Despite Wesco’s Difficult First Quarter, We See Signs of Better Performance Ahead
Wesco had a tough first quarter, with organic sales declining 2% year over year to $1.77 billion, an already depressed operating margin contracting 10 further basis points to 3.8%, and EPS declining $0.01 to $0.76. Still, the analyst community had low expectations this quarter and the narrow-moat industrial distributor topped consensus sales and EPS estimates of $1.76 million and $0.73, respectively. Management maintained its full-year 2017 guidance of sales up 0% to 4%, operating margin of 4.4%...WESCO International is a distributor of products and provider of supply chain management and logistics services used primarily in industrial, construction, utility and commercial, institutional and government markets. The company is a provider of electrical, industrial, and communications maintenance, repair and operating and original equipment manufacturers products, construction materials, and supply chain management and logistics services. The company's primary product categories include general supplies, wire, cable and conduit, communications and security, electrical distribution and controls, lighting and sustainability, and automation, controls and motors.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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