Company: WCC
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000929008-25-000034
Chunk: 152

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 2
Chunk 152
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 Pension settlement cost represents expense related to the final settlement of the Company's U.S. pension plan. 

(3)    Gain on divestiture represents the gain recognized as a result of the divestiture of the Wesco Integrated Supply (“WIS”) business on April 1, 2024.

Income Taxes

The provision for income taxes was $155.7 million for the first nine months of 2025 compared to $188.1 million in last year's comparable period, resulting in effective tax rates of 24.4% and 25.4%, respectively. The lower effective tax rate for the first nine months of 2025 is due to higher discrete income tax benefits relating to the exercise and vesting of stock-based awards as compared to the prior year period.

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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,