Now Doubled in Size, WESCO's Daily Sales Accelerate in Q4 :

Now Doubled in Size, WESCO's Daily Sales Accelerate in Q4


Now Doubled in Size, WESCO's Daily Sales Accelerate in Q4
Year-over-year results were heavily skewed by the recent Anixter acquisition, while the company achieved solid daily sales growth compared to Q3.
Feb 9th, 2021
Pittsburgh-based electrical and industrial supplies distributor WESCO International reported its 2020 fourth quarter and full-year financial results on Tuesday, marking the second full fiscal quarter since the company's landmark $4.5 billion acquisition of Anixter International that completed this past June.
The company's year-over-year results were expectedly heavily skewed year-over-year due to Anixter, with Q4 sales up 97 percent from a year earlier and full year sales up 48 percent from 2019.
Due to Anixter, it may be more appropriate to look at WESCO's sequential results as a better performance indicator. In Q4, WESCO's sales of $4.13 billion were up 4.4 percent from Q3 on a daily basis, as Q3 had three additional work days, comparatively.  Due to Anixter, WESCO's Q4 cost of goods doubled year-over-year to $3.4 billion, while gross profit also nearly doubled to $772 million. Sequentially, that gross profit total was down 1.7 percent from Q3, while gross margin of 18.7 percent was down slightly from 19.0 percent in Q3.

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