WESCO Cuts Full Year Guidance - Quick Facts

(RTTNews) - WESCO International, Inc. (WCC) reported that, based on its third quarter results and a challenging market outlook, the company now estimates full year earnings per share of $4.15 to $4.30 on sales down 4% to 5% from the prior year. The company's previous estimate was earnings per share of $4.50 to $4.90 on sales flat to down 3%.

Analysts polled by Thomson Reuters expect the company to report profit per share of $4.35. Analysts' estimates typically exclude special items.

Based upon the strength of year-to-date free cash flow, the company increased its estimate of full year free cash flow to approximately equal to net income, above previous estimate of greater than 80% of net income.

For the third-quarter 2015, net income attributable to WESCO was $63.5 million, down 21.4% from $80.8 million for the prior year quarter. Earnings per share was $1.28 compared to $1.52. The company's third quarter sales declined 7% reflecting continued foreign exchange headwinds and weakness in the industrial market and certain non-residential construction sectors.