Latest news with #WCC
Chicago Tribune
9 hours ago
- General
- Chicago Tribune
Column: New partnership to provide after-school child care for Waubonsee Community College student-parents
I remember decades ago writing a column about the most pressing issue I faced as a parent: child care. It was a huge concern, always at the top of my list of stressors and not just in regard to affordability but also to quality. I mention this because when the new program between Waubonsee Community College and the Boys & Girls Clubs of North Central Illinois was described to me as 'a game-changer,' I knew from personal experience this is not a case of marketing hyperbole. In a new partnership, Waubonsee and the Boys & Girls Clubs of North Central Illinois are launching a free, on-campus after-school care program for students at the college's downtown Aurora campus. Unlike other colleges that offer financial assistance or care for toddlers, noted WCC President Brian Knetl, this provides no-cost quality care for elementary-aged children of enrolled students from 3:45 to 9:30 p.m. inside the college building. Convenient? For sure. But if you are, say, a single parent trying to build a better future, this program can be a lifeline. Imagine the emotional relief knowing your kid is spending quality time right down the hall as you pursue a degree or certification. Imagine the financial burden that is lifted, at a time when it's becoming increasingly difficult for so many to pay rent, keep the lights on and put food on the table. Game changer? You bet. And, as an added bonus, it is putting these youngsters in a college environment early in life that can't help but make their own pursuit of higher education at some point in their lives that much more familiar – and expected. 'I totally get it,' says Cathy Russell, CEO of Boys & Girls Clubs of North Central Illinois who remembers her own days as a single mom. 'It's a win-win for everyone.' The seed of this partnership was planted in the summer of 2022, a few months after Boys & Girls Clubs of North Central Illinois, which began in Elgin in 1993, opened its sixth club in Aurora. The board, which included WCC employee Adam Schauer, met at the college, and those early gatherings, said Russell, 'helped us to build relationships, have deep conversations' that included how after-school care can be a barrier for students. 'It just makes so much sense for parents to be able to bring their kids to a place where they too will learn,' she insisted. While Boys & Girls Clubs are known for using non-traditional sites like schools, churches and Section 8 housing, 'adult learning education is a whole new movement,' Russell told me, adding that 'I don't know any other organization doing something quite like this.' Currently the club in Aurora is meeting in more than a dozen schools in District 131 and around a half dozen in District 129. The hope is to build a new 45,000-square-foot clubhouse in the city – with help from a $500,000 federal grant secured by U.S. Rep. Bill Foster, D-Naperville, according to news reports. The WCC/BGC program, which will kick off this upcoming semester, will provide snacks for the kids, academic support and STEAM enrichment activities, and will also focus on the social and emotional well-being of the kids, said Russell. The college and this nationally-recognized youth club both have long and trusted reputations. But they also share a 'common mission' of expanding their footprints to best serve the needs of the community, said Knetl, who has been working in community colleges for over 20 years and became Waubonsee Community College president in January of 2023. The program, he added, is the 'definition of coming together.' Knetl points to a young couple, who are high-performing students at WCC but sometimes have to juggle their class to take care of their children. 'Our students are finding a way to make it work,' he said. 'What concerns us most is that we may never know about the people who want to go on to college but can't afford a trustworthy place to send their children.' And so, Waubonsee Community College and the Boys & Girls Club are anxious to get the word out about what really could be a game-changer. 'We want to break down those barriers,' said Knetl. 'We are eager to see where this will go.'
Yahoo
20 hours ago
- Business
- Yahoo
Wesco International Reports Second Quarter 2025 Results
Second quarter reported net sales up 7.7% YOY Organic sales up 7.2% YOY and up 6.2% sequentially Data center sales eclipsed $1 billion, up ~65% YOY Second quarter EBITDA margin of 6.7%, up 90 basis points sequentially Second quarter diluted EPS of $3.83; adjusted diluted EPS of $3.39, up 6% YOY Backlog up YOY and sequentially across all three business units Preferred stock redeemed in June, creating substantial net income, EPS and cash flow benefits Full year 2025 organic sales growth outlook raised; reflects positive sales momentum from the first seven months of the year PITTSBURGH, July 31, 2025 /PRNewswire/ -- Wesco International (NYSE: WCC), a leading provider of business-to-business distribution, logistics services and supply chain solutions, announces its results for the second quarter of 2025. "We continued to build on our positive sales momentum in the first half of 2025 and outperformed the market with our leading portfolio of products, services, and solutions. Sales growth is accelerating, with organic sales up 6% in the first quarter, 7% in the second quarter, and preliminary July sales per workday up approximately 10% year-over-year. The second quarter performance was led by 17% organic growth in CSS and 6% organic growth in EES. Total data center sales eclipsed $1B in the quarter, setting a new mark, and were up 65% versus the prior year. And, on an encouraging note, our Utility business has begun to show signs of improvement as sales to investor-owned utilities returned to growth in the second quarter. Our Wesco opportunity pipeline continues to grow, bid activity levels remain very strong, and backlog is at record levels, increasing both year-over-year and sequentially across all three business segments. Adjusted EBITDA margin was up 90 basis points sequentially as we generated strong operating leverage on higher topline sales and stable gross margin. All in all, we're off to a good start in the first half of 2025 and we are building on that momentum for the remainder of the year," said John Engel, Chairman, President, and CEO. Mr. Engel added, "As planned, we completed the redemption of our preferred stock in June improving both our cash flow and earnings per share run rates. Following this redemption, we have no significant debt maturities until 2028 and have strong liquidity to execute our capital allocation priorities. As we outlined in our last Investor Day, over 75% of our free cash flow generation is targeted to debt reduction, stock buybacks and acquisitions." Mr. Engel concluded, "We are raising our full-year organic sales growth outlook based on our positive momentum through the first seven months of 2025 while maintaining our EPS mid-point. We remain firmly focused on executing our cross-selling initiatives and enterprise-wide margin improvement program while delivering operational improvements enabled by our technology-driven business transformation. As the market leader, the enduring secular trends of AI-driven data centers, increased power generation, electrification, automation, and reshoring underpin my confidence that Wesco will continue to outperform our markets this year." Key Financial HighlightsThree Months Ended June 30 Six Months Ended June 30 ($ in millions except per share data) 2025 Reported 2024 Reported Change vs prior year quarter 2025 Reported 2024 Reported Change vs prior year GAAP Results Net sales $5,899.6 $5,479.7 7.7 % $11,243.3 $10,829.7 3.8 % Selling general, and administrative expenses $872.2 $828.4 5.3 % $1,708.5 $1,657.8 3.1 % Net income attributable to common