Company: WCC
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000929008-25-000034
Chunk: 117

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 117
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 year period.

36

Table of Contents   WESCO INTERNATIONAL, INC. AND SUBSIDIARIES

Net Income and Earnings per Share

Net income and earnings per diluted share attributable to common stockholders were $480.6 million and $9.71, respectively, for the first nine months of 2025 compared to $509.1 million and $10.02, respectively, for the first nine months of 2024. Adjusted for the non-GAAP adjustments above and the related income tax effects, and the $27.6 million gain recognized as a result of the Company's redemption of its outstanding Series A Preferred Stock, net income and earnings per diluted share attributable to common stockholders were $470.9 million and $9.51, respectively, for the first nine months of 2025 and $461.0 million and $9.07, respectively, for the first nine months of 2024.

The increase in adjusted earnings per diluted share primarily reflects the favorable impact of the June 2025 Series A Preferred Stock redemption and the corresponding decrease in preferred dividends, as well as the increase in net sales as discussed above, partially offset by the increase in cost of goods sold as a percentage of net sales, the decrease in other income, and the increase in SG&A expenses. Additionally, there was a positive impact from the reduction in outstanding common shares during the first nine months of 2025 as compared to the first nine months of 2024.

Adjusted EBITDA

Adjusted EBITDA, a non-GAAP financial measure, was $1,127.8 million for the first nine months of 2025 compared to $1,138.6 million for the first nine months of 2024, a decrease of $10.8 million, or 0.9% year-over-year. The decrease primarily reflects a $986.2 million increase in cost of goods sold, and a $142.5 million increase in SG&A expenses, as described above, partially offset by a $1,123.3 million increase in net sales. Included in the increase in SG&A expenses was a $17.8 million increase from the absence of asset abandonment loss in the first nine months of 2025 compared to the first nine months of 2024, a $6.6 million increase from digital transformation costs, and a $4.8 million increase from the absence of excise taxes on excess pension plan assets in first nine months of 2025 compared to the first nine months of