Wesco today filed a Form 8-K with the SEC for a new investor presentation with a third quarter update and details behind their growth from Pre-Merger at $8.4B Sales to its new higher growth company as Wesco+Anixter with sales in 2022 of $21.4B.
Wesco’s Q3 Update today:
- QTD Sales per workday tracking to expectations, up ~4% YoY
- Book-to-bill at end of Aug 2023 > 1.0
- Outlook unchanged; Q3 sales expected to be down sequentially over Q2
- Share buyback: repurchased ~$50M of common stock in Aug
- Debt paydown: expect to be around mid-point of leverage target range at end of Q3