PITTSBURGH, Penn. — John J. Engel, WESCO’s Chairman, President and CEO commented, “Our fourth quarter results to date are in line with the expectations we outlined in our third quarter earnings call. We reaffirm our full year outlook of 4% to 5% sales decline, $4.15 to $4.30 earnings per diluted share, and free cash flow generation of approximately 100% of net income.”
Mr. Engel continued, “We expect reduced demand in commodity-driven end markets and foreign exchange headwinds to continue throughout next year. As a result, we expect sales in the range of flat to down 5%, EPS of $3.75 to $4.20 per diluted share, and free cash flow generation of at least 90% of net income in 2016.
“We remain clearly focused on executing our One WESCO strategy to deliver above-market sales growth, improve profitability, generate strong cash flow, and increase shareholder value. Our acquisition pipeline remains robust, and we see excellent ongoing opportunities to strengthen our electrical core and broaden our portfolio of products and services. The free cash flow generation capability of our business supports continued investment in our One WESCO growth initiatives, including acquisitions, while providing a return of capital to shareholders.”
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