$WCC · WESCO INTERNATIONAL INC
WESCO International filed its Q3 FY2026 10-Q, reporting net sales of $7.226B (+16.6% YoY), GAAP diluted EPS of $5.43, and net income attributable to common stockholders of $267.8M. Adjusted EBITDA reached $561.5M, up 32.7% year-over-year, driven by volume growth and gross margin expansion across all three segments.
- Q3 net sales of $7.226B, up 16.6% YoY from $6.199B
- Q3 GAAP diluted EPS of $5.43 vs $3.79 a year ago
- Q3 net income attributable to common stockholders: $267.8M vs $187.5M
- Adjusted EBITDA rose 32.7% YoY to $561.5M from $423.0M
- EES segment organic sales grew 17.8%, driven by OEM and construction volume
Markets closed — no regular-session reaction yet; extended-hours move not captured here. WCC closed at $366.71 (+5.61% on the day) before the 10-Q filing.
WESCO delivered broad-based double-digit growth with 32.7% Adjusted EBITDA expansion, but the sharp working-capital build raises questions about cash conversion quality.
WESCO's 16.6% revenue growth and 32.7% Adjusted EBITDA expansion significantly outpace typical industrial distribution peers, reflecting strong non-residential construction and OEM demand tailwinds that also benefit competitors like Graybar and Sonepar.
Allowance for expected credit losses rose to $84.5M from $63.6M at year-end 2025, signaling deteriorating receivables quality. Trade accounts receivable ballooned to $5.05B from $4.07B, and inventories jumped to $4.69B from $4.01B — both could pressure working capital if demand softens.