Latest In Earnings
WESCO has also made an offer to acquire Anixter International.
Operating results declined due to weak global economic conditions, increased FedEx Ground costs from expanded service offerings, the loss of business from a large customer, a continuing mix shift to lower-yielding services and a more competitive pricing environment.
Sales for the first nine months increased 3.3%.
Annual sales were up 0.4% over 2018.
For fiscal 2019, sales grew 2% to $1.8 billion.
Sales for the first nine months of the year were up 13.6% over the same period in 2018.
Organic sales declined 17.3% primarily due to overall weaker end-market demand in both Engineered Components and Industrial.
