Company: WCC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000929008-25-000023
Chunk: 147

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
Chunk 147
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 primarily as a result of an increase of $28.3 million in salaries and $9.6 million in benefits, partially offset by a decrease of $3.0 million in commissions and incentives.

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Table of Contents   WESCO INTERNATIONAL, INC. AND SUBSIDIARIES

SG&A expenses not related to payroll and payroll-related costs for the second quarter of 2025 were $330.7 million, an increase of $8.9 million compared to the same period in 2024, which primarily reflects higher costs to operate our facilities of $9.2 million, higher transportation costs of $8.2 million, higher IT costs of $5.4 million, and higher employee expenses of $2.9 million. These increases were partially offset by a $17.1 million decrease in other income and deductions, primarily attributable to the loss on abandonment of assets in the second quarter of 2024 as discussed above.

Income from Operations

Income from operations was $322.2 million for the second quarter of 2025 compared to $323.5 million for the second quarter of 2024, a decrease of $1.3 million, or 0.4%.

Interest Expense, net

Net interest expense totaled $92.9 million for the second quarter of 2025 compared to $98.8 million for the second quarter of 2024. The decrease of $5.9 million, or 6.0%, was primarily driven by lower interest rates on the Receivables Facility as well as lower borrowings and lower interest rates on the Revolving Credit Facility, partially offset by higher borrowings on the Receivables Facility throughout the second quarter of 2025 compared to the second quarter of 2024 due to the impact of the WIS divestiture on outstanding borrowings and increased working capital investments.

Other Income, net

Other non-operating income totaled $7.3 million for the second quarter of 2025 compared to $95.9 million for the second quarter of 2024. We recognized a net foreign currency exchange gain of $3.0 million for the second quarter of 2025 compared to a net foreign currency exchange loss of $3.4 million for the second quarter of 2024. We recognized $2.3 million of income in the second quarter of 2025 from an adjustment to the fair value of the contingent consideration liability related to the entroCIM acquisition. We recognized net benefits of $0.8 million and