stockholders $189.2 $217.7 (13.1) % $293.2 $319.2 (8.1) % Earnings per diluted share $3.83 $4.28 (10.5) % $5.92 $6.22 (4.8) % Operating cash flow $107.8 $(223.8) 148.2 % $135.8 $522.5 (74.0) % Effective tax rate 26.1 % 27.4 % (130) basis points 25.0 % 25.4 % (40) basis points($ in millions except per share data) 2025 Adjusted 2024 Adjusted Change vs prior year quarter 2025 Adjusted 2024 Adjusted Change vs prior year Non-GAAP Results Organic sales growth (decline) 7.2 % (0.8) % N/A 6.4 % (2.0) % N/A Gross profit $1,242.7 $1,198.0 3.7 % $2,368.3 $2,335.9 1.4 % Gross margin 21.1 % 21.9 % (80) basis points 21.1 % 21.6 % (50) basis points Adjusted selling, general, and administrative expenses $864.1 $803.6 7.5 % $1,693.1 $1,614.1 4.9 % Adjusted EBITDA $394.2 $400.1 (1.5) % $704.9 $740.5 (4.8) % Adjusted EBITDA margin 6.7 % 7.3 % (60) basis points 6.3 % 6.8 % (50) basis points Adjusted net income attributable to common stockholders $167.5 $163.5 2.4 % $277.2 $282.9 (2.0) % Adjusted earnings per diluted share $3.39 $3.21 5.6 % $5.60 $5.51 1.6 % Free cash flow $86.5 $(234.1) 137.0 % $95.9 $497.3 (80.7) % Net Sales On an organic basis, which removes the impact of the Ascent, LLC ("Ascent") acquisition, sales for the second quarter of 2025 grew by 7.2%. The increase in organic sales reflects volume and price growth in the CSS and EES segments, partially offset by a volume decline in the UBS segment. Sequentially, net sales increased 10.4% and organic sales grew by 6.2%. Backlog at the end of the second quarter of 2025 increased by 11% compared to the end of the second quarter of 2024. Sequentially, backlog increased by approximately 5%. On an organic basis, which removes the impact of the Wesco Integrated Supply ("WIS") divestiture and Ascent acquisition, differences in foreign exchange rates, and the impact from the number of workdays, sales for the first six months of 2025 grew by 6.4%. The increase in organic sales reflects volume and price growth in the CSS and EES segments, partially offset by a volume decline in the UBS segment. Gross Profit and Gross Margin The decrease in gross margin for the three and six months ended June 30, 2025 reflects a decrease in all three segments. Lower gross margin was driven by increased project activity and product mix in the EES segment and growth with hyperscale data center customers in the CSS segment, which is inclusive of higher inventory adjustments, partially offset by higher supplier volume rebates. Sequentially, gross margin remained flat. Selling, General, and Administrative ("SG&A") Expenses The increase in SG&A expenses for the second quarter of 2025 is driven by higher salaries and benefits, increased costs to operate our facilities, an increase in transportation costs, and higher IT costs, partially offset by a decrease in other income and deductions. SG&A expenses for the second quarter of 2025 include $8.1 million of digital transformation and restructuring costs. SG&A expenses for the second quarter of 2024 include a $17.8 million loss on abandonment of assets and $7.0 million of digital transformation and restructuring costs. Adjusted for these costs, SG&A expenses were 14.6% and 14.7% of net sales for the second quarter of 2025 and 2024, respectively, reflecting operating cost leverage on sales growth. The increase in SG&A expenses for the first six months of 2025 is driven by higher salaries and benefits, increased costs to operate our facilities, an increase in transportation costs, and higher IT costs, partially offset by a decrease in other income and deductions. SG&A expenses for the first six months of 2025 include $15.4 million of digital transformation and restructuring costs. SG&A expenses for the first six months of 2024 include $21.1 million of digital transformation and restructuring costs, a $17.8 million loss on abandonment of assets, and $4.8 million of excise taxes on excess pension plan assets. Adjusted for these costs, SG&A expenses were 15.1% and 14.9% of net sales for the first six months of 2025 and 2024, respectively. Adjusted EBITDA and Adjusted EBITDA Margin The decrease in Adjusted EBITDA for the second quarter of 2025 primarily reflects lower gross margin due to large project wins, and a $43.8 million increase in SG&A expenses as described above. Sequentially, Adjusted EBITDA margin increased 90 basis points. The decrease in Adjusted EBITDA for the first six months of 2025 primarily reflects lower gross margin due to large project wins, and a $50.7 million increase in SG&A expenses as described above. Effective Tax Rate The lower effective tax rate for the second quarter of 2025 is due to a higher provision for income taxes related to uncertain tax positions in the prior year period. The effective tax rate for the first six months of 2025 remained relatively consistent with the first six months of 2024. Adjusted Earnings Per Diluted Share The increase in adjusted earnings per diluted share in the second quarter of 2025 primarily reflects lower adjusted EBITDA and a $10.5 million decrease in adjusted other income primarily due to fluctuations in the U.S. dollar against certain foreign currencies, in which we recognized a net foreign currency exchange gain of $3.0 million for the second quarter of 2025 compared to a net loss of $3.4 million for the second quarter of 2024. Further, there was a $6.0 million decrease in interest expense primarily due to debt refinancing activities and lower interest rates. There was a positive impact from the reduction in outstanding shares during the second quarter of 2025 as compared to the second quarter of 2024. The increase in adjusted earnings per diluted share in the first six months of 2025 primarily reflects lower adjusted EBITDA, offset by a $14.0 million decrease in interest expense due to debt refinancing activities and lower interest rates. Further, there was a $26.7 million decrease in adjusted other income primarily due to fluctuations in the U.S. dollar against certain foreign currencies, in which we recognized an immaterial net foreign currency exchange gain for the first six months of 2025 compared to a net loss of $20.7 million for the first six months of 2024. There was a positive impact from the reduction in outstanding shares during the first six months of 2025 as compared to the first six months of 2024. Operating Cash Flow The net operating cash inflow in the second quarter of 2025 was primarily driven by net income of $174.8 million and non-cash adjustments to net income totaling $63.6 million, which primarily comprised depreciation and amortization, stock-based compensation expense, and amortization of debt issuance costs and debt discount. The inflow was partially offset by a net outflow of $187.2 million from changes in net working capital consisting of an increase in trade accounts receivable of $242.5 million primarily due to the timing of receipts from customers and an increase in inventories resulting in a use of cash of $175.7 million, partially offset by an increase in accounts payable resulting in a cash inflow of $230.9 million primarily due to the timing of payments to suppliers as well as inventory purchases. Other sources of cash include $39.1 million from an increase in accrued payroll and benefit costs, primarily comprised of an increase in accrued variable compensation, accrued salaries and wages, and accrued sales incentives. The net operating cash inflow for the first six months of 2025 was primarily driven by net income of $293.1 million and non-cash adjustments to net income totaling $130.0 million, which primarily comprised depreciation and amortization, stock-based compensation expense, and amortization of debt issuance costs and debt discount. The inflow was partially offset by a net outflow of $259.6 million from changes in working capital consisting of an increase in trade accounts receivable of $431.2 million primarily due to the timing of receipts from customers and an increase in