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Wesco International Q1 2026 Investor Presentation
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2 Forward-Looking Statements and Non-GAAP Measures © 2026 Wesco International 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 tran sactions; 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 agains t 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 inc orporating artificial intelligence (AI); risks relating to our use or reliance on AI ; failure to execute on our efforts and programs related to environmental, social and governance (ESG) matters; unanticipated e xpenditures or other adverse developments related to compliance with new or stricter government policies, laws or regulations, including those relating to data privacy, cybersecurity, competition, 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 or AI capabilities and other digital solutions and digitalization initiatives; disruption of information technology systems or operations; natural disasters (including as a result of climate change), heal th epidemics, pandemics and other outbreaks; supply chain disruptions; geopolitical conflicts and issues, such as the ongoing Middle East and Russia/Ukraine conflicts; the impact of changing and expanding export controls, sanctions, and data localization rules; the failure to manage the increased risks and impacts of cyber incidents or data breaches; and exacerbation of key materials shortages, infl ationary 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 ope rations 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 . Non-GAAP Measures In addition to the results provided in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) above, thi s presentation includes certain non-GAAP financial measures. These financial measures include 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 o ther non-operating expense (income), adjusted provision for income taxes, adjusted income before income taxes, adjusted net income, adjusted net income attributable to WESCO International, Inc., adju sted 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 u nderstanding 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 su ch as digital transformation costs, restructuring costs, merger -related and integration costs, cloud computing arrangement amortization, pension settlement cost and excise taxes on excess pension plan assets related to the 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 arrang ement, and the related income tax effects, 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.
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Why Invest in Wesco Key elements of our investment thesis Market leader serving attractive end-markets Best positioned to deliver outsized growth due to the secular trends of AI-driven data centers, increased power generation and demand, electrification, IoT/automation and reshoring 01 Significant cash generation to invest in additional services and acquisitions Capital prioritized to invest in M&A, while supporting a consistent stock buyback program and increasing dividends 02 Business transformation to drive efficiencies and expand margins; enabled by digital ecosystem Will enable Wesco to accelerate our growth through greater cross-sell, expand our margins through pricing and operating leverage, and increase our working capital turns by leveraging our single global IT instance 03 3 © 2026 Wesco International Wesco is leveraging its sustainable value creation generating attractive returns with significant multiple expansion opportunity
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74% 14% 12% US Canada Rest of World Sales by Geography1 Wesco is a Leading Supply Chain Solutions Provider with Global Capabilities 4 39% 38% 23% CSS EES UBS Sales by Business Unit1 130,000 customers Millions of products 700+ locations End-Markets • Utility • Data Center • Construction • Network Infrastructure & Broadband • Security • Industrial • OEM Services • Advisory Services • Installation Enhancement • Project Deployment • Supply Chain Services Sales mixes by SBU and geography are for the fiscal year ended December 31, 2025 . $23.5 Billion in sales in 2025 © 2026 Wesco International
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Attractive Long-Term Secular Growth Drivers Digitalization 5 Al-driven data centers Automation and loT 24/7 Connectivity and security Power Generation and Reliability Supply Chain Resiliency Base load demand growth Electrification Grid hardening and modernization Diversification and regionalization Onshoring and reshoring U.S. industrial renaissance © 2026 Wesco International
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6 Value Accretive M&A and Optionality ~75% Continue to buy back stock while maintaining a modest dividend Return Cash ~25% Leveraging strong cash generation to drive operational performance, portfolio transformation and returns to shareholders. Cash Generation Provides Capital Allocation Catalyst Investment in capex and opex to drive organic growth Organic Investment Acquisitions, return of cash to shareholders and debt paydown 100% Free Cash Flow Conversion through the Cycle Free Cash Flow Capital Allocation Framework Top priority is M&A, followed by additional share repurchase and debt paydown © 2026 Wesco International
