WESCO Intl Q1 2024 Adj EPS $2.30 Misses $2.65 Estimate, Sales $5.350B Beat $5.297B Estimate
Portfolio Pulse from Benzinga Newsdesk
WESCO Intl (NYSE:WCC) reported Q1 2024 earnings of $2.30 per share, missing the consensus estimate of $2.65 by 13.21%. However, their quarterly sales of $5.350 billion exceeded the estimate of $5.297 billion by 1.00%, despite being a 3.11% decrease from the previous year's same period.
May 02, 2024 | 10:03 am
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NEUTRAL IMPACT
WESCO Intl reported lower-than-expected Q1 2024 earnings per share but exceeded sales estimates, with a slight year-over-year sales decrease.
The miss in earnings per share (EPS) could negatively impact investor sentiment towards WCC in the short term, suggesting potential downward pressure on the stock price. However, the beat on sales estimates and the fact that sales are still robust despite a slight year-over-year decrease could counterbalance the negative impact of the EPS miss. Therefore, the overall short-term impact on WCC's stock price is assessed as neutral, considering both the negative and positive aspects of the earnings report.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100