The 10-second takeaway
For the quarter ended Dec. 31 (Q4), WESCO International beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and earnings per share increased significantly.
Gross margins increased, operating margins dropped, and net margins grew.
WESCO International tallied revenue of $1.59 billion. The 13 analysts polled by S&P Capital IQ anticipated revenue of $1.53 billion. Sales were 19% higher than the prior-year quarter's $1.33 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
EPS came in at $1.12. The 16 earnings estimates compiled by S&P Capital IQ anticipated $0.97 per share. GAAP EPS of $1.12 for Q4 were 57% higher than the prior-year quarter's $0.71 per share.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 20.6%, 30 basis points better than the prior-year quarter. Operating margin was 5.8%, 50 basis points worse than the prior-year quarter. Net margin was 3.4%, 80 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.52 billion. On the bottom line, the average EPS estimate is $0.90.
Next year's average estimate for revenue is $6.49 billion. The average EPS estimate is $4.40.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on WESCO International is buy, with an average price target of $57.25.
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