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Wesco to Announce Strategic Vision and Financial Goals at 2024 Investor Day

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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 of our future sustained outperformance and are well-positioned to deliver outsized growth due to secular trends in AI-driven data centers, increased power generation, electrification, IoT and automation, and re-shoring of global supply chains. We’re more than halfway complete on our technology and capabilities build. We have introduced generative AI analytics, automated multiple order and fulfillment processes, and developed new digital tools to improve working capital efficiency. These advancements are expected to accelerate growth, expand margins, and enhance the integration of future acquisitions. Our experienced management team, comprised of industry veterans with deep domain knowledge and new talent additions, is focused on driving our strategic priorities and achieving our financial goals,” said Chairman, President and CEO John Engel.

“As we stand here today, we have built a new Wesco. Since our last investor meeting two years ago, we have completed our integrations of Anixter and Rahi Systems while making substantial progress on our business transformation. We are laser-focused on the four critical components of our long-term value creation: capturing the benefits of our digital transformation; progressing toward our 10%+ EBITDA margin goal; generating strong and consistent cash flow; and investing in services and acquisitions while supporting a consistent return of capital to our shareholders over time. We are committed to achieving our vision of becoming the best tech-enabled supply chain solutions company in the world and creating value for all stakeholders,” he said.

Webcast and Teleconference Access

Wesco will conduct a webcast and in-person meeting on Thursday, September 26, 2024, at 9:00 a.m. C.T. The event will be broadcast live over the internet and can be accessed from the Investor Relations page of the Company’s website at https://investors.wesco.com. 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 more than $22 billion in annual sales 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, government agencies, educational institutions, telecommunications providers, and utilities. Wesco operates nearly 800 branches, warehouses and sales offices in more than 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; 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

Will Ruthrauff
Director, Investor Relations

484-885-5648

Jennifer Sniderman

Vice President, Corporate Communications
717-579-6603

 

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SOURCE Wesco International

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Government of Canada Announces Support for Indigenous-led Climate Solutions in Remote Indigenous Communities

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3 hours ago

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October 6, 2024

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THUNDER BAY, ON, Oct. 6, 2024 /CNW/ -  First Nations, Inuit, and Métis in Canada are at the forefront of efforts to address climate change and adapt to the environmental and economic impacts of our changing climate. The Government of Canada is committed to supporting self-determined action in addressing Indigenous Peoples’ climate priorities to create a healthy and resilient future for all.

Today, the Government of Canada is pleased to announce Phase 2 of the Indigenous Off-Diesel Initiative (IODI) Cohort 2. During this phase, the following 10 Energy Champion teams from remote Indigenous communities and Nations will receive up to $500,000 to conduct community engagement, complete training and develop their Community Energy Plan.

Xeni Gwet’in First Nations Government, British ColumbiaTahltan Band Council, British ColumbiaUchucklesaht Tribe Government, British ColumbiaḴwiḵwa̱sut’inux̱w Ha̱xwa’mis First Nation, British ColumbiaHamlet of Paulatuk, Northwest TerritoriesFort Chipewyan, AlbertaMountain Cree Camp, AlbertaPangnirtung, NunavutKiashke Zaaging Anishinaabek – Gull Bay First Nation, OntarioKangirsuk, Nunavik, Quebec

Comprising clean energy leaders, the 10 Energy Champion teams completed the 20/20 Catalysts program delivered by the Indigenous Clean Energy Social Enterprise, the federal government’s delivery partner on the Initiative. An Energy Champion from each team has also been paired with mentors to receive tailored support in areas including technical knowledge, community engagement and project management.

Following the successful completion of Phase 2, these 10 Energy Champion teams may be eligible to receive additional funding to advance project design and development, guided by their Community Energy Plan, as part of Phase 3 in 2025.

Quotes  

“Indigenous Peoples face significant and unique climate challenges that threaten livelihoods, cultures, knowledge systems and lives. In the face of these threats, Indigenous communities from coast to coast to coast are taking remarkable action to fight climate change and adapt to its impacts. Indigenous-led climate solutions offer better resiliency, better outcomes and more space for expert voices as we move together along the path to a clean and prosperous future. I am pleased to see these 10 projects enter a new phase and look forward to seeing the innovations to come.”

