WESCO International, Pittsburgh, confirmed its expectations to end 2016 with an overall sales decline of 2% to 3%, but its leadership expects modest improvement in 2017.
“We expect modest improvement in our end markets next year,” said John Engel, chairman, president and CEO of WESCO, in a statement to investors. “Our 2017 outlook includes improved execution of our growth initiatives and investing for the future, while maintaining our cost and cash management discipline. We believe we are well-positioned to benefit from the potential tax, regulatory and budget changes associated with the new administration in the United States, but do not anticipate a significant impact on our business next year. As a result, we expect sales in the range of flat to up 4%, EPS of $3.60 to $4.00 per diluted share, and free cash flow generation of at least 90% of net income in 2017.”
“Our acquisition pipeline remains robust, and we see excellent ongoing opportunities to strengthen our electrical core and broaden our portfolio of products and services,” Engel added.