Update On Wesco International ($WCC)
The investment thesis remains intact despite +18% since June’s article
The article for Wesco International, published in June 2024, highlighted several strengths: a resilient business model with strong cash flow, competitive advantages post-Anixter merger, diverse revenue streams, and a discount valuation relative to peers. Additionally, the thesis saw cross-selling opportunities, the growth potential in digital and security solutions, and anticipated margin expansion through value-based pricing and cost efficiencies.
Despite the rapid stock appreciation since the article publication (+18%), Wesco’s Q3 earnings report, published last Thursday, Oct 31, while presenting a challenging environment, reinforces many aspects that invite to think the investment thesis remain intact:
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