inventories resulting in a use of cash of $403.1 million, partially offset by an increase in accounts payable resulting in a cash inflow of $574.7 million. Uses of cash in the first six months of 2025 also included a decrease in accrued payroll and benefit costs of $38.0 million primarily due to the payment of management incentive compensation earned in 2024 and a decrease in accrued sales incentives. Webcast and Teleconference Access Wesco will conduct a webcast and teleconference to discuss the second quarter of 2025 earnings as described in this News Release on Thursday, July 31, 2025, at 10:00 a.m. E.T. The call will be broadcast live over the internet and can be accessed from the Investor Relations page of the Company's website at The call will be archived on this internet site for seven days. Wesco International (NYSE: WCC) builds, connects, powers and protects the world. Headquartered in Pittsburgh, Pennsylvania, Wesco is a FORTUNE 500® company with approximately $22 billion in annual sales in 2024 and a leading provider of business-to-business distribution, logistics services and supply chain solutions. Wesco offers a best-in-class product and services portfolio of Electrical and Electronic Solutions, Communications and Security Solutions, and Utility and Broadband Solutions. The Company employs approximately 20,000 people, partners with the industry's premier suppliers, and serves thousands of customers around the world. With millions of products, end-to-end supply chain services, and leading digital capabilities, Wesco provides innovative solutions to meet customer needs across commercial and industrial businesses, contractors, educational institutions, government agencies, technology companies, telecommunications providers, and utilities. Wesco operates more than 700 sites, including distribution centers, fulfillment centers, and sales offices in approximately 50 countries, providing a local presence for customers and a global network to serve multi-location businesses and global corporations. Forward-Looking Statements 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 and other factors that may cause actual results to differ materially. These statements include, but are not limited to, statements regarding business strategy, growth strategy, competitive strengths, productivity and profitability enhancement, competition, new product and service introductions, and liquidity and capital resources. Such statements can generally be identified by the use of words such as "anticipate," "plan," "believe," "estimate," "intend," "expect," "project," and similar words, phrases or expressions or future or conditional verbs such as "could," "may," "should," "will," and "would," although not all forward-looking statements contain such words. These forward-looking statements are based on current expectations and beliefs of Wesco's management, as well as assumptions made by, and information currently available to, Wesco's management, current market trends and market conditions and involve risks and uncertainties, many of which are outside of Wesco's and Wesco's management's control, and which may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, you should not place undue reliance on such statements. Important factors that could cause actual results or events to differ materially from those presented or implied in the forward-looking statements include, among others, the failure to achieve the anticipated benefits of, and other risks associated with, acquisitions, joint ventures, divestitures and other corporate transactions; the inability to successfully integrate acquired businesses; the impact of increased interest rates or borrowing costs; fluctuations in currency exchange rates; evolving impacts from tariffs or other trade tensions between the U.S. and other countries (including implementation of new tariffs and retaliatory measures); failure to adequately protect Wesco's intellectual property or successfully defend against infringement claims; the inability to successfully deploy new technologies, digital products and information systems or to otherwise adapt to emerging technologies in the marketplace, such as those incorporating artificial intelligence; failure to execute on our efforts and programs related to environmental, social and governance (ESG) matters; unanticipated expenditures or other adverse developments related to compliance with new or stricter government policies, laws or regulations, including those relating to data privacy, sustainability and environmental protection; the inability to successfully develop, manage or implement new technology initiatives or business strategies, including with respect to the expansion of e-commerce capabilities and other digital solutions and digitalization initiatives; disruption of information technology systems or operations; natural disasters (including as a result of climate change), health epidemics, pandemics and other outbreaks; supply chain disruptions; geopolitical issues, including the impact of the evolving conflicts in the Middle East and Russia/Ukraine; the impact of sanctions imposed on, or other actions taken by the U.S. or other countries against, Russia or China; the failure to manage the increased risks and impacts of cyber incidents or data breaches; and exacerbation of key materials shortages, inflationary cost pressures, material cost increases, demand volatility, and logistics and capacity constraints, any of which may have a material adverse effect on the Company's business, results of operations and financial condition. All such factors are difficult to predict and are beyond the Company's control. Additional factors that could cause results to differ materially from those described above can be found in Wesco's most recent Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission. Contact Information Investor Relations Corporate Communications Scott Gaffner Senior Vice President, Investor Relations investorrelations@ Jennifer Sniderman Vice President, Corporate Communications 717-579-6603 WESCO INTERNATIONAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (in millions, except per share amounts) (Unaudited) Three Months Ended June 30, 2025 June 30, 2024Net sales $ 5,899.6 $ 5,479.7Cost of goods sold (excluding depreciation and amortization) 4,656.9 78.9 %4,281.7 78.1 % Selling, general and administrative expenses 872.2 14.8 %828.4 15.1 % Depreciation and amortization 48.3 46.1Income from operations 322.2 5.5 %323.5 5.9 % Interest expense, net 92.9 98.8Other income, net (7.3) (95.9)Income before income taxes 236.6 4.0 %320.6 5.9 % Provision for income taxes 61.8 87.8Net income 174.8 3.0 %232.8 4.2 % Less: Net income attributable to noncontrolling interests 0.3 0.7Net income attributable to WESCO International, Inc. 174.5 3.0 %232.1 4.2 % Plus: Gain on redemption of Series A Preferred Stock 27.6 —Less: Preferred stock dividends 12.9 14.4Net income attributable to common stockholders $ 189.2 3.2 %$ 217.7 4.0 % Earnings per diluted share attributable to common stockholders $ 3.83 $ 4.28Weighted-average common shares outstanding and common share equivalents used in computing earnings per diluted common share 49.4 50.9 WESCO INTERNATIONAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (in millions, except per share amounts) (Unaudited) Six Months Ended June 30, 2025 June 30, 2024Net sales $ 11,243.3 $ 10,829.7Cost of goods sold (excluding depreciation and amortization) 8,875.0 78.9 %8,493.8 78.4 % Selling, general and administrative expenses 1,708.5 15.2 %1,657.8 15.3 % Depreciation and amortization 96.7 91.6Income from operations 563.1 5.0 %586.5 5.4 % Interest expense, net 179.2 193.2Other income, net (7.1) (74.3)Income before income taxes 391.0 3.5 %467.6 4.3 % Provision for income taxes 97.9 118.7Net income 293.1 2.6 %348.9 3.2 % Less: Net income attributable to noncontrolling interests 0.2 1.0Net income attributable to WESCO International, Inc. 