NYSE: WCC First Quarter 2024 Webcast Presentation May 2, 2024 Forward-Looking Statements All statements made herein that are not historical facts should be considered as "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. These statements include, but are not limited to, statements regarding business strategy, growth strateg ...

Financial Data and Key Metrics Changes - The company reported record free cash flow generation of $731 million in Q1 2024, with trailing 12-month free cash flow exceeding $1.4 billion, indicating strong cash generation capabilities [7][34][38] - Financial leverage decreased to 2.6 times EBITDA, approaching the target range of 1.5 to 2.5 times [7][14] - The full-year free cash flow outlook was increased to a range of $800 million to $1 billion, representing more than 100% of adjusted net income at the midpoint [13][52] Business Line Data and Key Metrics Changes - Organic sales were down approximately 3% year-over-year, with a 1% benefit from price offset by lower volumes [15] - The EES business saw a 2% decline in organic sales, with construction sales flat and industrial sales up low single digits [22][24] - CSS business sales decreased by approximately 4%, with enterprise network infrastructure down low single digits and security sales down high single digits [25][27] - UBS sales were down 5%, with utility sales down low single digits and broadband sales down over 20% [30][32] Market Data and Key Metrics Changes - The company noted strong bid activity levels and backlog, supporting expectations for sequential growth as the year progresses [6][14] - Backlog in the EES business remains historically high, while CSS backlog is down 20% year-over-year but up 9% sequentially [24][29] - The company is experiencing a normalization of supplier lead times, which is expected to positively impact future sales [76] Company Strategy and Development Direction - The company plans to utilize proceeds from the divestiture of the Integrated Supply business for share repurchases, indicating a focus on returning capital to shareholders [11][39] - The long-term growth strategy is aligned with secular trends in electrification, green energy, and infrastructure investments, positioning the company for sustained growth [56] - The company aims to improve operational efficiency through digital transformation and cost reduction initiatives [39][49] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the overall business environment, citing strong bidding activity and healthy backlog levels [6][76] - The company reaffirmed its full-year outlook for organic sales growth, adjusted EBITDA margin, and adjusted earnings per share [12][46] - Management highlighted the expectation of improved gross margins in 2024, driven by the Integrated Supply divestiture and margin improvement programs [48][50] Other Important Information - The company completed $20 million of annualized structural cost reductions in Q1 2024, in addition to $45 million of cost reduction actions taken in 2023 [12] - The company is focused on maintaining a strong balance sheet while pursuing opportunities for share repurchases and potential M&A in the second half of the year [39][58] Q&A Session Summary Question: Comments on SG&A growth and productivity - Management indicated that SG&A growth for the full year is expected to be below revenue growth, despite a $100 million headwind from merit increases and restored incentive compensation [61][62] Question: Free cash flow performance and outlook - Management confirmed that the strong free cash flow guidance includes benefits from accounts payable and inventory management, with expectations for continued focus on reducing inventory days [63][64] Question: Tone of business and bidding activity - Management noted strong bid activity and backlog levels, with no significant structural changes in the role of electrical distribution in mega projects [74][76] Question: Inventory management and visibility improvements - Management discussed ongoing digital transformation efforts to improve inventory visibility and management, which are expected to yield benefits in the near term [69][72] Question: Sales trajectory and assumptions for 2024 - Management confirmed expectations for sequential sales growth, with typical seasonality anticipated throughout the year [90][91]

NEWS RELEASE WESCO International, Inc. / 225 West Station Square Drive, Suite 700 / Pittsburgh, PA 15219 Wesco International Reports First Quarter 2024 Results PITTSBURGH, May 2, 2024 /PR Newswire/ -- Wesco International (NYSE: WCC), a leading provider of business-to-business distribution, logistics services and supply chain solutions, announces its results for the first quarter of 2024. "Our first quarter sales met our expectations and were consistent with the outlook we provided during the quarter. Our pe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ☐ 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) FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or (State or other jurisdiction of incorporation ...

