WESCO (WCC) Issues '18 Outlook, Announces Share Repurchase
Zacks Investment Research | Dec 13, 2017 10:31PM ET
WESCO International, Inc. (NYSE:WCC) gave an impressive view for 2018. This indicates that the company is benefiting from strength across all end markets and geographic regions.
Moreover, its board of directors authorized a share buyback program, which replaces the similar program ending this year. WESCO will repurchase up to $300 million worth of shares over the next three years.
It reiterated its 2017 guidance. The company continues to expect 2017 sales growth of 3% to 4%, earnings per share in the range of $3.75 to $3.95, and free cash flow generation of at least 90% of net income.
Notably, shares of WESCO have lost 4.2% year to date, slightly better than the Zacks Investment Research
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