PITTSBURGH , Sept. 26, 2024 /PRNewswire/ -- Wesco International (NYSE: WCC), will provide an update regarding its long-term growth strategy at its Investor Day meeting taking place in-person at its innovation center in Glenview, Ill. and online today at 9 a.
m. Central Time. Wesco will share an update on its digitally enabled business transformation and expansive capabilities to support long-term growth and margin expansion.
Consistent with prior expectations, over the long term it expects to achieve mid-single-digit organic growth, driven by a strategic shift into higher growth and higher margin end markets along with continued share gains. The company has a long-term track record of increasing returns to shareholders through acquisitions which are additive to the topline growth rate and margin expansion. Over the same cycle, the company expects to grow EBITDA at twice the rate of sales, expand return on net assets, and target free cash flow of 100% of adjusted net income.
Wesco's 2024 full-year expectations remain consistent with the outlook described in the company's second quarter earnings report. Wesco expects reported sales of (3.5)% to (1.
5)% and organic sales growth of (1.5)% to 0.5% versus the prior year.
The company continues to expect to deliver adjusted EBITDA of 7.0% to 7.3%, and adjusted EPS of $12 to $13 .
"Our investment thesis is built on our market leadership, future cash generation, and strong progress on our business transformation. We have multiple drivers.
