Electrical supply company WESCO (NYSE: WCC) will be reporting earnings this Thursday morning. Here’s what to expect.
WESCO met analysts’ revenue expectations last quarter, reporting revenues of $6.07 billion, up 10.3% year on year. It was a softer quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EPS estimates.
Is WESCO a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting WESCO’s revenue to grow 9.8% year on year, improving from its flat revenue in the same quarter last year.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing in majority upward revisions over the last 30 days. WESCO rarely misses Wall Street’s revenue estimates.
Looking at WESCO’s peers in the industrial distributors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Fastenal delivered year-on-year revenue growth of 12.4%, meeting analysts’ expectations, and MSC Industrial reported revenues up 2.9%, falling short of estimates by 1.6%. Fastenal traded down 9.3% following the results while MSC Industrial was also down 2.1%.
Read our full analysis of Fastenal’s results here and MSC Industrial’s results here.
There has been positive sentiment among investors in the industrial distributors segment, with share prices up 14.1% on average over the last month. WESCO is up 19.2% during the same time and is heading into earnings with an average analyst price target of $317.09 (compared to the current share price of $306.41).
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