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© 2026 Wesco International Reinforcing Our M&A Framework Revenue and cost synergies to create accretive M&A value for shareholders 7 Industry Consolidation • Large M&A within the core business • Significant revenue and cost synergies • Operating leverage through scale Expand Services and Capabilities • Companies with complementary digital capabilities and/or value-added service offerings • Increase revenue with new and existing customers • Accretive margin profile Increase exposure to secular trends and expand capabilities Two Strategic Priorities for M&A
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A Technology- Enabled Business Transformation Examples of Wesco’s digital transformation impact Technology Enabled Business Transformation 8 Flexible tools and open architecture enables faster updates Sales representatives have a complete view of the customer relationship Tools and capabilities that separate us from our peers Across the value chain, our transformation is a win-win for customers, suppliers and our business © 2026 Wesco International
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Driving Toward Mid- and Long-Term EBITDA Margin Expansion 1 See appendix for non-GAAP definitions and reconciliations. 2 2026 outlook provided on February 10, 2026. Mid and long-term targets provided at September 2024 Investor Day. 9 2019 5.2% 2024 6.9% Adjusted EBITDA1 Margin % Mid-Term 2025 – 2027 4-6% Growth 20–30 bps EBITDA margin / year 3-5% Organic ~1% M&A 4-6% Reported • Operating Leverage • Gross Margin improvement Long-Term 2028 – 2030+ 4-6% Organic 1-2% M&A 5-8% Reported • Digital Transformation • SG&A Efficiencies • Cross Sell • M&A 5-8% Growth 40–50 bps EBITDA margin / year Target 10%+ 2025 6.5% © 2026 Wesco International 2026 Outlook2 ~6.8%
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Wesco is leveraging its clear and sustainable drivers of value creation generating attractive returns 10 Our Roadmap to the Future Capturing benefits of our Digital Transformation Nearly complete with our core technology and capabilities build; the financial and strategic benefits will enable our long-term targets 01 Progressing toward our 10%+ EBITDA margin We are focused on our target by 2030+, with multiple drivers for taking margins higher after ~130 bps improvement since 2019 02 04 Strategic capital deployment will substantially accelerate growth and margin expansion Executing our M&A strategy within an approach that also allocates capital for internal investment and return of cash to shareholders Generating strong and consistent cash flow We target free cash flow conversion of 100% through the cycle, in line with historical performance 03 © 2026 Wesco International
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11 Appendix © 2026 Wesco International
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1 Bar sizes indicate the percentage of SBU sales of full year 2025. Expected reported sales of 5% to 8%, with organic sales range of 4% to 7% 2026 Strategic Business Unit Sales Growth Drivers 12 % of Wesco 2025 Sales 2026 Outlook SBU Sales Breakdown1 2025 Actual 2026 Outlook Reported Sales Growth Reported Sales Growth Communication & Security Solutions 39% Up HSD+ Construction Industrial OEM Electrical & Electronic Solutions 38% Up MSD Enterprise Network Infrastructure Security Data Center Utility & Broadband Solutions 23% Up LSD - MSD Utility Broadband Data Center expected to be up mid-teens % Construction Industrial OEM Utility Broadband Enterprise Network Infrastructure Security Data Center © 2026 Wesco International
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13 2026 growth targets reflect solid momentum and continued operating execution Full-Year 2026 Outlook 2026 Underlying Assumptions • Cloud computing amortization and stock-based compensation are included in SG&A expense for adjusted EPS but are not included in adjusted EBITDA • Carryover pricing expected to add ~2 points to the topline; the impact of future pricing is not incorporated in the outlook • One mid-year interest rate cut of 25 bps incorporated into interest expense outlook 2026 Outlook Sales Organic sales growth 4% - 7% Estimated Fx impact ~1% M&A and Workday impact 0% Reported sales growth 5% - 8% Reported sales $24.7 - $25.4 billion Adjusted EBITDA Adjusted EBITDA margin 6.6% - 7.0% Adjusted EPS Adjusted diluted EPS $14.50 - $16.50 Cash Free cash flow $500 - $800 million FY 2026 Depreciation and Amortization ~$195-$205 Cloud Computing Amortization Expense Adjustment ~$50 Stock Compensation Expense Adjustment ~$40 Interest Expense ~$360-$375 Other Expense, net ~$10 Capital Expenditures ~$100 Share Count 49-49.5 Effective Tax Rate ~26%-27% (~27% in Q2-Q4) 2026 Outlook Assumptions (millions, except effective tax rate) © 2026 Wesco International See appendix for non-GAAP definitions and reconciliations.
