WESCO Shares Up 12% Since Q4 Beat Announcement

WESCO Int'l (NYSE:WCC) shares rose more than 12% since the company’s reported Q4 results on Tuesday, with EPS of $4.13, coming in better than the Street estimate of $3.79. Revenue was $5.6 billion, beating the Street estimate of $5.37 billion.

Backlog remains strong, up 44% year-over-year, with real Q4 revenue upside, including supply chain easing and incremental backlog execution (notably at CSS).

The company expects 2023 EPS in the range of $16.80–18.30 (vs. Street’s $16.94 estimate) on sales growth of 6–9%. The company remains committed to a $1 billion share repurchase through 2026, with activity picking up in the second half of 2023.