292.9 2.6 %347.9 3.2 % Plus: Gain on redemption of Series A Preferred Stock 27.6 —Less: Preferred stock dividends 27.3 28.7Net income attributable to common stockholders $ 293.2 2.6 %$ 319.2 2.9 % Earnings per diluted share attributable to common stockholders $ 5.92 $ 6.22Weighted-average common shares outstanding and common share equivalents used in computing earnings per diluted common share 49.5 51.3 WESCO INTERNATIONAL, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (dollar amounts in millions) (Unaudited) As ofJune 30,2025December 31,2024 AssetsCurrent AssetsCash and cash equivalents $ 667.0$ 702.6 Trade accounts receivable, net 3,942.83,454.4 Inventories 3,971.23,501.7 Other current assets 662.6692.7 Total current assets 9,243.68,351.4 Goodwill and intangible assets 5,166.85,116.0 Other assets 1,792.11,594.0 Total assets $ 16,202.5$ 15,061.4 Liabilities and Stockholders' EquityCurrent LiabilitiesAccounts payable $ 3,291.4$ 2,670.6 Short-term debt and current portion of long-term debt, net 27.319.5 Other current liabilities 1,112.51,113.9 Total current liabilities 4,431.23,804.0 Long-term debt, net 5,641.25,045.5 Other noncurrent liabilities 1,375.11,246.4 Total liabilities 11,447.510,095.9 Stockholders' Equity Total stockholders' equity 4,755.04,965.5 Total liabilities and stockholders' equity $ 16,202.5$ 15,061.4 WESCO INTERNATIONAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (dollar amounts in millions) (Unaudited) Six Months EndedJune 30,2025June 30,2024 Operating Activities:Net income $ 293.1$ 348.9 Add back (deduct):Depreciation and amortization 96.791.6 Gain on divestiture —(102.9) Loss on abandonment of assets —17.8 Change in trade receivables, net (431.2)(258.8) Change in inventories (403.1)18.9 Change in accounts payable 574.7341.9 Other, net 5.665.1 Net cash provided by operating activities 135.8522.5 Investing Activities:Capital expenditures (42.2)(41.2) Acquisition payments, net of cash acquired (36.0)(30.1) Proceeds from divestiture, net of cash transferred —334.2 Other, net 1.36.2 Net cash (used in) provided by investing activities (76.9)269.1 Financing Activities:Debt borrowings (repayments), net(1) 605.0(118.3) Payments for taxes related to net-share settlement of equity awards (18.4)(26.0) Repurchases of common stock (50.0)(350.0) Redemption of preferred stock (540.3)— Payment of common stock dividends (44.2)(41.2) Payment of preferred stock dividends (27.3)(28.7) Other, net (33.1)(17.2) Net cash used in financing activities (108.3)(581.4) Effect of exchange rate changes on cash and cash equivalents 13.8(17.8) Net change in cash and cash equivalents (35.6)192.4 Cash and cash equivalents at the beginning of the period 702.6524.1 Cash and cash equivalents at the end of the period $ 667.0$ 716.5 (1) The six months ended June 30, 2025 includes the issuance of the Company's $800 million aggregate principal amount of 6.375% Senior Notes due 2033 (the "2033 Notes"). The Company used the net proceeds from the issuance of the 2033 Notes to redeem all of the Company's outstanding 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock (the "Series A Preferred Stock") and all of the related depositary shares representing fractional interests in the Series A Preferred Stock, and to repay a portion of the amounts outstanding under the Revolving Credit Facility. The six months ended June 30, 2024 includes the issuance of the Company's $900 million aggregate principal amount of 6.375% senior notes due 2029 (the "2029 Notes") and $850 million aggregate principal amount of 6.625% senior notes due 2032 (the "2032 Notes" and, together with the 2029 Notes, the "2029 and 2032 Notes"). The proceeds from the issuance of the 2029 and 2032 Notes were used for the redemption of the Company's $1,500 million aggregate principal amount of 7.125% Senior Notes due 2025 (the "2025 Notes") and for other corporate purposes. NON-GAAP FINANCIAL MEASURES In addition to the results provided in accordance with U.S. Generally Accepted Accounting Principles ("U.S. GAAP") above, this earnings release includes certain non-GAAP financial measures. These financial measures include organic sales growth, gross profit, gross margin, earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted EBITDA, adjusted EBITDA margin, financial leverage, free cash flow, adjusted selling, general and administrative expenses, adjusted income from operations, adjusted operating margin, adjusted other non-operating (income) expense, adjusted provision for income taxes, adjusted income before income taxes, adjusted net income, adjusted net income attributable to WESCO International, Inc., adjusted net income attributable to common stockholders, and adjusted earnings per diluted share. The Company believes that these non-GAAP measures are useful to investors as they provide a better understanding of our financial condition and results of operations on a comparable basis. Additionally, certain non-GAAP measures either focus on or exclude items impacting comparability of results such as digital transformation costs, restructuring costs, cloud computing arrangement amortization, pension settlement cost and excise taxes on excess pension plan assets related to the final settlement of the Anixter Inc. Pension Plan, loss on abandonment of assets, the gain recognized on the divestiture of the WIS business, the loss on termination of business arrangement, and the related income tax effects, as well as the gain on the redemption of the Series A Preferred Stock, allowing investors to more easily compare the Company's financial performance from period to period. Management does not use these non-GAAP financial measures for any purpose other than the reasons stated above. WESCO INTERNATIONAL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (in millions, except per share amounts) (Unaudited) Organic Sales Growth by Segment - Three Months Ended:Three Months EndedGrowth/(Decline)June 30, 2025June 30, 2024ReportedSalesAcquisitionForeign ExchangeWorkdayOrganic Sales EES(1) $ 2,257.8$ 2,134.55.8 %— %(0.2) %— %6.0 % CSS(1) 2,265.21,904.319.0 %1.5 %0.2 %— %17.3 % UBS 1,376.61,440.9(4.5) %— %(0.1) %— %(4.4) % Total net sales $ 5,899.6$ 5,479.77.7 %0.5 %— %— %7.2 % (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 three months ended June 30, 2024 has been recast to conform to the current year presentation. The recast does not impact previously reported condensed consolidated results. Organic Sales Growth by Segment - Six Months Ended:Six Months EndedGrowth/(Decline)June 30, 2025June 30, 2024ReportedSalesAcquisition/DivestitureForeignExchangeWorkdayOrganic Sales EES(1) $ 4,323.1$ 4,198.83.0 %— %(0.9) %(0.8) %4.7 % CSS(1) 4,265.53,609.118.2 %1.9 %(0.6) %(0.8) %17.7 % UBS 2,654.73,021.8(12.1) %(6.3) %(0.3) %(0.8) %(4.7) % Total net sales $ 11,243.3$ 10,829.73.8 %(1.2) %(0.6) %(0.8) %6.4 % (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 six months ended June 30, 2024 has been recast to conform to the current year presentation. The recast does not impact previously reported condensed consolidated results. Organic Sales Growth by Segment - Sequential:Three Months EndedGrowth/(Decline)June 30, 2025March 31, 2025ReportedSales AcquisitionForeign ExchangeWorkdayOrganic Sales EES $ 2,257.8$ 2,065.39.3 %— %1.2 %3.2 %4.9 % CSS 2,265.22,000.313.2 %— %1.1 %3.2 %8.9 % UBS 1,376.61,278.17.7 %— %0.4 %3.2 %4.1 % Total net sales $ 5,899.6$ 5,343.710.4 %— %1.0 %3.2 %6.2 %Note: Organic sales growth is a non-GAAP financial measure of sales performance. Organic sales growth is calculated by deducting the percentage impact from acquisitions and divestitures for one year following the respective transaction, fluctuations in foreign exchange rates and number of workdays from the reported percentage change in consolidated net sales. Workday impact represents the change in the number of operating days period-over-period after adjusting for weekends and public holidays in the United States. There was no