Analogy 1: Amazon for businesses needing industrial, electrical, and utility supplies.

Analogy 2: The Home Depot for large industrial clients and utility companies.

Analogy 3: Sysco, but for industrial and utility supplies instead of food.

Major Products

• Electrical Components: WESCO distributes a wide array of electrical products, including wire, cable, lighting, power distribution equipment, and automation controls.
• Data Communications Equipment: The company provides networking infrastructure, structured cabling systems, and related data center solutions.
• Utility & Broadband Infrastructure: WESCO supplies equipment for power transmission and distribution, as well as fiber optic and broadband network components.
• Safety & MRO Supplies: This includes personal protective equipment (PPE), facility maintenance items, and other essential maintenance, repair, and operating supplies.

Major Services

• Supply Chain Solutions: WESCO offers services like inventory management, logistics optimization, e-procurement, and warehousing to streamline client operations.
• Energy Management Services: The company provides solutions to enhance energy efficiency, reduce costs, and support sustainable energy initiatives for businesses.
• Project Management & Support: WESCO assists with large-scale projects through planning, sourcing, on-site material management, and technical support.

WESCO International (symbol: WCC) primarily operates as a business-to-business (B2B) distributor and solutions provider.

According to its latest SEC filings (most recently the Form 10-K for the fiscal year ended December 31, 2023), WESCO serves a highly fragmented customer base across numerous vertical markets. As such, no single customer or group of customers within its end markets accounted for 10% or more of its consolidated net sales in 2023, 2022, or 2021. Therefore, specific names of individual major customer companies are not publicly disclosed.

Instead, WESCO serves a vast array of companies and organizations across four primary market sectors. These categories represent the types of customer companies that WESCO sells to:

• Industrial Customers: This category includes companies in manufacturing, processing, energy (oil & gas, renewables), mining, transportation, and other industrial sectors that require products and solutions for their operations, maintenance, and capital projects.
• Construction Contractors: WESCO supplies products and services to electrical, mechanical, and general contractors engaged in commercial, institutional, and industrial construction projects.
• Utility Customers: This sector encompasses electric utilities (including investor-owned, public power, and cooperatives), as well as broadband communication providers and telecommunication service providers.
• Commercial, Institutional, and Government (CIG) Customers: This broad category includes entities such as educational institutions, healthcare facilities, government agencies (federal, state, and local), data centers, and other commercial enterprises.

John J. Engel, Chairman, President, and Chief Executive Officer

John J. Engel has served as Chairman of the Board of Directors since May 2011 and as President and Chief Executive Officer since September 2009. Before becoming CEO, he was WESCO's Senior Vice President and Chief Operating Officer from 2004 to 2009. Prior to joining WESCO in 2004, Mr. Engel held senior leadership positions at several companies, including Senior Vice President and General Manager of Gateway, Inc., Executive Vice President and Senior Vice President of PerkinElmer, Inc., and Vice President and General Manager of AlliedSignal, Inc. He also held various engineering, manufacturing, and general management roles at General Electric Company. During his tenure as CEO, WESCO has completed more than 20 acquisitions. WESCO itself was purchased by the private equity firm Clayton, Dubilier & Rice (CD&R) in 1994, which later sold it to The Cypress Group in 1998, before WESCO became a public company through an IPO in 1999.

David S. Schulz, Executive Vice President and Chief Financial Officer

David S. Schulz has been the Chief Financial Officer and Executive Vice President of WESCO International since 2020. Before this, he served as Senior Vice President at WESCO from 2016 to 2020. His prior experience includes serving as Senior Vice President and Chief Operating Officer at Armstrong Flooring, Inc., and Senior Vice President and Chief Financial Officer at Armstrong World Industries, Inc., from 2013 to 2016. Mr. Schulz also held several financial leadership positions with Procter & Gamble and The J.M. Smucker Company.

