Wesco Raises Full-Year Guidance After Delivering Excellent 3Q Growth; Increased FVE to $74
What a difference a year makes for Wesco International. Before last quarter, the narrow-moat industrial distributor had posted eight consecutive quarters of shrinking year-over-year sales growth. That trend changed last quarter when Wesco posted 1% organic growth. Although we were expecting the company to again deliver organic growth during the third quarter, we weren’t expecting it to increase its top line by a whopping 9%, which is the highest growth rate Wesco has achieved in over five years....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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