WESCO Tanks After Q4 Earnings, Revenue Fall, Below Consensus

(RTTNews) - Shares of electrical distribution and services company WESCO International, Inc. (WCC) are falling more than 19 percent Tuesday morning after the company reported fourth-quarter results below the Street view.

Profit for the fourth quarter declined to $127.6 million or $2.45 per share from $204.6 million or $3.90 per share in the same quarter a year ago.

Excluding one-time items, earnings were $2.65 per share, that missed the average estimate of analysts polled by Thomson-Reuters of $3.86 per share.

Net sales were $5.473 billion for the fourth quarter compared with $5.559 billion last year, a decrease of 1.5%. The consensus estimate was for $5.59 billion.

WCC, currently at $151.20, has traded in the $121.91 - $195.43 in the last 1 year.