The Honourable Jonathan Wilkinson
Minister of Energy and Natural Resources   

“Indigenous Peoples are on the front lines of climate change in Canada, and as the original stewards of our lands and waters, they are uniquely positioned to lead solutions to ensure a sustainable and prosperous future for generations to come. I am consistently inspired by the clean energy projects carried out in Indigenous communities, and I applaud the Energy Champions for entering this exciting new phase of community engagement, training and planning for a more resilient future where all can benefit from a sustainable and strong economy.”

The Honourable Patty Hajdu
Minister of Indigenous Services and Minister Responsible for the Federal Economic Development Agency of Northern Ontario  

“As the way of life of Indigenous communities continues to be impacted due to our changing climate, especially in the North and Arctic, it is more important than ever that they be a driving force in how we adapt to these changes. Starting Phase 2 of this clean-energy initiative is a testament to our shared commitment to reconciliation and the power of meaningful relationships with First Nations, Inuit and Métis communities in tackling how we can actively adjust our actions to support a cleaner future for the next seven generations.”  

The Honourable Dan Vandal
Minister of Northern Affairs

“The transition to clean energy continues to be important to Indigenous communities and the Government of Canada as we work together toward reconciliation. The Indigenous Off-Diesel Initiative projects announced today are a great example of the way we can encourage self-determined priorities by supporting communities in increasing their control over their energy future and well-being.” 

Michael V. McLeod  
Member of Parliament for Northwest Territories

Quick Facts  

Cohort 2 of the Indigenous Off-Diesel Initiative (IODI) is part of the $300 million announced in Canada’s Strengthened Climate Plan to support clean energy projects in Indigenous, rural and remote communities.IODI is a clean energy training and funding program that supports Indigenous-led climate solutions in remote Indigenous communities that currently use diesel or fossil fuels for heat and power.IODI was first launched in 2019 and was designed based on 18 months of engagement with Indigenous communities, rights holders and organizations. It is delivered in collaboration with the Indigenous Clean Energy Social Enterprise (ICE SE) and the Government of Canada.Applicants who were not selected to participate in Cohort 2 of IODI were invited to meet directly with a member of the Wah-ila-toos federal team and the team at the Indigenous Clean Energy Social Enterprise to discuss their priorities and other possible funding options. They were also invited to join the ICE Network, an online collaborative space for everyone working on Indigenous Clean Energy projects, and to attend future ICE Network events.The IODI is delivered through Wah-ila-toos, a single-window access point for Indigenous, rural and remote communities to obtain Government of Canada funding and resources for clean energy initiatives. The Government of Canada will continue to develop meaningful relationships with Indigenous communities to advance reconciliation and self-determination, advance clean energy projects and help ensure new economic opportunities through strong Indigenous climate leadership.Wah-ila-toos is administered by Natural Resources Canada, Crown-Indigenous Relations and Northern Affairs Canada, Indigenous Services Canada, Environment and Climate Change Canada, and Infrastructure Canada. The name Wah-ila-toos was gifted by three Grandmothers and Elders. It represents kinship with all and our duty to be in good relations with all.

Related Information

Indigenous Off-Diesel Initiative Indigenous Off-Diesel Initiative – Cohort 2 Canada’s Strengthened Climate Plan  Wah-ila-toos  20/20 Catalysts program  Indigenous Clean Energy  

Follow us on LinkedIn      

SOURCE Natural Resources Canada

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Howard Stern to Interview Vice President Kamala Harris Live on Tuesday, October 8, 2024 at 1:00 pm ET on SiriusXM

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5 hours ago

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October 6, 2024

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NEW YORK, Oct. 6, 2024 /PRNewswire/ — With less than one month until Election Day 2024, SiriusXM today announced that Howard Stern will interview Kamala Harris, current Vice President and the 2024 Democratic presidential nominee, in a live, special edition of SiriusXM’s “The Howard Stern Show” on Tuesday, October 8, 2024 on 1:00 pm ET, to air on Howard Stern’s exclusive SiriusXM channel Howard 100 with back-to-back replays throughout the day, further replays through the week, and full interview audio and video on demand on the SiriusXM app.   

