Wesco International, Inc. · NYSE:WCC
Wesco International — Q4 2025 Earnings Presentation
38 slides from Wesco International's earnings presentation, Feb 10, 2026
Slide 1: Fourth Quarter 2025 Webcast Presentation
NYSE: WCC Fourth Quarter 2025 Webcast Presentation February 10, 2026
Slide 2: Forward-Looking Statements and Non-GAAP Measures
Forward-Looking Statements and Non-GAAP Measures 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 an
Slide 3: 2025 Highlights and 2026 Outlook
2025 Highlights and 2026 Outlook • Record annual sales of $23.5B in 2025, up 9% organically, with growth led by CSS up ~17% and EES up ~8% • Second consecutive quarter of growth in Utility in Q4, driven by Strong performance continued, Investor-Owned Utilities with organic sales up 9% YOY in • Total
Slide 4: Fourth Quarter YOY Results
Fourth Quarter YOY Results Strong quarter with organic sales up 9%, Adj. EBITDA up 10%, and Adj. EPS up 8% Net Sales¹ Adjusted EBITDA ($Millions) $6,069 $409 $5,500 $371 6.7% 6.7% of sales of sales 2 Q4 2024 Price Volume M&A, Fx, and Q4 2025 Q4 2024 Reported Gross SG&A Q4 2025 Sales Workdays Sales A
Slide 5: Full Year 2025 YOY Results
Full Year 2025 YOY Results Organic sales grew 9% for the year, reflecting strong and improving momentum Net Sales¹ Adjusted EBITDA ($Millions) $23,511 $1,509 $1,537 $21,819 6.9% 6.5% of sales of sales 2 2024 Price Volume M&A, Fx, and 2025 2024 Reported Gross SG&A 2025 Sales Workdays Sales Adjusted E
Slide 6: Earnings Per Share
Earnings Per Share Solid Earnings Performance: Q4 EPS up 8%, 2025 EPS up 6% Q4 EPS FY EPS $12.91 $3.40 $12.23 $3.16 Q4 2024 Core Preferred Interest Tax Other Q4 2025 2024 Core Preferred Interest Tax Other 2025 Adjusted EPS Operations Dividend Adjusted EPS Adjusted EPS Operations Dividend Adjusted EP
Slide 7: Communications & Security Solutions (CSS)
Communications & Security Solutions (CSS) Organic sales up ~17% for the year reflecting strong data center growth of ~50% Fourth Quarter Drivers Q4 Results Organic sales up ~14%, reported sales up ~16% YOY¹ $ Millions Q4 2025 Q4 2024 YOY Sales $2,425 $2,087 16% • Wesco Data Center Solutions (WDCS) u
Slide 8: Data center sales totaled $4.3B, up ~50% in 2025
Data center sales totaled $4.3B, up ~50% in 2025 Data center sales were ~18% of Wesco company 2025 sales 3-5 Years Site 1-2 Year Data Center Substation Time to Power Construction Period Land acquisition with access to power Civil construction Transformers Mechanical, plumbing Transmission lines to a
Slide 9: Data Center Product, Services and Solutions Offering
Data Center Product, Services and Solutions Offering Providing holistic services and solutions for every phase of the data center lifecycle Gray Space Data Center White Space End-to-end electrical, automation and MRO capabilities Extensive next-generation infrastructure and services for always-on co
Slide 10: Electrical & Electronic Solutions (EES)
Electrical & Electronic Solutions (EES) Organic sales up ~8% in 2025 with growth across Construction, Industrial and OEM Fourth Quarter Drivers Q4 Results Organic and reported sales up ~9% YOY1 $ Millions Q4 2025 Q4 2024 YOY • Construction up LDD driven by strong wire and cable demand and continued
Slide 11: Utility & Broadband Solutions (UBS)
Utility & Broadband Solutions (UBS) Second consecutive quarter of positive growth in Q4 Q4 Results Fourth Quarter Drivers $ Millions Q4 2025 Q4 2024 YOY Organic and reported sales up ~3% YOY Sales $1,371 $1,330 3% • Utility grew MSD, driven by strong double-digit growth with IOU customers (including
Slide 12: Powering Critical Infrastructure with End-to-End Grid Services
Powering Critical Infrastructure with End-to-End Grid Services Comprehensive solutions for large-scale and complex projects across the power chain Grid Services: Products and Solutions Distribution Medium Voltage Transmission Substation Overhead and underground Cable connectivity and switching Build
Slide 13: Free Cash Flow
Free Cash Flow Increased inventory and accounts receivable to support accelerating sales growth FY 2025 Net Working Capital (NWC)¹ ($ Millions) % of FY Sales $165 21.4% $(558) $669 $(446) $(100) $54 20.1% $324 19.8% 8% of Adjusted Net Income Adjusted D&A Accounts Inventory Accounts Capex Free Net In