Hemant Porwal, Executive Vice President, Supply Chain and Operations

Hemant Porwal has served as Executive Vice President of Supply Chain and Operations at WESCO since June 2020. He previously held the role of Vice President of Global Supply Chain and Operations at the company from 2015 to 2020. Prior to joining WESCO, Mr. Porwal was a Vice President at Sears Holding Corporation and held various roles at PepsiCo.

Christine A. Wolf, Executive Vice President, Chief Human Resources Officer

Christine A. Wolf has served as Executive Vice President and Chief Human Resources Officer at WESCO since 2020.

Akash Khurana, Executive Vice President, Chief Information and Digital Officer

Akash Khurana has been Executive Vice President and Chief Information and Digital Officer at WESCO International since 2020.

The clear emerging threat to WESCO International (WCC) is the ongoing expansion and increasing sophistication of digital B2B marketplaces, most prominently Amazon Business. These platforms offer a vast array of products, competitive pricing, and streamlined procurement processes, directly challenging traditional distributors by facilitating direct access for buyers to a broad supply base. This trend creates pressure on WESCO's pricing, necessitates further investment in its own digital capabilities, and threatens to disintermediate WESCO, particularly for more commoditized products and standard MRO (Maintenance, Repair, and Operations) items.

WESCO International (symbol: WCC) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:

1. Growth in AI-driven Data Centers: WESCO is strategically positioned to capitalize on the exceptionally high growth in the data center business, particularly those driven by Artificial Intelligence. The company has reported and anticipates continued significant growth in its data center solutions segment. For example, WESCO's data center sales were up approximately 60% year-over-year in Q3 2025, reaching close to $4 billion on a trailing 12-month basis. The full-year outlook for WESCO data center solutions sales growth for 2025 was increased to approximately 50%.
2. Secular Trends in Electrification, IoT, and Automation: WESCO is well-positioned to benefit from ongoing secular growth trends in electrification, the Internet of Things (IoT), and automation. The company has highlighted these areas as significant drivers for future sustained outperformance.
3. Recovery and Expansion in the Utility Market: While there has been some recent weakness, WESCO anticipates a recovery and further growth in its Utility and Broadband Solutions (UBS) segment. Growth is expected to be driven by investor-owned utility customers, with public power customers projected to return to growth in 2026.
4. Digital Transformation and Innovation: WESCO's investments in digital transformation, including the integration of generative AI analytics and the development of new digital tools, are expected to accelerate growth and enhance operational efficiency. These technological advancements aim to improve working capital efficiency and support long-term growth and margin expansion.

Share Repurchases

• WESCO's Board of Directors authorized a $1 billion share repurchase program on May 31, 2022, which includes both common and Series A Preferred Stock and has no expiration date.
• For the nine months ended September 30, 2024, the company repurchased common stock totaling $378.8 million.
• For the nine months ended September 30, 2025, WESCO repurchased common stock totaling $75.8 million.

Share Issuance

• The merger with Anixter International in June 2020 involved the issuance of WESCO common stock and preferred stock (depositary shares) to Anixter shareholders as part of the total consideration.
• In February 2025, WESCO announced a private offering of $600 million aggregate principal amount of senior notes due 2033, with proceeds intended to redeem all outstanding Series A Preferred Stock and repay other debt.
• WESCO completed the redemption of its preferred stock in June 2025, which is projected to provide an estimated $30 million annualized net income and cash flow benefit.

Outbound Investments

• In June 2020, WESCO completed its merger with Anixter International Inc., a significant acquisition valued at approximately $4.5 billion, creating a global B2B distribution and supply chain solutions company.
• In December 2024, WESCO acquired Ascent, a provider of data center facility management services, which had $115 million in trailing twelve-month sales.
• WESCO made a strategic investment in Kojo in October 2025, an AI-driven supply chain technology company, to enhance their commercial and technology partnership.

Capital Expenditures

• Capital expenditures for WESCO were $92.3 million in 2023.
• Projected capital expenditures are $94.7 million for 2024 and $113.8 million for 2025.
• The primary focus of capital expenditures includes digital transformation efforts, investment in technology like generative AI analytics and digital tools, and supporting growth in strategic areas such as data centers and electrification.