Financial Data and Key Metrics Changes - The company reported a disappointing fourth quarter with sales declining 2% year-over-year, below expectations for flat to slightly positive sales [6][22] - Full year revenue growth was 5% in 2023, following two years of double-digit increases, with a backlog near historical high levels [11][12] - Adjusted EBITDA decreased by 15% year-over-year, primarily due to lower sales and gross margin, as well as higher SG&A expenses [26][34] - Free cash flow generation totaled $444 million in 2023, below the expected range of $500 million to $700 million [55] Business Line Data and Key Metrics Changes - In the EES segment, fourth quarter organic sales were down approximately 4% year-over-year, with construction down high single digits and industrial sales up mid-single digits [43][45] - CSS segment sales were up 2% on a reported basis but down 1% organically, with data center sales driving growth [46][50] - UBS sales were down 2% in the quarter, with utility sales up low single digits and broadband sales down over 30% [51][54] Market Data and Key Metrics Changes - The company experienced customer destocking in shorter-cycle businesses, leading to a step-down in demand in the fourth quarter [22][28] - Preliminary sales per workday in January 2024 were down approximately 5% from the prior year, reflecting continued weakness in broadband and construction [28] Company Strategy and Development Direction - The company is narrowing its target leverage range to 1.5 to 2.5 times net debt to EBITDA, a reduction from the previous range of 2.0 to 3.5 times [15][57] - The company plans to increase its dividend by 10% in 2024 and continue its share repurchase program [17][59] - The digital transformation initiative is expected to enhance the company's capabilities and support long-term growth trends [14][21] Management Comments on Operating Environment and Future Outlook - Management acknowledged the uncertain economic backdrop due to the election cycle, easing inflation, and geopolitical issues but remains optimistic about long-term growth opportunities [13][14] - The company expects total revenue growth in 2024 to be between 1% to 4%, with organic sales flat to up 3% [67] Other Important Information - The integration of Anixter has transformed the company, leading to a significant increase in sales and adjusted EBITDA since the acquisition [18][19] - The company is focused on reducing working capital days and improving free cash flow in 2024 [72] Q&A Session Summary Question: Changes in customer behavior and stock and flow business - Management noted a shift in customer behavior with inventory management impacting stock and flow sales, particularly in the utility and broadband sectors [76][78] Question: Impacts of normalization on pricing and order patterns - Management indicated that pricing is normalizing to pre-COVID levels, with expectations for typical order patterns to return in 2024 [80][82] Question: Organizational issues and cash flow performance - Management acknowledged the disappointing cash flow performance, attributing it to a decline in accounts payable driven by lower stock and flow business [84][86] Question: Inventory days compared to peers - Management explained that higher inventory days are due to a greater percentage of project-related business, which involves longer lead times [90] Question: Rationale behind lowering the target debt range - Management expressed confidence in the company's cash generation capabilities and recognized investor feedback for a lower leverage ratio [92] Question: Uses of cash going forward - Management outlined plans for opportunistic share repurchases and emphasized maintaining sufficient cash on the balance sheet for operations [94][96]

PART I—FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements.) This section presents the unaudited Condensed Consolidated Financial Statements for WESCO International, Inc. as of September 30, 2023, and for the three and nine-month periods then ended, including Balance Sheets, Statements of Income and Comprehensive Income, Statements of Cash Flows, Statements of Stockholders' Equity, and accompanying notes [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$15.17 billion** as of September 30, 2023, from **$14.81 billion** at year-end 2022, driven by increases in cash and cash equivalents and inventories, while total liabilities slightly decreased to **$10.29 billion**, leading to an increase in total stockholders' equity to **$4.88 billion** Condensed Consolidated Balance Sheet Highlights (in millions) | Account | Sep 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | **Total current assets** | $8,611.4 | $8,330.5 | | **Total assets** | **$15,168.6** | **$14,811.7** | | **Total current liabilities** | $3,653.6 | $3,817.3 | | **Total liabilities** | **$10,286.1** | **$10,362.1** | | **Total stockholders' equity** | $4,882.5 | $4,449.6 | [Condensed Consolidated Statements of Income and Comprehensive Income](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20and%20Comprehensive%20Income) For Q3 2023, net sales grew to **$5.64 billion** from **$5.45 billion** year-over-year, but net income attributable to common stockholders slightly decreased to **$219.0 million** from **$225.2 million**, while for the nine-month period, net sales increased to **$16.91 billion** from **$15.86 billion**, and