WESCO International Inc. (NYSE: WCC), Pittsburgh, PA, reported sales for the second quarter of $1.9 billion, down 4.4 percent year-over-year. Profit decreased 24.8 percent to $51.8 million.
Organic sales decreased 3 percent, while foreign exchange rates negatively impacted sales by 3 percent and were partially offset by a 1.6 percent positive impact from acquisitions.
Year-to-date sales were $3.7 billion, down 2.2 percent over the prior-year period, with organic sales down 0.1 percent. Profit decreased 18.2 percent to $98.7 million.
"Our second quarter sales declined 4 percent reflecting continued foreign exchange headwinds and weakness in the industrial market as well as a slow seasonal start in the non-residential construction market," said CEO John J. Engel. "For the quarter, organic sales in the U.S. were flat while organic sales in Canada declined 7 percent."