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Positive momentum continued in January with preliminary sales per workday up ~15% First Quarter 2026 Outlook 14 Q1 Outlook YOY Reported Sales Up HSD Adjusted EBITDA % Up YOY (5)% 5% 15% Oct 24 Nov 24 Dec 24 Jan 25 Feb 25 Mar 25 Apr 25 May 25 Jun 25 Jul 25 Aug 25 Sep 25 Oct 25 Nov 25 Dec 25 YOY Organic Sales Trends Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 +2% +6% +7% +12% +9% © 2026 Wesco International
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Diversification Across High-Growth End-Markets Broad capabilities set the path for our next chapter 21% 18% 17% 14% 11% 10% 9% Construction Network Infrastructure & Broadband Utility Security Industrial OEM Note: Sales percentages are on a trailing twelve-month (TTM) basis through Dec 31, 2025. Data Center 15© 2026 Wesco International
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16 Communications & Security Solutions (CSS) Well positioned in global AI-driven data center space 16 63% U.S. 1 Sales percentages are for the fiscal year ended December 31, 2025. 50+ Countries Global leader in data center, network infrastructure and security $9.1 Billion FY 2025 Sales • Provider of connectivity, power, security, safety, energy management and wireless solutions • Supporting diverse industries including technology, finance, telecommunications, transportation, education, government, healthcare and retail • Well positioned within the data center, with capabilitiess in both white space and grey space 68% U.S. 6% Canada 26% ROW Sales by Geography1 16© 2026 Wesco International Industry Leading Scale and Scope Segment Overview 29% Security Sales by End-Market1 41% Data Center 30% Enterprise Network Infrastructure
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Data center sales were ~18% of Wesco company 2025 sales Data center sales totaled $4.3B, up ~50% in 2025 17 Up ~10% Up ~20% Up ~50% Up ~90% Up ~70% Up ~65% Up ~60% Up ~30% Q1 '24 Q2 '24 Q3 '24 Q4 '24 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Growth and Expansion of Capabilities Through M&A Data Center Land acquisition with access to power Transmission lines to a substation for site Generator sets to enable backup power Transformers to data center Civil construction Mechanical, plumbing and electrical equipment Electrical distribution inside data hall Commissioning November 2022 Hyperscale solutions Data center building intelligence software June 2024 Data center facility services across the entire lifecycle December 2024 3-5 Years Time to Power 1-2 Year Construction Period Total Data Center (all SBUs) Sales and YOY Growth white space Transformers Site Substation Generators ~$1.2B $4.3B in 2025 © 2026 Wesco International gray space
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Data Center Product, Services and Solutions Offering Providing holistic services and solutions for every phase of the data center lifecycle 18 White SpaceGray Space End-to-end electrical, automation and MRO capabilities Extensive next-generation infrastructure and services for always-on connectivity Physical Security, IoT, Pro A/V Access control, sensors and monitoring, video surveillance Electrical Infrastructure Building wire, cable trays, medium-voltage cable, switch gear, UPS systems MRO, Safety and Other Communication devices, janitorial, lighting, tools and equipment Mechanical and Cooling Automated switches and sensors, chillers, Computer Room Air Conditioning (CRAC), thermal IT Infrastructure Compute, network, storage, wireless technologies Communications Infrastructure Copper and fiber cabling systems, racks and enclosures, high-speed interconnects 80% 20% Wesco data center sales mix Data Center White Space Gray Space Global Ecosystem Expansive Portfolio Holistic Solutions Services and Solutions for Every Phase of the Data Center Lifecycle Installation Enhancement Rack and Roll Services Managed Services Project Deployment Services Advisory Services Grid Services OperationsPre-construction 18© 2026 Wesco International
