Why Shares of Wesco Are Up Today
Shares of Wesco International (NYSE: WCC) climbed 9% higher on Thursday morning, after the electrical component distributor reported better-than-expected quarterly results. Before markets opened Thursday, Wesco reported second-quarter adjusted earnings of $1.04 per share on revenue of $2.1 billion, beating analyst expectations for $0.66 per share in earnings on revenue of $1.9 billion. The company late in the quarter completed its $4.5 billion acquisition of cabling and electrical wire provider Anixter International, creating a global electrical and data communications equipment powerhouse.
