par value, of the registrant were outst

Filing Documents

• wcc-20240930.htm (10-Q) — 1699KB
• wcc-3q24exx311.htm (EX-31.1) — 10KB
• wcc-3q24exx312.htm (EX-31.2) — 10KB
• wcc-3q24exx321.htm (EX-32.1) — 7KB
• wcc-3q24exx322.htm (EX-32.2) — 7KB
• 0000929008-24-000029.txt ( ) — 8108KB
• wcc-20240930.xsd (EX-101.SCH) — 33KB
• wcc-20240930_cal.xml (EX-101.CAL) — 57KB
• wcc-20240930_def.xml (EX-101.DEF) — 336KB
• wcc-20240930_lab.xml (EX-101.LAB) — 509KB
• wcc-20240930_pre.xml (EX-101.PRE) — 453KB
• wcc-20240930_htm.xml (XML) — 1174KB

—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. 25

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk. 45

Controls and Procedures

Item 4. Controls and Procedures. 45

—OTHER INFORMATION

PART II—OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings. 46

Risk Factors

Item 1A. Risk Factors. 46

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 46

Exhibits

Item 6. Exhibits. 47

Signatures

Signatures 48 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) 8 2 Table of Contents WESCO INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In millions, except shares) (unaudited) As of Assets September 30, 2024 December 31, 2023 Current assets: Cash and cash equivalents $ 706.8 $ 524.1 Trade accounts receivable, net of allowance for expected credit losses of $ 61.0 and $ 55.9 in 2024 and 2023, respectively 3,629.1 3,639.5 Other accounts receivable 398.8 430.5 Inventories 3,630.1 3,572.1 Prepaid expenses and other current assets 318.7 225.4 Total current assets 8,683.5 8,391.6 Property, buildings and equipment, net of accumulated depreciation of $ 532.8 and $ 502.5 in 2024 and 2023, respectively 441.7 423.6 Operating lease assets 747.6 761.2 Intangible assets, net 1,811.2 1,857.6 Goodwill 3,217.7 3,262.3 Deferred income taxes 38.1 42.3 Other assets 335.2 322.3 Total assets $ 15,275.0 $ 15,060.9 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 2,839.1 $ 2,431.5 Accrued payroll and benefit costs 219.9 191.7 Short-term debt and current portion of long-term debt 14.9 8.6 Other current liabilities 854.6 756.6 Total current liabilities 3,928.5 3,388.4 Long-term debt, net of debt discount and debt issuance costs of $ 50.6 and $ 43.0 in 2024 and 2023, respectively 5,007.8 5,313.1 Operating lease liabilities 624.6 641.7 Deferred income taxes 440.4 451.9 Other noncurrent

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