Slide 14: 2026 Strategic Business Unit Sales Growth Drivers
2026 Strategic Business Unit Sales Growth Drivers Expected reported sales of 5% to 8%, with organic sales range of 4% to 7% % of Wesco 2026 SBU Sales 2025 2026 2025 Sales Outlook Breakdown1 Actual Outlook Reported Sales Growth Reported Sales Growth Enterprise Network Construction Infrastructure Comm
Slide 15: Full-Year 2026 Outlook
Full-Year 2026 Outlook 2026 growth targets reflect solid momentum and continued operating execution 2026 Outlook Assumptions 2026 Outlook (millions, except effective tax rate) FY 2026 Organic sales growth 4% - 7% Depreciation and Amortization ~$195-$205 Cloud Computing Amortization Expense Adjustmen
Slide 16: First Quarter 2026 Outlook
First Quarter 2026 Outlook Positive momentum continued in January with preliminary sales per workday up ~15% Q1 Outlook YOY Organic Sales Trends YOY Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 +2% +6% +7% +12% +9% 15% Reported Sales Up HSD 5% Adjusted EBITDA % Up YOY Oct 24 Nov 24 Dec 24 Jan 25 Feb 25 Mar 25 Apr
Slide 17: 2025 Highlights and 2026 Outlook
2025 Highlights and 2026 Outlook • Record annual sales of $23.5B in 2025, up 9% organically, with growth led by CSS up ~17% and EES up ~8% • Second consecutive quarter of growth in Utility in Q4, driven by Strong performance continued, Investor-Owned Utilities with organic sales up 9% YOY in • Total
Slide 18: Appendix
Appendix © 2026 Wesco International 18
Slide 19: Workdays
Workdays Q1 Q2 Q3 Q4 FY 2023 63 64 63 62 252 2024 63 64 64 63 254 2025 62 64 64 63 253 2026 62 64 64 63 253 © 2026 Wesco International 19
Slide 20: Organic Sales Growth
Organic Sales Growth ($ Millions) Three Months Ended Growth/(Decline) December 31, 2025 December 31, 2024 Reported Sales Acquisition Foreign Exchange Workday Organic Sales EES(1) $2,272.9 $2,082.5 9.1 % — % 0.3 % —% 8.8 % CSS(1) 2,424.7 2,087.1 16.2 % 1.7 % 1.0 % —% 13.5 % UBS 1,371.0 1,330.1 3.1 %
Slide 21: Gross Profit
Gross Profit ($ Millions) Three Months Ended Twelve Months Ended December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Net sales $6,068.6 $5,499.7 $23,510.9 $21,818.8 Cost of goods sold (excluding depreciation 4,782.3 4,335.7 18,538.9 17,106.2 and amortization) Gross profit $1,286.
Slide 22: Business Unit Gross Profit and Gross Margin
Business Unit Gross Profit and Gross Margin ($ Millions) Electrical & Electronic Solutions (EES)(1) Three Months Ended Gross Profit: December 31, 2025 December 31, 2024 Net sales $2,272.9 $2,082.5 Cost of goods sold (excluding depreciation and amortization) 1,734.7 1,598.5 Gross profit $538.2 $484.0
Slide 23: Business Unit Gross Profit and Gross Margin - Full Year
Business Unit Gross Profit and Gross Margin - Full Year ($ Millions) Electrical & Electronic Solutions (EES)(1) Twelve Months Ended Gross Profit: December 31, 2025 December 31, 2024 Net sales $8,955.5 $8,391.7 Cost of goods sold (excluding depreciation and amortization) 6,877.0 6,401.0 Gross profit
Slide 24: Free Cash Flow
Free Cash Flow ($ Millions) Twelve Months Ended December 31, 2025 Cash flow provided by operations $125.0 Less: Capital expenditures (99.8) Add: Other adjustments 28.6 Free cash flow $53.8 Adjusted net income $668.5 Percentage of adjusted net income 8.0 % Free cash flow is a non-GAAP financial measu
Slide 25: Net Working Capital - December 31, 2025
Net Working Capital - December 31, 2025 Four-Quarter ($ Millions) As of Average as of March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 December 31, 2025 Trade accounts receivable, net $3,641.3 $3,942.8 $4,204.2 $4,069.6 Inventories 3,740.2 3,971.2 4,059.1 4,008.8 Accounts payable 3,
Slide 26: Net Working Capital - December 31, 2024
Net Working Capital - December 31, 2024 Four-Quarter ($ Millions) As of Average as of March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 December 31, 2024 Trade accounts receivable, net $3,526.7 $3,654.6 $3,629.1 $3,454.4 Inventories 3,525.4 3,505.8 3,630.1 3,501.7 Accounts payable 2,
Slide 27: Net Working Capital - December 31, 2023
