wcc-20260331

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)


☑						QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2026


☐						TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number: 001-14989

WESCO International, Inc.

(Exact name of registrant as specified in its charter)


Delaware		25-1723342
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

225 West Station Square Drive Suite 700		15219
Pittsburgh,	Pennsylvania	(Zip Code)
(Address of principal executive offices)

(412) 454-2200

(Registrant's telephone number, including area code)

Not applicable.

(Former name, former address and former fiscal year, if changed since last report)

SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $.01 per share

WCC

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for at least the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☑

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑

As of April 29, 2026, 48,704,892 shares of common stock, $0.01 par value, of the registrant were outstanding.

WESCO INTERNATIONAL, INC. AND SUBSIDIARIES

QUARTERLY REPORT ON FORM 10-Q

Table of Contents


			Page
PART I—FINANCIAL INFORMATION

Item 1. Financial Statements.			2

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.			21

Item 3. Quantitative and Qualitative Disclosures About Market Risk.			32

Item 4. Controls and Procedures.			32

PART II—OTHER INFORMATION

Item 1. Legal Proceedings.			34

Item 1A. Risk Factors.			34

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.			34

Item 6. Exhibits.			35

Signatures			36

Table of Contents

WESCO INTERNATIONAL, INC. AND SUBSIDIARIES

PART I—FINANCIAL INFORMATION

Item 1. Financial Statements.

The interim financial information required by this item is set forth in the unaudited Condensed Consolidated Financial Statements and Notes thereto in this Quarterly Report on Form 10-Q, as follows:


			Page

Condensed Consolidated Balance Sheets (unaudited)			3
Condensed Consolidated Statements of Income and Comprehensive Income (unaudited)			4
Condensed Consolidated Statements of Cash Flows (unaudited)			5
Condensed Consolidated Statements of Equity (unaudited)			6
Notes to Condensed Consolidated Financial Statements (unaudited)			7

Table of Contents

WESCO INTERNATIONAL, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In millions, except shares)

(unaudited)


	As of
Assets	March 31, 2026		December 31, 2025
Current assets:
Cash and cash equivalents	$	696.6	$	604.8
Trade accounts receivable, net of allowance for expected credit losses of $67.8 and $63.6 in 2026 and 2025, respectively	4,273.1		4,069.6
Other accounts receivable	478.9		522.4
Inventories	4,213.1		4,008.8
Prepaid expenses and other current assets	291.9		250.6
Total current assets	9,953.6		9,456.2
Property, buildings and equipment, net of accumulated depreciation of $649.3 and $626.1 in 2026 and 2025, respectively	476.0		466.8
Operating lease assets	889.0		888.3
Intangible assets, net	1,745.9		1,769.2
Goodwill	3,331.6		3,343.4
Deferred income taxes	48.4		45.7
Other assets	520.2		525.3
Total assets	$	16,964.7	$	16,494.9
Liabilities and Equity
Current liabilities:
Accounts payable	$	3,470.5	$	3,030.5
Accrued payroll and benefit costs	203.5		283.0
Short-term debt and current portion of long-term debt	22.8		25.0
Other current liabilities	991.4		958.3
Total current liabilities	4,688.2		4,296.8
Long-term debt, net of debt discount and debt issuance costs of $63.6 and $48.0 in 2026 and 2025, respectively	5,738.1		5,756.4
Operating lease liabilities	749.7		752.2
Deferred income taxes	455.8		427.2
Other noncurrent liabilities	235.0		235.9
Total liabilities	$	11,866.8	$	11,468.5
Commitments and Contingencies (Note 11)
Equity:
Preferred stock, $.01 par value; 20,000,000 shares authorized, no shares issued or outstanding	$	—	$	—
Common stock, $.01 par value; 210,000,000 shares authorized, 70,162,020 and 70,004,866 shares issued and 48,698,535 and 48,658,333 shares outstanding in 2026 and 2025, respectively	0.7		0.7
Class B nonvoting convertible common stock, $.01 par value; 20,000,000 shares authorized, 4,339,431 issued and no shares outstanding in 2026 and 2025, respectively	—		—
Additional capital	1,515.3		1,507.3
Retained earnings	5,635.8		5,513.4
Treasury stock, at cost; 25,802,916 and 25,685,964 shares in 2026 and 2025, respectively	(1,622.6)		(1,590.3)
Accumulated other comprehensive loss	(426.4)		(399.5)
Total WESCO International, Inc. equity	5,102.8		5,031.6
Noncontrolling interests	(4.9)		(5.2)
Total equity	5,097.9		5,026.4
Total liabilities and equity	$	16,964.7	$	16,494.9

The accompanying notes are an integral part of the Condensed Consolidated Financial Statements.