net income attributable to common stockholders decreased to **$580.5 million** from **$598.5 million** Income Statement Highlights (in millions, except per share data) | Metric | Q3 2023 | Q3 2022 | YTD 2023 | YTD 2022 | | :--- | :--- | :--- | :--- | :--- | | Net sales | $5,644.4 | $5,445.9 | $16,911.8 | $15,861.6 | | Income from operations | $380.5 | $401.6 | $1,090.7 | $1,056.3 | | Net income attributable to common stockholders | $219.0 | $225.2 | $580.5 | $598.5 | | Diluted EPS | $4.20 | $4.30 | $11.08 | $11.42 | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended September 30, 2023, the company generated **$423.9 million** in cash from operating activities, a significant improvement from a **$410.6 million** use of cash in the same period of 2022, primarily due to better working capital management, with net cash used in financing activities totaling **$253.4 million** driven by debt repayments, dividends, and share repurchases Cash Flow Summary for Nine Months Ended Sep 30 (in millions) | Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $423.9 | $(410.6) | | Net cash used in investing activities | $(61.2) | $(57.2) | | Net cash (used in) provided by financing activities | $(253.4) | $477.2 | | **Net change in cash and cash equivalents** | **$104.1** | **$21.5** | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes provide detailed disclosure on accounting policies, revenue disaggregation, acquisitions, goodwill, debt, stock-based compensation, and segment performance, highlighting the integration of the Rahi Systems acquisition, revenue growth in the CSS and UBS segments, and a lower effective tax rate due to discrete benefits - The company operates through three strategic business units: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility & Broadband Solutions (UBS)[28](index=28&type=chunk) - On November 1, 2022, the company acquired Rahi Systems Holdings, Inc., a provider of global hyperscale data center solutions, which contributed **$131.1 million** and **$417.6 million** of net sales for the three and nine months ended September 30, 2023, respectively[44](index=44&type=chunk)[47](index=47&type=chunk) - During Q3 2023, the company repurchased 325,449 shares of its common stock for **$50.5 million** under its **$1 billion** share repurchase authorization[61](index=61&type=chunk) Net Sales by Segment (in millions) | Segment | Q3 2023 | Q3 2022 | YTD 2023 | YTD 2022 | | :--- | :--- | :--- | :--- | :--- | | Electrical & Electronic Solutions | $2,190.7 | $2,234.8 | $6,526.1 | $6,654.9 | | Communications & Security Solutions | $1,778.0 | $1,602.4 | $5,360.9 | $4,638.6 | | Utility & Broadband Solutions | $1,675.7 | $1,608.7 | $5,024.8 | $4,568.1 | | **Total** | **$5,644.4** | **$5,445.9** | **$16,911.8** | **$15,861.6** | [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=23&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management discusses the financial results for the third quarter and first nine months of 2023, highlighting single-digit sales growth driven by price inflation, secular trends, and the Rahi Systems acquisition, alongside margin performance, integration synergies, digital transformation initiatives, segment-level performance, liquidity, capital resources, and cash flow analysis [Company Overview](index=26&type=section&id=Company%20Overview) Wesco is a leading global provider of business-to-business distribution, logistics, and supply chain solutions, employing approximately 20,000 people, serving 150,000 customers, and operating through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility & Broadband Solutions (UBS) - Wesco operates approximately 800 branches, warehouses, and sales offices in over 50 countries[94](index=94&type=chunk) - The EES segment supplies electrical equipment, automation, lighting, and MRO products to construction, industrial, and OEM markets[96](index=96&type=chunk) - The CSS segment is a leader in network infrastructure and security markets, with offerings in safety and energy management[97](index=97&type=chunk) - The UBS segment provides products and services to utilities, public power companies, and broadband operators, and also includes Wesco's integrated supply business[98](index=98&type=chunk) [Results of Operations](index=29&type=section&id=Results%20of%20Operations) For Q3 2023, net sales increased **3.6%** to **$5.6 billion**, with organic sales up **2.8%**, and Adjusted EBITDA was **$457.0 million**; for the nine months, net sales grew **6.6%** to **$16.9 billion**, with organic sales up **5.3%**, driven by price realization and volume, particularly in the CSS and UBS segments, partially offset by higher SG&A expenses from wage inflation and digital transformation initiatives Q3 2023 vs Q3 2022 Net Sales Growth | Metric | Value | | :--- | :--- | | Reported Growth | 3.6% | | Acquisition Impact | 2.4% | | Workday Impact | (1.6%) | | **Organic Sales Growth** | **2.8%** | YTD 2023 vs YTD 2022 Net Sales Growth | Metric | Value | | :--- | :--- | | Reported Growth | 6.6% | | Acquisition Impact | 2.6% | | Foreign Exchange Impact | (0.8%) | | Workday Impact | (0.5%) | | **Organic Sales Growth** | **5.3%** | - SG&A expenses for the first nine months of 2023 increased by **$194.7 million** year-over-year, driven by higher salaries from wage inflation and the Rahi Systems acquisition, increased sales commissions, and costs for digital