The stock value of electrical distribution and services firm WESCO International, Inc. (WCC) dropped over 19 percent on Tuesday morning when the company posted lower-than-expected fourth-quarter results.
The company's fourth-quarter profit slipped to $127.6 million or $2.45 per share, down from $204.6 million or $3.90 per share during the analogous period the previous year.
When excluding exceptional items, earnings stood at $2.65 per share. This falls short of the average prediction of $3.86 per share as projected by analysts surveyed by Thomson-Reuters.
For the fourth quarter, net sales amounted to $5.473 billion, a small decrease of 1.5% from the previous year's $5.559 billion. The consensus estimate projected a net sale of $5.59 billion.
At the moment, WCC shares are priced at $151.20, having fluctuated between $121.91 and $195.43 over the past year.
