WESCO International Q2 Profit Rises

(RTTNews) - WESCO International, Inc. (WCC) reported that its second-quarter net income attributable to the company was $65.3 million up 10.9% from $58.9 million for the prior year quarter. Earnings per share for the quarter increased to $1.25 per share, from $1.15 per share in the second quarter of 2012.

Net sales were $1.894 billion for the second quarter of 2013, compared to $1.673 billion for the second quarter of 2012, an increase of 13.2%.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.34 per share and revenues of $1.92 billion for the quarter. Analysts' estimates typically exclude special items.

The company expects organic sales growth in the second half but less than our prior expectations, and have revised its full year outlook to approximately $5.15 to $5.35 earnings per diluted share, which equates to 18% to 22% growth over prior year, excluding the ArcelorMittal litigation impacts. Analysts expect the company to report earnings of $5.56 per share for fiscal 2013.