Howard Stern’s reputation as an interviewer is unmatched, and his gift for bringing out untold stories from the biggest names in music, entertainment, comedy and beyond, from and for every generation during deep, wide-ranging, long-form conversations is sure to deliver SiriusXM subscribers a one-of-a-kind interview with Vice President Harris at this critical juncture. The Vice President’s decision to sit down with Howard Stern at such a pivotal moment in the campaign highlights not only the incredible talent of Howard; it underscores the important role that SiriusXM and its listeners play in the country today.

Vice President Harris will also make her debut appearance on “Call Her Daddy” with Alex Cooper this week, just days after the leading female podcaster and her network Unwell kicked off a new deal with SiriusXM.

Vice President Harris joins the list of major politicians who have appeared on SiriusXM shows since the race began. Since September 2023, President Joe Biden, former President Donald J. Trump, and Senator JD Vance have all joined SiriusXM and its hosts.

SiriusXM’s 24/7 live coverage of news and politics makes it the go-to audio destination for all Americans this election season. SiriusXM is available to subscribers in their car, on their phone and connected devices at home with the SiriusXM app. Streaming access is included for most subscribers. Go to https://www.siriusxm.com/ways-to-listen for more.

About Sirius XM Holdings Inc.
SiriusXM is the leading audio entertainment company in North America with a portfolio of audio businesses including its flagship subscription entertainment service SiriusXM; the ad-supported and premium music streaming services of Pandora; an expansive podcast network; and a suite of business and advertising solutions. Reaching a combined monthly audience of approximately 150 million listeners, SiriusXM offers a broad range of content for listeners everywhere they tune in with a diverse mix of live, on-demand, and curated programming across music, talk, news, and sports. For more about SiriusXM, please go to: www.siriusxm.com.

Source: SiriusXM

Media Contacts:

Maggie Mitchell
maggie.mitchell@siriusxm.com 

Carolina Dubon
carolina.dubon@siriusxm.com 

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SOURCE Sirius XM Holdings Inc.

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ScanMyPhotos.com Urges Digitizing Pictures Before Weather Disasters in CBS News Feature

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11 hours ago

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October 6, 2024

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Join the Race Against Time to Digitize Pictures for Families, Businesses, and Celebrities

IRVINE, Calif., Oct. 6, 2024 /PRNewswire-PRWeb/ — As climate change leads to more frequent and severe natural disasters, families and organizations scramble to save their irreplaceable photo memories.

A recent CBS News® segment underscores the heart-wrenching reality of losing these memories to disasters like Hurricane Helene, emphasizing the urgent need to digitize vulnerable photo collections before it’s too late.

ScanMyPhotos.com: Every photograph holds a piece of someone’s life, and digitally safeguarding these memories before disaster strikes is not just a service we offer—a mission we deeply believe in.

What Happened:

ScanMyPhotos.com, a pioneer in the photo imaging industry since 1990, has been recognized for its vital role in this effort. The TV news feature highlights the crucial role of photo digitization in protecting irreplaceable nostalgia, especially as climate change increases the risk to physical photos.

It emphasizes the urgency of digital preservation, which helps safeguard pictures, 35mm slides, film negatives, VHS tapes, and home movie reels from natural disasters and the effects of time.

CBS NEWS® VIDEO: Watch Here

Why This Is Important:

The TV news story reported on the company’s work in digitizing 347,000 film negatives for The Cayman Compass®, ensuring 57 years of history remained safe from hurricane damage and to share. It also profiled how the family of the late actor and CBS icon Ed Asner entrusted ScanMyPhotos.com with their personal photo archives, the importance of preserving the nation’s photo history.

