WASHINGTON (dpa-AFX) - Wesco (WCC) reduced full-year outlook and now expects organic sales between a decline of 1.5% and an increase of 0.5% from prior year and adjusted EBITDA margin of 7.0% to 7.3%.
John Engel, CEO, said: 'We expect the mixed economic environment and customer purchasing delays in utility and broadband to continue through the second half of 2024. Quoting, bid activity levels, and our backlog remain healthy, supporting our view for sales growth in the second half against an easier year-over-year comparable, but at a more modest rate than our previous outlook.'
Wesco said, with its record $500 million of free cash flow generation in the first half, the company is on track to deliver full year free cash flow outlook of $800 million to $1 billion and will continue to execute capital allocation strategies.
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