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Wesco International: Q1 Earnings Snapshot

PITTSBURGH (AP) _ Wesco International Inc. (WCC) on Thursday reported first-quarter net income of $59.2 million. On a per-share basis, the Pittsburgh-based company said it had net income of 87 cents...

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PITTSBURGH (AP) _ Wesco International Inc. (WCC) on Thursday reported first-quarter net income of $59.2 million.

On a per-share basis, the Pittsburgh-based company said it had net income of 87 cents. Earnings, adjusted for one-time gains and costs, came to $1.43 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.

The maker of electrical and industrial maintenance supplies and construction materials posted revenue of $4.04 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $4.03 billion.

Wesco International expects full-year earnings in the range of $6.80 to $7.30 per share.

Wesco International shares have climbed 20% since the beginning of the year. The stock has more than tripled in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WCC at https://www.zacks.com/ap/WCC

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