transformation initiatives[142](index=142&type=chunk)[143](index=143&type=chunk)[144](index=144&type=chunk) - Net interest expense increased **41.1%** to **$292.3 million** for the first nine months of 2023, reflecting higher borrowings and an increase in variable interest rates[147](index=147&type=chunk) [Segment Results](index=31&type=section&id=Segment%20Results) In Q3 2023, CSS led growth with an **11.0%** increase in net sales, driven by the Rahi acquisition and **4.1%** organic growth, while UBS grew **4.2%** (**5.8%** organic) on strong utility market demand, and EES sales declined **2.0%** (**0.2%** organic decline) due to downturns in construction and manufactured structures, with Adjusted EBITDA margins of **8.7%** for EES, **9.9%** for CSS, and **11.7%** for UBS Q3 2023 Segment Performance | Segment | Net Sales (in millions) | YoY Change | Organic Sales Growth | Adjusted EBITDA (in millions) | Adjusted EBITDA Margin | | :--- | :--- | :--- | :--- | :--- | :--- | | EES | $2,190.7 | (2.0%) | (0.2%) | $191.5 | 8.7% | | CSS | $1,778.0 | 11.0% | 4.1% | $175.5 | 9.9% | | UBS | $1,675.7 | 4.2% | 5.8% | $196.4 | 11.7% | YTD 2023 Segment Performance | Segment | Net Sales (in millions) | YoY Change | Organic Sales Growth | Adjusted EBITDA (in millions) | Adjusted EBITDA Margin | | :--- | :--- | :--- | :--- | :--- | :--- | | EES | $6,526.1 | (1.9%) | (0.5%) | $563.5 | 8.6% | | CSS | $5,360.9 | 15.6% | 7.9% | $510.5 | 9.5% | | UBS | $5,024.8 | 10.0% | 10.9% | $572.7 | 11.4% | [Liquidity and Capital Resources](index=39&type=section&id=Liquidity%20and%20Capital%20Resources) As of September 30, 2023, the company had total liquidity of **$1.1 billion**, including cash and available borrowings, with the financial leverage ratio improving to **2.7x** from **2.9x** at year-end 2022, and operating cash flow for the first nine months was a strong inflow of **$423.9 million**, with capital allocation priorities focused on debt reduction, digital transformation, and returning capital to shareholders - Total liquidity as of September 30, 2023, was **$1,102.7 million**, consisting of **$366.4 million** in cash and over **$736 million** in available borrowing capacity[167](index=167&type=chunk) - The financial leverage ratio (Total debt, net of cash / Adjusted EBITDA) decreased to **2.7x** as of September 30, 2023, compared to **2.9x** as of December 31, 2022[173](index=173&type=chunk)[175](index=175&type=chunk) - Capital allocation priorities include debt reduction, digital transformation initiatives, dividends, and share repurchases[170](index=170&type=chunk) - Net cash from operating activities was a **$423.9 million** inflow for the first nine months of 2023, a significant turnaround from the **$410.6 million** outflow in the prior-year period, driven by improved working capital management[181](index=181&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=43&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk.) This section refers to the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022, for a discussion of market risks, indicating no material changes since that filing - The company states there are no material changes to the market risks previously disclosed in its 2022 Annual Report on Form 10-K[194](index=194&type=chunk) [Controls and Procedures](index=43&type=section&id=Item%204.%20Controls%20and%20Procedures.) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and internal control over financial reporting, concluding that these controls were effective as of September 30, 2023, with no material changes to internal controls reported during the quarter - The principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures and internal control over financial reporting were effective as of the end of the period[195](index=195&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[196](index=196&type=chunk) PART II—OTHER INFORMATION [Legal Proceedings](index=44&type=section&id=Item%201.%20Legal%20Proceedings.) The company is involved in various lawsuits and claims related to its business operations, but management does not believe the ultimate outcome of any pending matters will have a material adverse effect on the company's financial condition or liquidity - The company is subject to various lawsuits and claims from time to time, and management believes these are unlikely to have a material adverse effect on its financial condition or liquidity[198](index=198&type=chunk) [Risk Factors](index=44&type=section&id=Item%201A.%20Risk%20Factors.) This section states that there have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022 - There have been no material changes to the risk factors disclosed in the company's 2022 Annual Report on Form 10-K[199](index=199&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) During Q3 2023, the company purchased a total of 402,485 shares, including 325,449 shares repurchased as part of its publicly announced plan, with approximately **$938.9 million** remaining available for future repurchases under the authorized program as of the end of the quarter Issuer Purchases of Common Stock (Q3 2023) | Period | Total Shares Purchased | Average Price Paid Per Share | Shares Purchased as Part of Plan | Approx. Dollar Value Remaining Under Plan (in millions) | | :--- | :--- | :--- | :--- | :--- | | July 2023 | 76,415 | $178.46 | — | $988.9 | | August 2023 | 325,769 | $153.64 | 325,449 | $938.9 | | September 2023 | 301 | $143.82 | — | $938.9 | | **Total** | **402,485** | **$158.34** | **325,449** | | - The company's Board of Directors authorized a repurchase program of up to **$1 billion** of common and preferred stock on May 31, 2022, which has no expiration date[200](index=200&type=chunk) [Other Information](index=44&type=section&id=Item%205.