Wesco International Inc (WCC) has reported a decline in its third-quarter profits compared to the same timeframe last year, although results exceeded analysts' expectations.
In the recent quarter, Wesco posted a net profit of $189.9 million or $3.81 per share, down from $219.0 million or $4.20 per share in the corresponding quarter of the previous year.
When excluding certain items, the company reported adjusted earnings of $178.1 million or $3.58 per share for the quarter.
Analysts, as surveyed by Thomson Reuters, had on average anticipated earnings of $3.20 per share, excluding special items.
The company's revenue decreased by 2.7%, falling to $5.489 billion from $5.644 billion in the previous year's third quarter.
Summary of Wesco International Inc's GAAP Earnings for Q3:
- Net earnings: $189.9 million, compared to $219.0 million last year.
- Earnings per share: $3.81, down from $4.20 last year.
- Revenue: $5.489 billion, compared to $5.644 billion in the previous year.