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19 Electrical & Electronic Solutions (EES) Electrification, automation and reshoring drive growth 19 Industry Leading Scale and Scope 67% U.S. 9% ROW 24% Canada 26% Industrial 25% OEM 49% Construction 50+ Countries #1 Electrical Distributor in North America $9.0 Billion FY 2025 Sales Sales by End-Market1 Sales by Geography1 • Provider of electrical, MRO, safety and automation solutions • Broad range of products and solutions primarily to the construction, industrial and OEM markets • Uniquely positioned to provide the critical infrastructure expertise and solutions that enable the technologies of tomorrow Segment Overview 1 Sales percentages are for the fiscal year ended December 31, 2025. © 2026 Wesco International
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20 Utility & Broadband Solutions (UBS) Long-term capex budgets and large-scale data center projects drive growth 20 • Services and solutions for investor- owned utilities, public power companies and municipalities, as well as contractors that service these customers • Complete solutions for service providers, broadband and wireless customers • Leading provider of grid and network modernization, hardening, renewable deployments, smart technologies Industry Leading Position and Value Proposition Sales by End-Market1 Sales by Geography1 91% U.S. 9% Canada 11% Broadband 89% Utility #1 Utility and Broadband Distributor in North America $5.7 Billion FY 2025 Sales © 2026 Wesco International Segment Overview 1 Sales percentages are for the fiscal year ended December 31, 2025.
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Comprehensive solutions for large-scale and complex projects across the power chain Powering Critical Infrastructure with End-to-End Grid Services Program and Project Execution Project deployment, jobsite support, turnkey program management, emergency prep, response and restoration Supply Chain and Material Management Asset, materials and yard management, kitting, procurement, sourcing, staging, warehousing and logistics Technical and Field Support Value-added engineering, complex project management, product standardization and sourcing support Grid Services: Products and Solutions Distribution Overhead and underground MV networks Medium Voltage Cable connectivity and switching in MV environments Transmission Build, harden and modernize HV networks Substation Critical infrastructure, switching and transformation to the rack and equipmentFrom the grid to the building Holistic Power-to-Compute Solutions 21© 2026 Wesco International Switch and pad-mount cabinets, splices, termination kits Assemblies, conduit, insulators, poles, protective equipment Cable, insulators, grounding Breakers, regulators, steel structures, transformers
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Non-GAAP Measures 22© 2026 Wesco International In addition to the results provided in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”), this presentation may include references to certain non-GAAP financial measures. These financial measures may 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 expense (income), 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 merger-related and integration costs, digital transformation costs, restructuring costs, cloud computing arrangement amortization, pension settlement cost and excise taxes on excess pension plan assets related to the 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. 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. 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. 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. EBITDA is defined as earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA before other non-operating expenses (income), non-cash stock-based compensation expense, loss on abandonment of assets, digital transformation costs, merger-related and integration costs, restructuring costs, cloud computing arrangement amortization, gains on the sale of assets and divestitures, excise taxes on certain excess pension plan assets related to the final settlement of the Anixter Inc. Pension Plan, and merger-related fair value adjustments. Adjusted EBITDA margin % is calculated by dividing Adjusted EBITDA by net sales. 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. Financial leverage ratio is a non-GAAP measure of the use of debt. Financial leverage ratio is calculated by dividing total debt, excluding debt discount, debt issuance costs and fair value adjustments, net of cash, by adjusted EBITDA.