Net Working Capital - December 31, 2023 Four-Quarter ($ Millions) As of Average as of March 31, 2023 June 30, 2023 September 30, 2023 December 31, 2023 December 31, 2023 Trade accounts receivable, net $3,807.4 $3,850.7 $3,795.0 $3,639.5 Inventories 3,729.5 3,584.3 3,541.4 3,572.1 Accounts payable 2,
Slide 28: Adjusted EBITDA – Q4 2025
Adjusted EBITDA – Q4 2025 EBITDA and Adjusted EBITDA by Segment (1) The reportable segments do not incur income taxes and ($ Millions) Three Months Ended December 31, 2025 interest expense as these costs are centrally controlled EES CSS UBS Corporate Total through the Corporate tax and treasury func
Slide 29: Adjusted EBITDA – Q4 2024
Adjusted EBITDA – Q4 2024 EBITDA and Adjusted EBITDA by Segment Three Months Ended December 31, 2024 (1) In the first quarter of 2025, a portion of the EES reportable ($ Millions) segment was moved to the CSS reportable segment as a result EES(1) CSS(1) UBS Corporate Total of operational realignment
Slide 30: Adjusted EBITDA – 2025
Adjusted EBITDA – 2025 EBITDA and Adjusted EBITDA by Segment (1) The reportable segments do not incur income taxes and ($ Millions) Year Ended December 31, 2025 interest expense as these costs are centrally controlled EES CSS UBS Corporate Total through the Corporate tax and treasury functions. Net
Slide 31: Adjusted EBITDA – 2024
Adjusted EBITDA – 2024 (1) In the first quarter of 2025, a portion of the EES reportable segment was moved to the CSS reportable segment as a result of operational realignment. As a result, the reportable segment financial information for the year ended December 31, 2024 has been recast to conform t
Slide 32: Adjusted SG&A, Income from Operations, Other (Income) Expense, and Provision for Income Taxes
Adjusted SG&A, Income from Operations, Other (Income) Expense, and Provision for Income Taxes ($ Millions) Three Months Ended Twelve Months Ended (1) Digital transformation costs include costs associated with December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 certain digital tra
Slide 33: Adjusted Net Income Attributable to Common Stockholders
Adjusted Net Income Attributable to Common Stockholders ($ Millions) Three Months Ended Twelve Months Ended (1) Digital transformation costs include costs associated with certain digital transformation initiatives. December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Adjusted Net
Slide 34: Adjusted Earnings Per Diluted Share
Adjusted Earnings Per Diluted Share ($ Millions, except for per share data) Three Months Ended Twelve Months Ended December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Adjusted income from operations $335.6 $311.2 $1,268.2 $1,282.9 Interest expense, net 108.6 85.1 386.7 364.9 Adju
Slide 35: Financial Leverage
Financial Leverage ($ Millions, except ratios) Twelve Months Ended (1) Digital transformation costs include costs associated with December 31, 2025 December 31, 2024 certain digital transformation initiatives. Net income attributable to common stockholders $645.8 $660.2 (2) Cloud computing arrangeme
Slide 36: Inter-Segment Business Transfer – 1Q24 and 2Q24
Inter-Segment Business Transfer – 1Q24 and 2Q24 Recast results for EES and CSS ($ Millions) Three Months Ended March 31, 2024 ($ Millions) Three Months Ended June 30, 2024 Reportable Reportable EES CSS UBS Segments EES CSS UBS Segments Total Total Net sales $2,064.3 $1,704.8 $1,580.9 $5,350.0 Net sa
Slide 37: Inter-Segment Business Transfer – 3Q24 and 4Q24
Inter-Segment Business Transfer – 3Q24 and 4Q24 Recast results for EES and CSS ($ Millions) Three Months Ended September 30, 2024 ($ Millions) Three Months Ended December 31, 2024 Reportable Reportable EES CSS UBS Segments EES CSS UBS Segments Total Total Net sales $2,110.4 $1,995.9 $1,383.1 $5,489.
Slide 38: Inter-Segment Business Transfer – FY23 and FY24
Inter-Segment Business Transfer – FY23 and FY24 Recast results for EES and CSS ($ Millions) Year Ended December 31, 2023 ($ Millions) Year Ended December 31, 2024 Reportable Reportable EES CSS UBS Segments EES CSS UBS Segments Total Total Net sales $8,449.8 $7,312.7 $6,622.7 $22,385.2 Net sales $8,3