WESCO INTERNATIONAL Reports 4.8% Increase in Q2 FY2023 Revenue of USD 5745.5 Million
August 21, 2023
☀️Earnings Overview
On June 30 2023, WESCO INTERNATIONAL ($NYSE:WCC) reported second quarter earnings for FY2023 with total revenue of USD 5745.5 million, a 4.8% increase from the same quarter in FY2022. Unfortunately, net income declined by 12.5% to USD 193.1 million.
Analysis
GoodWhale has conducted an analysis of WESCO INTERNATIONAL‘s financials and provides a risk rating for the company. According to the rating, WESCO INTERNATIONAL is categorised as a medium risk investment, with financial and business aspects taken into account. GoodWhale has also identified two potential risk warnings present in WESCO INTERNATIONAL’s balance sheet and cashflow statement. Those interested in further examining the company’s financial data can register on GoodWhale’s website to take a closer look. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Wesco International. More…
| Total Revenues | Net Income | Net Margin |
| 22.27k | 791.32 | 3.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Wesco International. More…
| Operations | Investing | Financing |
| 377.77 | -296.31 | 223.14 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Wesco International. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 15.16k | 10.36k | 93.62 |
Key Ratios Snapshot
Some of the financial key ratios for Wesco International are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 38.9% | 80.6% | 6.7% |
| FCF Margin | ROE | ROA |
| 1.2% | 19.8% | 6.1% |
Peers
The Company’s primary competitors are Fastenal Co, MSC Industrial Direct Co Inc, and Addtech AB.
– Fastenal Co ($NASDAQ:FAST)
The company’s market cap is $27.97B as of 2022 and its ROE is 28.04%. The company is engaged in the distribution of industrial and construction supplies.
– MSC Industrial Direct Co Inc ($NYSE:MSM)
MSC Industrial Direct Co, Inc. engages in the distribution of metalworking and maintenance, repair, and operations (MRO) products and services. It operates through the following segments: Metalworking Solutions Group, MRO Solutions Group, and Fluid Power & Automation Solutions Group. The Metalworking Solutions Group segment offers cutting tools, measuring instruments, tooling components, abrasives, and machine tools. The MRO Solutions Group segment comprises of products used to maintain, repair, and operate facilities and equipment. The Fluid Power & Automation Solutions Group segment provides fluid power components and systems, and automation and control products. The company was founded by Martin Schwartz in 1941 and is headquartered in Melville, NY.
MSC Industrial Direct Co Inc has a market cap of 4.71B as of 2022 and a Return on Equity of 22.14%. The company engages in the distribution of metalworking and maintenance, repair, and operations (MRO) products and services. It operates through the following segments: Metalworking Solutions Group, MRO Solutions Group, and Fluid Power & Automation Solutions Group. The Metalworking Solutions Group segment offers cutting tools, measuring instruments, tooling components, abrasives, and machine tools. The MRO Solutions Group segment comprises of products used to maintain, repair, and operate facilities and equipment. The Fluid Power & Automation Solutions Group segment provides fluid power components and systems, and automation and control products.
– Addtech AB ($LTS:0QI7)
Addtech AB is a Swedish company that provides technology solutions for industrial customers. The company has a market cap of 36 billion as of 2022 and a return on equity of 28.17%. Addtech’s solutions include products and services for automation, motion control, and fluid power. The company operates in four segments: Automation, Motion, Fluid Power, and Industrial Supplies. Addtech employs approximately 3,700 people and has sales offices in Europe, North America, and Asia.
Summary
WESCO International reported its second quarter earnings results for FY2023 with total revenue of USD 5745.5 million, a 4.8% year-over-year increase. Despite the increased revenue, net income decreased by 12.5% to USD 193.1 million. On the same day, WESCO International’s stock price dropped in response to the news.
This decrease in profits is concerning to investors, as it could potentially signal future financial difficulty for the company. Investors should closely monitor WESCO International’s future performance and consider the impact of this weak quarter on their investment decisions.
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