“Weather disasters are happening more frequently, and the cost is not just financial—it’s emotional,” said Mitch Goldstone, CEO and Chief Photo Archivist at ScanMyPhotos.com. “Every photo tells a story. We are committed to making sure those visual stories are never lost. Being featured on CBS News is a significant moment reflecting 34 years of dedication to preserving photographs. It’s a profound honor to see our lifelong commitment to safeguarding family histories recognized on such a significant stage,” said Goldstone.

Carl Berman, co-founder of ScanMyPhotos.com, reflected on the CBS Evening News spotlight: “Seeing our work featured on a national stage reminds us of the profound impact we can have on preserving family histories. Every photograph holds a piece of someone’s life, and safeguarding these memories before disaster strikes is not just a service we offer—a mission we deeply believe in. We are honored to earn the trust to help families keep their cherished pictures safe.”

Why Digitize Now?

With natural disasters becoming more frequent and severe due to climate change, physical photo collections are increasingly at risk. ScanMyPhotos.com offers affordable and simple solutions. This includes same-day scanning upgrades and other popular archival services, providing high-resolution digital files to ensure personal and historical photos are preserved and protected from disasters, fading away or getting lost.

Why This Story Is Timely:

Beyond weather disaster preparedness, it is also The National Archives’ American Archives Month. As part of the importance of preserving photos and historical records, their mission resonates with ScanMyPhotos.com’s role in digitizing and safeguarding photographs from the escalating threats of climate change and natural disasters.

How ScanMyPhotos.com Can Help:

Speed: Lightning-fast scanning with same-day results.Quality: High-resolution digital files that capture every detail.Affordability: Competitive pricing to fit every budget.Security: Secure handling and storage of photo media, including saving to flash drives, DVD data disks, and uploaded jpeg digital files directly to your inbox.

Money-Saving Discount: For a limited time, save up to 50% off scanning services at ScanMyPhotos.com with promo code: FlashSale

CBS News Quotes:

• Matt Asner, son of CBS legend Ed Asner, who had ScanMyPhotos.com digitize his photo collection, remarked, “You always see the news stories where people are crying about what they lost.” This highlights the urgent need for digital photo preservation in today’s changing climate.

• Mitch Goldstone added, “There’s an urgency, a race to go digital before the next natural disaster.” With our advanced digital pro scanners capable of digitizing 1,000 pictures in under five minutes and one slide each second, we are committed to safeguarding memories swiftly and effectively.

• Jackie Doak, Director at Dart Enterprises Ltd., explained the significance of their TimeBack photo archival project: “We realized this wasn’t just storage but history.” She noted the project’s emotional impact, with people reacting to the scanned photos by saying, “Oh my gosh, we don’t have any photos because we lost them in Hurricane Ivan… a memory now preserved.”

• Dave Malkoff, a CBS News national correspondent, provided crucial context: “When CBS legend Ed Asner died three years ago, it was up to his son, Matt Asner, to save family history from the kind of disaster that has become more common as the world heats up. Even governments are racing to save their history. The Cayman Islands scanning project was massive—347,000 photos. A memory now preserved.”

About ScanMyPhotos.com:

Founded in 1990, ScanMyPhotos.com is an e-commerce service that specializes in photo digitization, providing services for many media formats, including photographs, 35mm slides, VHS tapes, film negatives, and home movie reels. The company offers same-day scanning and high-resolution digital files to help preserve personal and historical photo collections against deterioration and potential disasters.

ScanMyPhotos.com collaborates with various organizations and individuals, reflecting its commitment to the preservation of visual memories. For more information, visit ScanMyPhotos.com and their blog at ScanMyPhotos.com/blog.

CBS NEWS® VIDEO: Watch Here

Cayman Compass TimeBack® Project: Learn More

[CBS News® is a trademark of Paramount Global. This news release is not an implied endorsement and originated from ScanMyPhotos.com which is responsible for its content].

Media Contact

Mitch Golsdtone, ScanMyPhotos.com, 1 7149064444, Goldstone@ScanMyPhotos.com, ScanMyPhotos.com

Mitch Goldstone, ScanMyPhotos.com, 1 949-474-7654 111, Goldstone@ScanMyPhotos.com, http://www.ScanMyPhotos.com

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SOURCE ScanMyPhotos.com

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