Company: WCC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000929008-25-000023
Chunk: 52

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 52
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 $293.2 million and $5.92, respectively, for the first six months of 2025 compared to $319.2 million and $6.22, respectively, for the first six 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 $277.2 million and $5.60, respectively, for the first six months of 2025 and $282.9 million and $5.51, respectively, for the first six months of 2024.

The increase in adjusted earnings per diluted share primarily reflects the increase in net sales as well as the decrease in interest expense, 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 shares during the first six months of 2025 as compared to the first six months of 2024.

Adjusted EBITDA

Adjusted EBITDA, a non-GAAP financial measure, was $704.9 million for the first six months of 2025 compared to $740.5 million for the first six months of 2024, a decrease of $35.6 million, or 4.8% year-over-year. The decrease primarily reflects a $381.2 million increase in cost of goods sold, and a $50.7 million increase in SG&A expenses, as described above, partially offset by a $413.6 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 first six months of 2025 compared to the first six months of 2024, and a $4.8 million increase from the absence of excise taxes on excess pension plan assets in first six months of 2025 compared to the first six months of 2024. Additionally, there was a year-over-year decrease in restructuring costs of $7.4 million. All three items are adjustments to calculate adjusted EBITDA. 

Segment Results

Electrical & Electronic Solutions

Six Months EndedGrowth/(Decline)June 30, 2025June 30, 2024Reported SalesAcquisitionForeign ExchangeWorkdayOrganic