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WESCO International's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Stocks in this article: WCC

Means to access this conference call via webcast was disclosed in the press release was posted on our corporate website. Replay to this conference call will be archived and available for seven days.

A supplemental financial presentation has been produced, which provides a summary of certain financial and end market information to be reviewed in today’s commentary by management. We have filed the supplemental presentation with the Securities and Exchange Commission and posted it on our corporate website.

This conference call may include forward-looking statements and therefore, actual results may differ materially from expectations. For additional information on WESCO International, please refer to the company’s SEC filings, including the risk factors described therein. The following presentation may also include a discussion of certain non-GAAP financial measures. Information required by Regulation G with respect to such non-GAAP financial measures can be obtained via WESCO’s website at www.wesco.com.

I would now like to turn the conference call over to John Engel.

John Engel

Thank you, Dan and good morning everyone. Pleasure to be with you this morning. We are off to a good start in 2012. Our first quarter results reflect a continued execution of our one WESCO growth strategy. We have now posted selling consecutive quarters of double-digits sales growth and six consecutive quarters of EPS growth of well over 25% on a year-over-year basis.

In the first quarter we generated good momentum in all of our end markets. Organic sales to customers were up double-digits in industrial and utility, and we are up mid-single digits in construction and CIG. In addition, with the exception of Data communication sales which were down mid-single digits, sales for our other five major product categories increased in the quarter.

Backlog also grew and was up 5% versus last year and up 7% versus year end 2011. Notably, we closed out the quarter with very strong results in March where we delivered the highest sales per workday for any month in our history. So far in April sales are up mid-single digits.

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