change in the number of workdays in the second quarter of 2025 compared to the second quarter of 2024. The first six months of 2025 had one less workday compared to the first six months of 2024. The second quarter of 2025 had two more workdays compared to the first quarter of 2025. WESCO INTERNATIONAL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (in millions, except per share amounts) (Unaudited) Three Months EndedSix Months Ended Gross Profit:June 30, 2025June 30, 2024June 30, 2025June 30, 2024Net sales$ 5,899.6$ 5,479.7$ 11,243.3$ 10,829.7 Cost of goods sold (excluding depreciation and amortization)4,656.94,281.78,875.08,493.8 Gross profit$ 1,242.7$ 1,198.0$ 2,368.3$ 2,335.9 Gross margin21.1 %21.9 %21.1 %21.6 %Three Months Ended Gross Profit:March 31, 2025Net sales$ 5,343.7 Cost of goods sold (excluding depreciation and amortization)4,218.1 Gross profit$ 1,125.6 Gross margin21.1 %Note: Gross profit is a financial measure commonly used in the distribution industry. Gross profit is calculated by deducting cost of goods sold, excluding depreciation and amortization, from net sales. Gross margin is calculated by dividing gross profit by net sales. WESCO INTERNATIONAL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (in millions, except per share amounts) (Unaudited) Three Months EndedSix Months EndedJune 30, 2025June 30, 2024June 30, 2025June 30, 2024 Adjusted SG&A Expenses:Selling, general and administrative expenses $ 872.2$ 828.4$ 1,708.5$ 1,657.8 Digital transformation costs(1) (7.6)(6.1)(13.8)(12.1) Restructuring costs(2) (0.5)(0.9)(1.6)(9.0) Loss on abandonment of assets(3) —(17.8)—(17.8) Excise taxes on excess pension plan assets(4) ———(4.8) Adjusted selling, general and administrative expenses $ 864.1$ 803.6$ 1,693.1$ 1,614.1 Percentage of net sales 14.6 %14.7 %15.1 %14.9 % Adjusted Income from Operations:Income from operations $ 322.2$ 323.5$ 563.1$ 586.5 Digital transformation costs(1) 7.66.113.812.1 Restructuring costs(1) 0.50.91.69.0 Loss on abandonment of assets(3) —17.8—17.8 Excise taxes on excess pension plan assets(4) ———4.8 Adjusted income from operations $ 330.3$ 348.3$ 578.5$ 630.2 Adjusted income from operations margin % 5.6 %6.4 %5.1 %5.8 % Adjusted Other (Income) Expense, net:Other income, net $ (7.3)$ (95.9)$ (7.1)$ (74.3) Gain on divestiture —102.9—102.9 Loss on termination of business arrangement(5) —(3.8)(0.3)(3.8) Pension settlement cost(6) ———(5.5) Adjusted other (income) expense, net $ (7.3)$ 3.2$ (7.4)$ 19.3 Adjusted Provision for Income Taxes:Provision for income taxes $ 61.8$ 87.8$ 97.9$ 118.7 Income tax effect of adjustments to income from operations and other (income) expense, net(7) 2.2(20.1)4.1(13.6) Adjusted provision for income taxes $ 64.0$ 67.7$ 102.0$ 105.1 (1) Digital transformation costs include costs associated with certain digital transformation initiatives. (2) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan. (3) Loss on abandonment of assets represents the write-off of certain capitalized cloud computing arrangement implementation costs relating to a third-party developed operations management software product in favor of an application with functionality that better suits the Company's operations. (4) Excise taxes on excess pension plan assets represent the excise taxes applicable to the excess pension plan assets following the final settlement of the Company's U.S. pension plan. (5) Loss on termination of business arrangement represents the loss recognized as a result of management's decision to terminate a business arrangement with a third party. (6) Pension settlement cost represents expense related to the final settlement of the Company's U.S. pension plan. (7) The adjustments to income from operations and other (income) expense, net have been tax effected at rates of 26.3% for the three and six months ended June 30, 2025 and 27.1% for the three and six months ended June 30, 2024. WESCO INTERNATIONAL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (in millions, except per share amounts) (Unaudited) Three Months EndedSix Months EndedJune 30, 2025June 30, 2024June 30, 2025June 30, 2024 Adjusted Net Income Attributable to Common Stockholders:Net income attributable to common stockholders $ 189.2$ 217.7$ 293.2$ 319.2 Digital transformation costs(1) 7.66.113.812.1 Restructuring costs(2) 0.50.91.69.0 Loss on abandonment of assets(3) —17.8—17.8 Excise taxes on excess pension plan assets(4) ———4.8 Gain on divestiture —(102.9)—(102.9) Loss on termination of business arrangement(5) —3.80.33.8 Pension settlement cost(6) ———5.5 Income tax effect of adjustments to income from operations and other (income) expense, net(7) (2.2)20.1(4.1)13.6 Gain on redemption of Series A Preferred Stock (27.6)—(27.6)— Adjusted net income attributable to common stockholders $ 167.5$ 163.5$ 277.2$ 282.9 (1) Digital transformation costs include costs associated with certain digital transformation initiatives. (2) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan. (3) Loss on abandonment of assets represents the write-off of certain capitalized cloud computing arrangement implementation costs relating to a third-party developed operations management software product in favor of an application with functionality that better suits the Company's operations. (4) Excise taxes on excess pension plan assets represent the excise taxes applicable to the excess pension plan assets following the final settlement of the Company's U.S. pension plan. (5) Loss on termination of business arrangement represents the loss recognized as a result of management's decision to terminate a business arrangement with a third party. (6) Pension settlement cost represents expense related to the final settlement of the Company's U.S. pension plan. (7) The adjustments to income from operations and other (income) expense, net have been tax effected at rates of 26.3% for the three and six months ended June 30, 2025 and 27.1% for the three and six months ended June 30, 2024. WESCO INTERNATIONAL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (in millions, except per share amounts) (Unaudited) Three Months EndedSix Months Ended Adjusted Earnings per Diluted Share: June 30, 2025June 30, 2024June 30, 2025June 30, 2024 Adjusted income from operations $ 330.3$ 348.3$ 578.5$ 630.2 Interest expense, net 92.998.8179.2193.2 Adjusted other (income) expense, net (7.3)3.2(7.4)19.3 Adjusted income before income taxes 244.7246.3406.7417.7 Adjusted provision for income taxes 64.067.7102.0105.1 Adjusted net income 180.7178.6304.7312.6 Net income attributable to noncontrolling interests 0.30.70.21.0 Adjusted net income attributable to WESCO International, Inc. 180.4177.9304.5311.6 Preferred stock dividends 12.914.427.328.7 Adjusted net income attributable to common stockholders $ 167.5$ 163.5$ 277.2$ 282.9 Diluted shares 49.450.949.551.3 Adjusted earnings per diluted share $ 3.39$ 3.21$ 5.60$ 5.51Note: For the three and six months ended June 30, 2025, SG&A expenses, income from operations, the provision for income taxes, net income attributable to common stockholders and earnings per diluted share have been adjusted to exclude digital transformation costs, restructuring costs, and the related income tax effects, and the gain on redemption of the Company's Series A Preferred Stock. Other non-operating (income) expense, the provision for income taxes, net income attributable to common stockholders and earnings per diluted share for the six months ended June 30, 2025 was also adjusted to exclude the loss on termination of business arrangement and the related income tax effect. For the three and six months ended June 30, 2024, SG&A expenses, income from operations, other non-operating (income) expense, the provision for income taxes, net income attributable to common stockholders and earnings per diluted share have been adjusted to exclude the loss on abandonment of assets, digital transformation costs, restructuring costs, excise taxes on excess