Wesco International (NYSE: WCC), Pittsburgh, Penn., a provider of B2B distribution, logistics services and supply chain solutions, reported sales for its fiscal 2023 first quarter were $5.5 billion, up 12% from the prior-year period.
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Net income was $197.2 million, up 8.6% from the prior-year period.
Wesco reported sales for its segments:
- Electrical & Electronic Solutions: $2.14 billion, up 2.2%
- Communications & Security Solutions: $1.73 billion, up 20.8% (organic increase of 13.3%)
- Utility & Broadband Solutions: $1.65 billion, up 17.5%
“After delivering an exceptional performance in 2022, we’re off to a strong start this year and once again set new first-quarter company records for sales, backlog, margin and profitability,” said John Engel, president and CEO. “The power of our increased scale, industry-leading positions and expanded portfolio of products, services and solutions is clearly evident in our continued strong performance.”