Stock Story -
Electrical supply company WESCO (NYSE:WCC) will be announcing earnings results tomorrow before market open. Here's what you need to know.
WESCO met analysts' revenue expectations last quarter, reporting revenues of $5.35 billion, down 3.1% year on year. It was a slower quarter for the company, with a miss of analysts' earnings estimates.
Is WESCO a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting WESCO's revenue to decline 3.2% year on year to $5.56 billion, a reversal from the 4.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.62 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. WESCO has missed Wall Street's revenue estimates three times over the last two years.
Looking at WESCO's peers in the maintenance and repair distributors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Transcat delivered year-on-year revenue growth of 10.1%, missing analysts' expectations by 3.8%, and Fastenal (NASDAQ:FAST) reported revenues up 1.8%, in line with consensus estimates. Transcat traded down 13.7% following the results while Fastenal was up 5.8%.
Read the full analysis of Transcat's and Fastenal's results on StockStory.
There has been positive sentiment among investors in the maintenance and repair distributors segment, with share prices up 9.4% on average over the last month. WESCO is up 8.5% during the same time and is heading into earnings with an average analyst price target of $195.8 (compared to the current share price of $170.79).