pension plan assets related to the final settlement of the Anixter Inc. Pension Plan, the gain recognized on the divestiture of the WIS business, the loss on termination of business arrangement, pension settlement cost, and the related income tax effects. These non-GAAP financial measures provide a better understanding of our financial results on a comparable basis. WESCO INTERNATIONAL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (in millions, except per share amounts) (Unaudited) Three Months Ended June 30, 2025 EBITDA and Adjusted EBITDA by Segment:EESCSSUBSCorporateTotalNet income attributable to common stockholders$ 162.1$ 162.1$ 137.8$ (272.8)$ 189.2 Net income (loss) attributable to noncontrolling interests0.10.6—(0.4)0.3 Gain on redemption of Series A Preferred Stock———(27.6)(27.6) Preferred stock dividends———12.912.9 Provision for income taxes(1)———61.861.8 Interest expense, net(1)———92.992.9 Depreciation and amortization12.419.17.69.248.3 EBITDA$ 174.6$ 181.8$ 145.4$ (124.0)$ 377.8 Other expense (income), net7.315.7(2.2)(28.1)(7.3) Stock-based compensation expense1.01.40.55.58.4 Digital transformation costs(2)———7.67.6 Cloud computing arrangement amortization(3)———7.27.2 Restructuring costs(4)———0.50.5 Adjusted EBITDA$ 182.9$ 198.9$ 143.7$ (131.3)$ 394.2 Adjusted EBITDA margin %8.1 %8.8 %10.4 %6.7 % (1) The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions. (2) Digital transformation costs include costs associated with certain digital transformation initiatives. (3) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. (4) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring Months Ended June 30, 2024 EBITDA and Adjusted EBITDA by Segment:EES(1)CSS(1)UBSCorporateTotalNet income attributable to common stockholders$ 174.4$ 119.2$ 268.5$ (344.4)$ 217.7 Net income (loss) attributable to noncontrolling interests0.10.7—(0.1)0.7 Preferred stock dividends———14.414.4 Provision for income taxes(2)———87.887.8 Interest expense, net(2)———98.898.8 Depreciation and amortization11.318.37.49.146.1 EBITDA$ 185.8$ 138.2$ 275.9$ (134.4)$ 465.5 Other expense (income), net3.315.7(103.2)(11.7)(95.9) Stock-based compensation expense1.11.60.8(0.8)2.7 Loss on abandonment of assets(3)———17.817.8 Digital transformation costs(4)———6.16.1 Cloud computing arrangement amortization(5)———3.03.0 Restructuring costs(6)———0.90.9 Adjusted EBITDA$ 190.2$ 155.5$ 173.5$ (119.1)$ 400.1 Adjusted EBITDA margin %8.9 %8.2 %12.0 %7.3 % (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 three months ended June 30, 2024 has been recast to conform to the current year presentation. The recast does not impact previously reported condensed consolidated results. (2) The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions. (3) Loss on abandonment of assets represents the write-off of certain capitalized cloud computing arrangement implementation costs relating to a third-party developed operations management software product in favor of an application with functionality that better suits the Company's operations. (4) Digital transformation costs include costs associated with certain digital transformation initiatives. (5) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. (6) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan. WESCO INTERNATIONAL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (in millions, except per share amounts) (Unaudited) Three Months Ended March 31, 2025 EBITDA and Adjusted EBITDA by Segment:EESCSSUBSCorporateTotalNet income attributable to common stockholders$ 125.1$ 127.2$ 130.3$ (278.6)$ 104.0 Net (loss) income attributable to noncontrolling interests(0.1)0.1—(0.1)(0.1) Preferred stock dividends———14.414.4 Provision for income taxes(1)———36.136.1 Interest expense, net(1)———86.386.3 Depreciation and amortization12.219.07.89.448.4 EBITDA$ 137.2$ 146.3$ 138.1$ (132.5)$ 289.1 Other expense (income), net4.410.9(0.2)(14.9)0.2 Stock-based compensation expense1.01.30.47.510.2 Digital transformation costs(2)———6.26.2 Cloud computing arrangement amortization(3)———3.93.9 Restructuring costs(4)———1.11.1 Adjusted EBITDA$ 142.6$ 158.5$ 138.3$ (128.7)$ 310.7 Adjusted EBITDA margin %6.9 %7.9 %10.8 %5.8 % (1) The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions. (2) Digital transformation costs include costs associated with certain digital transformation initiatives. (3) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. (4) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring EBITDA, Adjusted EBITDA and Adjusted EBITDA margin % are non-GAAP financial measures that provide indicators of the Company's performance and its ability to meet debt service requirements. For the three months ended June 30, 2025, Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization before other non-operating expenses (income), non-cash stock-based compensation expense, digital transformation costs, cloud computing arrangement amortization, and restructuring costs. For the three months ended June 30, 2024, Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization before other non-operating expenses (income), non-cash stock-based compensation expense, loss on the abandonment of assets, digital transformation costs, cloud computing arrangement amortization, and restructuring. For the three months ended March 31, 2025, Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization before other non-operating expenses (income), non-cash stock-based compensation expense, digital transformation costs, cloud computing arrangement amortization, and restructuring costs. Adjusted EBITDA margin % is calculated by dividing Adjusted EBITDA by net sales. WESCO INTERNATIONAL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (in millions, except per share amounts) (Unaudited) Six Months Ended June 30, 2025 EBITDA and Adjusted EBITDA by Segment:EESCSSUBSCorporateTotalNet income attributable to common stockholders$ 287.2$ 289.3$ 268.1$ (551.4)$ 293.2 Net income (loss) attributable to noncontrolling interests—0.7—(0.5)0.2 Gain on redemption of Series A Preferred Stock———(27.6)(27.6) Preferred stock dividends———27.327.3 Provision for income taxes(1)———97.997.9 Interest expense, net(1)———179.2179.2 Depreciation and amortization24.638.115.418.696.7 EBITDA$ 311.8$ 328.1$ 283.5$ (256.5)$ 666.9 Other expense (income), net11.726.6(2.4)(43.0)(7.1) Stock-based compensation expense2.02.70.913.018.6 Digital transformation costs(2)———13.813.8 Cloud computing arrangement amortization(3)———11.111.1 Restructuring costs(5)———1.61.6 Adjusted EBITDA$ 325.5$ 357.4$ 282.0$ (260.0)$ 704.9 Adjusted EBITDA margin %7.5 %8.4 %10.6 %6.3 % (1) The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions. (2) Digital transformation costs include costs associated with certain digital transformation initiatives. (3) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. (4) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring Months Ended June 30, 2024 EBITDA and Adjusted EBITDA by Segment:EES(1)CSS(1)UBSCorporateTotalNet income attributable to common stockholders$ 319.4$ 210.8$ 429.3$ (640.3)$ 319.2 Net (loss) income attributable to noncontrolling interests(0.4)1.1—0.31.0 Preferred stock dividends———28.728.7 Provision for income taxes(2)———118.7118.7 Interest expense, net(2)———193.2193.2 Depreciation and amortization22.536.414.418.391.6 EBITDA$ 341.5$ 248.3$ 443.7$ (281.1)$ 752.4 Other expense (income), net8.335.2(102.4)(15.4)(74.3) Stock-based compensation expense2.13.31.65.812.8 Loss on abandonment of assets(3)———17.817.8 Digital transformation costs(4)———12.112.1 Restructuring costs(5)———9.09.0 Cloud computing arrangement amortization(6)———5.95.9 Excise taxes on excess pension plan assets(7)———4.84.8 Adjusted EBITDA$ 351.9$ 286.8$ 342.9$ (241.1)$ 740.5 Adjusted EBITDA margin %8.4 %7.9 %11.3 %6.8 % (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 six months ended June 30, 2024 has been recast to conform to the current year presentation. The recast does not impact previously