Table of Contents

WESCO INTERNATIONAL, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(In millions, except per share data)

(unaudited)


	Three Months Ended
	March 31
	2026		2025
Net sales	$	6,080.1	$	5,343.7
Cost of goods sold (excluding depreciation and amortization)	4,788.3		4,218.1
Selling, general and administrative expenses	947.6		836.3
Depreciation and amortization	50.7		48.4
Income from operations	293.5		240.9
Interest expense, net	96.7		86.3
Other (income) expense, net	(0.4)		0.2
Income before income taxes	197.2		154.4
Provision for income taxes	43.1		36.1
Net income	154.1		118.3
Less: Net income (loss) attributable to noncontrolling interests	0.3		(0.1)
Net income attributable to WESCO International, Inc.	153.8		118.4
Less: Preferred stock dividends	—		14.4
Net income attributable to common stockholders	$	153.8	$	104.0

Earnings per share attributable to common stockholders
Basic	$	3.16	$	2.13
Diluted	$	3.11	$	2.10

Other comprehensive (loss) income:
Foreign currency translation adjustments and other	(26.4)		16.1
Post-retirement benefit plan adjustments, net of tax	(0.5)		(0.3)
Other comprehensive (loss) income	(26.9)		15.8
Comprehensive income	127.2		134.1
Less: Comprehensive income (loss) attributable to noncontrolling interests	0.3		(0.1)
Less: Preferred stock dividends	—		14.4
Comprehensive income attributable to common stockholders	$	126.9	$	119.8

The accompanying notes are an integral part of the Condensed Consolidated Financial Statements.

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WESCO INTERNATIONAL, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(unaudited)


	Three Months Ended
	March 31
	2026		2025
Operating activities:
Net income	$	154.1	$	118.3
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	50.7		48.4
Stock-based compensation expense	16.1		10.2
Cloud computing arrangement amortization	11.0		3.9
Amortization of debt issuance costs and debt discount	3.5		3.3


Deferred income taxes	27.5		0.9

Other operating activities, net	(0.8)		(0.2)
Changes in assets and liabilities:
Trade accounts receivable, net	(216.1)		(188.7)
Other accounts receivable	66.4		65.1
Inventories	(215.2)		(227.4)
Other current and noncurrent assets	(48.4)		(35.6)
Accounts payable	449.5		343.8
Accrued payroll and benefit costs	(80.5)		(77.1)
Other current and noncurrent liabilities	3.6		(36.9)
Net cash provided by operating activities	221.4		28.0
Investing activities:
Capital expenditures	(23.4)		(20.4)
Acquisition payments, net of cash acquired	—		(35.2)

Other investing activities, net	3.5		1.2
Net cash used in investing activities	(19.9)		(54.4)
Financing activities:
Repayments of short-term debt, net	(4.4)		—


Proceeds from issuance of long-term debt	2,366.5		1,829.0
Repayments of long-term debt	(2,373.1)		(1,729.3)
Debt issuance costs	(19.1)		(14.0)
Payments for taxes related to net-share settlement of equity awards	(22.0)		(18.0)
Repurchases of common stock	(25.0)		(25.0)

Payment of common stock dividends	(24.4)		(22.1)
Payment of preferred stock dividends	—		(14.4)
Other financing activities, net	(6.7)		(3.9)
Net cash (used in) provided by financing activities	(108.2)		2.3
Effect of exchange rate changes on cash and cash equivalents	(1.5)		3.1
Net change in cash and cash equivalents	91.8		(21.0)
Cash and cash equivalents at the beginning of period	604.8		702.6
Cash and cash equivalents at the end of period	$	696.6	$	681.6
Supplemental disclosures:
Cash paid for interest	$	111.3	$	90.5
Cash paid for income taxes	$	27.5	$	78.6
Leased assets obtained in exchange for new lease liabilities:
Operating leases	$	60.9	$	93.3
Finance leases	$	16.1	$	8.2

The accompanying notes are an integral part of the Condensed Consolidated Financial Statements.

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WESCO INTERNATIONAL, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY

(In millions, except shares)

(unaudited)


				Class B			Series A					Retained							Accumulated Other Comprehensive Income (Loss)
	Common Stock			Common Stock			Preferred Stock			Additional		Earnings		Treasury Stock			Noncontrolling
	Amount		Shares	Amount		Shares	Amount		Shares	Capital		(Deficit)		Amount		Shares	Interests				Total
Balance, December 31, 2025	$	0.7	70,004,866	$	—	4,339,431	$	—	—	$	1,507.3	$	5,513.4	$	(1,590.3)	(25,685,964)	$	(5.2)	$	(399.5)	$

SEC Form 10-Q filed by WESCO International Inc.