%20Other%20Information.) This section reports that Glynis A. Bryan received approval from the Federal Energy Regulatory Commission and became a director of Wesco International and a member of its Audit Committee, effective October 16, 2023 - Glynis A. Bryan became a director and member of the Audit Committee effective October 16, 2023, after receiving approval from the Federal Energy Regulatory Commission[201](index=201&type=chunk) [Exhibits](index=44&type=section&id=Item%206.%20Exhibits.) This section lists the exhibits filed with the Form 10-Q, including CEO and CFO certifications pursuant to Sarbanes-Oxley Act Rules 13a-14(a) and Section 1350, and the Inline XBRL documents Signatures

WESCO International, Inc. (NYSE:WCC) Q3 2023 Earnings Conference Call November 2, 2023 10:00 AM ET Company Participants Scott Gaffner - SVP, IR John Engel - Chairman, President and CEO David Schulz - EVP and CFO Conference Call Participants Deane Dray - RBC Capital Markets Sam Darkatsh - Raymond James Nigel Coe - Wolfe Research David Manthey - Baird Katie Fleischer - KeyBanc Patrick Baumann - JPMorgan Operator Hello, and welcome to WESCO's Third Quarter Earnings Call. I would like to remind you that all lin ...

FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the transition period from to (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-14989 (412) 454-2200 WESCO International, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdicti ...

Financial Data and Key Metrics Changes - The company reported record second quarter sales, although they were below expectations due to a decline in the EES business [6][18] - Free cash flow generation was strong at $293 million, bringing the year-to-date total back to positive [10][62] - Financial leverage decreased to 2.8 times, the lowest level since the Anixter acquisition in June 2020 [11][47] - Adjusted diluted EPS for the quarter was $3.71, which is 11% below the prior year [23] Business Line Data and Key Metrics Changes - CSS and UBS businesses experienced strong growth, with CSS sales up 16% year-over-year and UBS sales up 10% [34][38] - EES organic sales were down 5% year-over-year, primarily due to supply chain rebalancing and weakness in commercial construction [28][54] - Gross margin remained stable at 21.6% year-over-year, with adjusted EBITDA flat compared to the prior year [22][27] Market Data and Key Metrics Changes - Project backlog was up 6% year-over-year, indicating strong future demand [21] - The company expects market volumes to be relatively flat year-over-year, with gains in CSS and UBS offset by declines in EES [52] - Broadband sales were down low double-digits as customers worked through inventory [39] Company Strategy and Development Direction - The company is focused on digital transformation and capturing additional market share [12] - A cost reduction initiative of $25 million annually was implemented to address current market conditions [13][57] - The company is increasing its sales synergy target from $1.8 billion to $2 billion, reflecting strong cross-sell execution [8][43] Management's Comments on Operating Environment and Future Outlook - Management noted that supply chain disruptions are correcting, with lead times returning to pre-pandemic levels [9] - The outlook for 2023 was revised, expecting organic sales growth of approximately 4% to 6% [52] - Management remains confident in the long-term growth potential of the EES business despite recent challenges [14][66] Other Important Information - The company highlighted a $120 million multiyear contract for an electric vehicle manufacturing facility as a significant project win [32] - The company expects to generate significant cash flow in the second half of the year, enabling continued investment in strategic objectives [62] Q&A Session Summary Question: Timing of the destocking process - Management indicated that destocking began in CSS last year and is now occurring in EES, with expectations for EES to return to growth in the second half of the year [64][66] Question: Demand side and commercial construction - Management clarified that the decline in commercial construction is related to destocking in the stock and flow business, not project delays [68] Question: Pricing expectations - Management expects positive pricing in the back half of the year but anticipates a step down compared to the first half [70][72] Question: Backlog composition - EES makes up about half of the total backlog, with ongoing supply chain issues affecting lead times for certain products [73][74] Question: Opportunities to pay down higher coupon debt - Management is exploring refinancing opportunities for higher coupon debt maturing in 2025 [88] Question: Margin mix for mega projects - Management noted that while mega projects may have lower gross margins, they also incur lower SG&A costs [89]

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, 2023 or ☐ 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) (State or other jurisdiction of incorpor ...