reported condensed consolidated results. (2) The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions. (3) Loss on abandonment of assets represents the write-off of certain capitalized cloud computing arrangement implementation costs relating to a third-party developed operations management software product in favor of an application with functionality that better suits the Company's operations. (4) Digital transformation costs include costs associated with certain digital transformation initiatives. (5) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan. (6) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. (7) Excise taxes on excess pension plan assets represent the excise taxes applicable to the excess pension plan assets following the final settlement of the Company's U.S. pension Adjusted EBITDA and Adjusted EBITDA margin % are non-GAAP financial measures that provide indicators of the Company's performance and its ability to meet debt service requirements. For the six months ended June 30, 2025, Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization before other non-operating expenses (income), non-cash stock-based compensation expense, digital transformation costs, cloud computing arrangement amortization, and restructuring costs. For the six months ended June 30, 2024, Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization before other non-operating expenses (income), non-cash stock-based compensation expense, loss on abandonment of assets, digital transformation costs, restructuring costs, cloud computing arrangement amortization, and excise taxes on excess pension plan assets related to the final settlement of the Anixter Inc. Pension Plan. WESCO INTERNATIONAL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (in millions, except per share amounts) (Unaudited) Twelve Months Ended Financial Leverage: June 30,2025December 31,2024 Net income attributable to common stockholders $ 634.2$ 660.2 Net income attributable to noncontrolling interests 1.11.8 Gain on redemption of Series A Preferred Stock (27.6)— Preferred stock dividends 56.057.4 Provision for income taxes 210.7231.6 Interest expense, net 350.8364.9 Depreciation and amortization 188.4183.2 EBITDA $ 1,413.6$ 1,499.1 Other income, net (25.4)(92.7) Stock-based compensation expense 34.728.9 Digital transformation costs(1) 26.524.9 Restructuring costs(2) 4.812.1 Cloud computing arrangement amortization(3) 19.314.1 Loss on abandonment of assets(4) —17.8 Excise taxes on excess pension plan assets(5) 0.14.9 Adjusted EBITDA $ 1,473.6$ 1,509.1As ofJune 30,2025December 31,2024 Short-term debt and current portion of long-term debt, net $ 27.3$ 19.5 Long-term debt, net 5,641.25,045.5 Debt issuance costs and debt discount(6) 54.547.2 Fair value adjustments to the Anixter Senior Notes(6) —(0.1) Total debt 5,723.05,112.1 Less: Cash and cash equivalents 667.0702.6 Total debt, net of cash $ 5,056.0$ 4,409.5 Financial leverage ratio 3.42.9 (1) Digital transformation costs include costs associated with certain digital transformation initiatives. (2) Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan. (3) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives. (4) Loss on abandonment of assets represents the write-off of certain capitalized cloud computing arrangement implementation costs relating to a third-party developed operations management software product in favor of an application with functionality that better suits the Company's operations. (5) Excise taxes on excess pension plan assets represent the excise taxes applicable to the excess pension plan assets following the final settlement of the Company's U.S. pension plan. (6) Debt is presented in the condensed consolidated balance sheets net of debt issuance and debt discount costs, and includes adjustments to record the long-term debt assumed in the merger with Anixter at its acquisition date fair Financial leverage ratio is a non-GAAP measure of the use of debt. Financial leverage ratio is calculated by dividing total debt, excluding debt issuance costs, debt discount and fair value adjustments, net of cash, by adjusted EBITDA. EBITDA is defined as the trailing twelve months earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA is defined as the trailing twelve months EBITDA before other non-operating income, non-cash stock-based compensation expense, digital transformation costs, restructuring costs, cloud computing arrangement amortization, loss on abandonment of assets, and excise taxes on excess pension plan assets related to the final settlement of the Anixter Inc. Pension Plan. WESCO INTERNATIONAL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (in millions, except per share amounts) (Unaudited) Three Months EndedSix Months Ended Free Cash Flow: June 30, 2025June 30, 2024June 30, 2025June 30, 2024 Cash flow provided by (used in) operations $ 107.8$ (223.8)$ 135.8$ 522.5 Less: Capital expenditures (21.8)(20.8)(42.2)(41.2) Add: Other adjustments 0.510.52.316.0 Free cash flow $ 86.5$ (234.1)$ 95.9$ 497.3 Percentage of adjusted net income 47.9 %(131.1) %31.5 %159.1 %Note: Free cash flow is a non-GAAP financial measure of liquidity. Capital expenditures are deducted from operating cash flow to determine free cash flow. Free cash flow is available to fund investing and financing activities. For the three and six months ended June 30, 2025 and 2024, the Company paid for certain costs related to digital transformation and restructuring. Such expenditures have been added back to operating cash flow to determine free cash flow for such periods. Our calculation of free cash flow may not be comparable to similar measures used by other companies. View original content to download multimedia: SOURCE Wesco International
Irish Independent
a day ago
- Business
- Irish Independent
Wexford County Council rejects call to sever ties with companies ‘involved in breaching human rights'
In light of the ongoing conflicts in Palestine and Ukraine, Councillor Forde asked that the council no longer do business with companies 'complicit in human rights abuses' and 'ensure that human rights obligations are properly acknowledged, observed and respected at all stages of the procurement process." However, Cllr Forde's motion was rejected out of hand with the council executive stating it 'operates its procurement activities in line with all relevant legislation, regulations, guidelines and its own public procurement policy and procedures'. 'WCC is committed to the promotion of the use of environmental and social considerations in public procurement, this is further strengthened in WCC's corporate procurement plan,' it added. 'Any proposed ethical procurement policy would have to align with the EU treaty principles of transparency, equal treatment, mutual recognition, proportionality, and non-discrimination.' After the meeting, Cllr Forde expressed his disappointment that his motion was rejected, noting that the same motion had been passed in 13 other councils across the country. "The purpose of this initiative is to ethically advance how councils across Ireland tender and who they are affiliated to in accordance with international law obligations," he said. "This motion has already been passed by 13 councils. It is something that could have been easily achieved here in Wexford. We should be no different in this sense and we should be pushing for more. "Efforts to introduce such a policy have been quickly dismissed as being controlled by Europe and government and because of the potential to bring legal challenges, but I don't believe that is the case." Asking that his motion be reconsidered, Cllr Forde said the adoption of an EPP would ensure the council does not 'financially aid businesses and companies investing, practicing or complicit in human rights abuses when tendering." "We are living in an ever-changing world and we should be holding ourselves and human rights violators to the highest ethical standards," he added.
