Wesco International (NYSE: WCC) announced sales grew 22% in the first quarter of 2022. Sales were $4.9 billion, up from $4 billion in the same period of 2021. In addition, organic sales grew by 21%. Net income was $181 million, up from $59 million the previous year.
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“Our first-quarter results speak volumes about the new Wesco’s foundation for accelerating growth and profitability. After delivering an exceptional performance in fiscal 2021, we’re off to an even more impressive start in 2022. Once again, we achieved new company records for sales, backlog and profitability while continuing our rapid deleveraging, which now stands at 3.6x adjusted EBITDA, compared to 5.7x when we closed the Anixter merger,” Wesco President and CEO John Engel said.
