Wesco Says 2024 Expectations Remain Consistent With Outlook Described In Q2 Earnings Report; Continues To Expect To Adjusted EPS Of $12 To $13, Est $12.18
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Wesco maintains its 2024 outlook consistent with its Q2 earnings report, expecting adjusted EPS of $12 to $13. The company anticipates mid-single-digit organic growth, with EBITDA growth at twice the rate of sales, and aims for free cash flow equal to adjusted net income. Wesco projects reported sales decline of 3.5% to 1.5% and organic sales growth of -1.5% to 0.5% compared to the previous year.
September 26, 2024 | 10:08 am
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Wesco reaffirms its 2024 financial outlook, maintaining expectations for adjusted EPS between $12 and $13. The company anticipates mid-single-digit organic growth and aims to grow EBITDA at twice the rate of sales. Sales are expected to decline by 3.5% to 1.5%, with organic sales growth ranging from -1.5% to 0.5%.
Wesco's reaffirmation of its 2024 outlook suggests stability in its financial projections, which is neutral for the stock price in the short term. The expected decline in sales may be offset by the company's strategic focus on higher growth and margin markets, as well as its aim to grow EBITDA at twice the rate of sales.
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