The Star
2 days ago
- The Star
Penang NGO celebrates 40 years of being a lifeline for women and children
In the heart of Penang, a quiet movement has been transforming lives for four decades. It began in the mid-1980s, when a small group of volunteers offered crisis counselling for domestic violence survivors from a small municipal car park. Today, the Women's Centre for Change (WCC) is a nationally recognised organisation, known for championing the rights of women and children, helping to shape national policies, and standing firmly beside those navigating some of life's most difficult experiences. As WCC celebrates its 40th anniversary, its legacy is best reflected in the voices of the women it has walked with, like Aisyah and Lisa (*pseudonyms), who found safety and a renewed hope through the organisation's support. WCC works with Penang Women's Development Corporation (PWDC) and One Stop Crisis Centre (OSCC) in public hospitals to train First Support Points to respond to domestic violence cases. New life Aisyah was abused by her father from the age of six to 16. Photo: FreepikAisyah was sexually abused by her father since she was six. The emotional and physical trauma shaped her entire childhood. She only realised something was deeply wrong after a school lesson on personal safety. But fear kept her silent. Her father had threatened to hurt her mother. Unable to bear the burden any longer, Aisyah confided in her mother, hoping to find support. But instead, she faced disbelief and anger. Isolated and in despair, her mental health deteriorated and she left school. At 17, she fled from home. With her foster sister's encouragement, Aisyah filed a police report and was sent to the hospital for a medical examination. She was referred to WCC's centre at the Women's Service Centre (PPW) in Seberang Perai for counselling. But her mother intercepted appointments and limited her phone access. A year later, Aisyah finally connected with a health clinic counsellor, who referred her directly to PPW. Through four counselling sessions, a PPW social worker taught her coping skills for what she had gone through. Pressured by relatives to withdraw her case, Aisyah's emotional and physical health declined. She had post traumatic stress disorder (PTSD), major depressive disorder (MDD) and epilepsy, which required hospital care and medication. Two years later, her father was finally charged in court. Supported and accompanied by her fiance, PPW's social worker and her psychologist, Aisyah attended the trial. At the fourth hearing, the accused pleaded guilty and was sentenced. For Aisyah, now 18, it was a long-awaited turning point. 'I want to leave the pain behind and build a new life – with peace and purpose – with those who have supported me,' she says. Turning point Lisa, a mother of six, endured abuse from her husband for over a decade – physical intimidation, emotional control and financial restrictions. Photo: FreepikLisa, a mother of six, endured abuse from her husband for over a decade – physical intimidation, emotional control and financial restrictions. He dictated her every move, isolating her from loved ones, even pulling her daughters out of school during the pandemic. In 2022, after a violent attack, Lisa decided to leave him. As she was walking by WCC, she instinctively walked in. The WCC social workers supported her over the next two years, providing crucial counselling to help her heal emotionally and rebuild her self-worth. They also helped her find work as a seamstress. WCC also provided counselling for her daughter who developed anxiety disorder and helped Lisa build strategies to support her son who struggled with anger issues and suicidal thoughts. They also helped raise emergency funds for her children's schooling and food. Eighteen months later, Lisa filed for divorce. The process was difficult and contested. But the WCC social workers were by her side every step of the way, providing emotional support and accompanying her to court hearings. Today, Lisa is financially independent and emotionally grounded. She took on multiple jobs to support her family – driving a school van, giving tuition and doing administrative work. 'WCC helped me move from survival to strength. They stood by me when I felt completely alone,' she says. Decades of impact I hope the next generation of women will be bold, compassionate and unafraid to speak out, says WCC executive director Loh Cheng Kooi, stories like Aisyah's and Lisa's embody what the NGO stands for. 'We have grown from a small crisis centre into a comprehensive organisation providing emotional support, legal aid, outreach, education and policy advocacy,' she says. Among WCC's proudest milestones are its school-based programmes: 'Ok Tak Ok', which teaches children about good and bad touch, and 'Respek', which educates teens on healthy relationships. These programmes have reached tens of thousands of students. In 2023, 'Ok Tak Ok' was held in 67 schools, attended by 7,700 children. WCC has also played a key role in national reform. Its support in a high-profile workplace misconduct case in the early 2000s was instrumental in pushing for the Anti-Sexual Harassment Act (2022). Its research into child-related offences contributed to the development of the Sexual Offences Against Children Act (2017), a law that better protects minors. Another major step came in 2009, when the Penang state government partnered with WCC to open PPW in Seberang Perai. Today, PPW handles nearly twice the number of cases compared to the island office, revealing a critical need for accessible services on the mainland. In 2017, WCC launched the WCC Value Shop, a preloved goods store that now provides sustainable source of income for the organisation – run with the help of volunteers. Looking ahead Social media campaigns are important for WCC to reach to a wider audience. 'There's still much work to do,' Loh notes. 'We need more trained professionals, stronger coordination among agencies, and a cultural shift in how society views survivors.' With digital access rising and many young people exposed to unhealthy content early, Loh says prevention must start young. 'By teaching children about respect, safety and body autonomy, we empower them to protect themselves and others.' Loh also emphasises the importance of internal care. 'This work takes a toll. So we make sure our team has regular peer check-ins, case sharing and time for self-care.' 'As for the future, I hope the next generation of women will be bold, compassionate and unafraid to speak out,' she says. 'Together, we can build a safer, more just society.'
Irish Independent
2 days ago
- Business
- Irish Independent
Wexford County Council opts to approve new Courtown hotel despite breaches of local area plan
In instances such as this, the decision to grant or refuse planning permission lies with the elected members. And at the July meeting of Wexford County Council (WCC), the decision to allow the development to go ahead, despite it being in breach of the Courtown and Riverchapel Local Area Plan (LAP), was approved by local councillors. The proposed development, by Bayview Limited, is for the construction of a 136-bedroom, six-storey hotel, on lands currently used as car parking at the edge of Courtown village. The existing coast access road, pedestrian bridge, and the landscaping to the watercourse to the east of the site would remain unaffected by the development. Outlining the reasons and considerations behind its decision to grant planning permission, WCC stated, 'The proposed development would provide much-needed accommodation in the area and bring longer stay visitors to the village that would benefit the local economy and bring new employment opportunities.' A consultation period took place between June 4 and July 1 which allowed members of the public to have their say on the proposed development. A number of submissions were made regarding the construction of a hotel in Courtown, some of which expressed concerns about how it will affect the local community. BPS Planning and Development Consultants, on behalf of the Harbour Court Residents Association, stated, "The argument that a development would have economic benefits is not one we consider normally to be used by planning authorities to overrule significant scale, massing, design, and zoning concerns. The LAP's open space and amenity (OSA) zoning cannot be viewed in isolation from the range of planning policies, aims, and objections set out in the LAP and the County Development Plan (CDP).' "The focus has clearly been on the purported economic benefits of a hotel without adequate due consideration of the benefits to the community. The guidelines confirm that the 'material contravention procedure' is intended as a mechanism to deal with specific non-conforming planning applications. These are, by definition, proposed developments which the applicant knew at the time of making the planning application was not permitted in principle or open for consideration. "It is meant to be an exceptional procedure for cases which, one would expect, are supported by the same public who voted for the elected members who adopted the LAP.' Previously, a further 32 submissions were made by members of the public, concerned residents, and local organisations. Recommending that councillors approve planning permission for the hotel, chief executive of WCC, Eddie Taaffe stated, 'No modifications of the proposed material contravention of the Courtown and Riverchapel LAP are recommended at this time on foot of the submissions received. In accordance with Section 34 (6) of the Planning and Development Act 2000, it is recommended that planning permission for the development of a 136-bedroom, six-storey hotel be considered by the members for approval as a material contravention of the LAP. "I therefore recommend that the members agree to pass a resolution approving the proposal to grant permission subject to standard conditions.' Funded by the Local Democracy Reporting Scheme.
