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April 24, 2014
06:13 EDTWCCWESCO reports Q1 EPS 97c, consensus $1.07
Reports Q1 revenue $1.81B, consensus $1.83B. John J. Engel, WESCO's chairman and CEO, stated, "Our Q1 results reflect an improving U.S. economy largely offset by the impacts of severe winter weather conditions in both the U.S and Canada. Sales in the U.S. were up approximately 3% with mid-single digit organic sales growth in all of our end markets, except construction, where sales declined primarily due to weather related project delays. Sales in Canada declined approximately 4% organically versus last year. While we face near-term foreign exchange headwinds in Canada, we continue to view that market favorably. After a slow start in January, sales momentum improved through the quarter and has further accelerated in April."
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