WESCO International Inc. (NYSE: WCC), Pittsburgh, PA, reported sales for the third quarter of $1.9 million, down 7.4 percent compared to the same period the previous year. Profit decreased 21.4 percent to $63.5 million.
Organic sales decreased 5.3 percent, acquisitions positively impacted sales by 2 percent, and foreign exchange rates negatively impacted sales by 4.1 percent.
For the first nine months, WESCO reported sales of $5.7 billion, down percent from the same period a year ago. Profit declined 19.5 percent to $162.3 million.
"We expect reduced demand in commodity-driven end markets and foreign exchange headwinds to continue into 2016," CEO John Engel said. "The completion of cost reduction actions initiated in the second quarter are improving our second half profitability. We are continuing to simplify and streamline the business in the fourth quarter by reducing management structure and expect these changes to further improve our operational effectiveness while reducing costs in 2016."
