WESCO International, Inc. has recently released its 10-K report, providing an in-depth look into the company's financial performance and operations. WESCO International, Inc. is a leading provider of business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. The company operates through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS). WESCO International, Inc. was founded in 1922 and is headquartered in Pittsburgh, Pennsylvania.
In the 10-K report, the company's management discusses the financial condition and results of operations, including the use of certain non-GAAP financial measures. The report also provides an overview of the company's overall financial performance in 2024 compared to 2023. It highlights a single-digit decline in sales driven by a decrease in volume partially offset by the benefits of price inflation in certain segments. The report also details the factors contributing to the decline in net sales, including the impact of the divestiture of the Wesco Integrated Supply (“WIS”) business, fluctuations in foreign exchange rates, and changes in price.
The report delves into the income from operations, which decreased by 13.0% in 2024 compared to 2023. It outlines the various costs and expenses that impacted the income from operations, such as digital transformation costs, loss on abandonment of assets, restructuring costs, and excise taxes on excess pension plan assets. The discussion also provides adjusted figures to offer a better understanding of the company's financial performance.
Furthermore, the 10-K report includes details about the company's cash flow, investing activities, and financing activities for the year 2024. It highlights the operating cash flow, net cash provided by operating activities, and the impact of investing and financing activities on the company's financial position.
The report also discusses the company's financing availability, stating that as of December 31, 2024, WESCO International, Inc. had $1.2 billion in total available borrowing capacity under its Revolving Credit Facility and $100.0 million of available borrowing capacity under its Receivables Facility, both maturing in March 2027.
Additionally, the 10-K report covers critical accounting estimates, focusing on goodwill and indefinite-lived intangible assets, defined benefit pension plans, and income taxes. It provides insights into the methodologies, assumptions, and sensitivity analyses used in determining these critical accounting estimates, offering transparency into the company's financial reporting practices.
Following these announcements, the company's shares moved 1.6%, and are now trading at a price of $196.85. If you want to know more, read the company's complete 10-K report here.