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Organic Sales Growth and Gross Profit 23© 2026 Wesco International (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 and year ended December 31, 2024 has been recast to conform to the current year presentation. The recast does not impact previously reported condensed consolidated results ($ Millions) 2025 2024 Reported Sales Acquisition/ Divestiture Foreign Exchange Workday Organic Sales EES(1) $ 8,955.5 $ 8,391.7 6.7% 0.0% (0.4%) (0.4%) 7.5% CSS(1) 9,101.0 7,692.1 18.3% 1.9% 0.1% (0.4%) 16.7% UBS 5,454.4 5,735.0 (4.9%) (3.3%) (0.2%) (0.4%) (1.0%) Total net sales $ 23,510.9 $ 21,818.8 7.8% (0.2%) (0.2%) (0.4%) 8.6% Twelve Months Ended December Growth/(Decline) Gross Profit Organic Sales Growth ($ millions) Twelve Months Ended December 31, 2025 Net Sales 23,510.9$ Cost of goods sold (excluding depreciation and amortization) 18,538.9 Gross profit 4,972.0$ Gross margin 21.1%
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Adjusted EBITDA and Leverage 24(1) Certain amounts may not foot or recalculate due to rounding from thousands to millions for presentation of this table. © 2026 Wesco International Pro Forma ($ millions)(1) 2019 2020 2021 2022 2023 2024 2025 Net Sales 8,358.9$ 16,016.9$ 18,217.5$ 21,420.1$ 22,385.2$ 21,818.8$ 23,510.9$ Net income attributable to common stockholders 223.4 115.6 408.0 803.1 708.1 660.2 645.8 Net (loss) income attributable to noncontrolling interests (1.2) (0.5) 1.0 1.7 0.6 1.8 2.3 Gain on redemption of Series A Preferred Stock - - - - - - (32.9) Preferred stock dividends - 30.1 57.4 57.4 57.4 57.4 27.3 Provision for income taxes 59.9 55.7 115.5 274.5 225.9 231.6 213.4 Interest expense, net 65.7 255.8 268.1 294.4 389.3 364.9 386.7 Depreciation and amortization 62.1 153.5 198.6 179.0 181.3 183.2 197.6 EBITDA 409.9$ 610.2$ 1,048.5$ 1,610.1$ 1,562.6$ 1,499.1$ 1,440.2$ Other expense (income), net (1.6) 4.6 (48.1) 7.0 25.1 (92.7) (9.6) Stock-based compensation expense 19.1 34.7 25.7 41.0 45.5 28.9 40.5 Digital transformation costs - - - - 36.1 24.9 35.2 Cloud computing arrangement amortization - - - - - 14.1 30.2 Restructuring costs - - - - 16.7 12.1 - Loss (gain) on divestitures and sale of assets - (19.8) (8.9) - - - - Merger-related and integration costs and fair value adjustments 3.1 206.7 158.5 67.4 19.3 - - Loss on abandonment of assets - - - - - 17.8 - Excise taxes on excess pension plan assets - - - - - 4.9 - Adjusted EBITDA 430.5$ 855.3$ 1,175.7$ 1,725.6$ 1,705.3$ 1,509.1$ 1,536.5$ Adjusted EBITDA margin % 5.2% 5.3% 6.5% 8.1% 7.6% 6.9% 6.5% Short-term debt and current portion of long-term debt, net 26.7 528.8 9.5 70.5 8.6 19.5 25.0 Long-term debt, net 1,257.1 4,370.0 4,701.5 5,346.0 5,313.1 5,045.5 5,756.4 Debt discount and debt issuance costs 8.8 88.2 70.6 57.9 43.0 47.2 48.0 Fair value adjustments to Anixter Senior Notes due 2023 and 2025 - (1.7) (0.9) (0.3) (0.1) (0.1) - Total debt 1,292.6 4,985.3 4,780.7 5,474.1 5,364.6 5,112.1 5,829.4 Less: Cash and cash equivalents 150.9 449.1 212.6 527.3 524.1 702.6 604.8 Total debt, net of cash 1,141.7$ 4,536.2$ 4,568.1$ 4,946.8$ 4,840.5$ 4,409.5$ 5,224.6$ Financial leverage ratio 2.7x 5.3x 3.9x 2.9x 2.8x 2.9x 3.4x Twelve Months Ended December 31,
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Adjusted Earnings Per Diluted Share 25© 2026 Wesco International ($ Millions, except for per share data) Twelve Months Ended December 31, 2025 Adjusted income from operations $1,268.2 Interest expense, net 386.7 Adjusted other (income) expense, net (9.9) Adjusted income before income taxes 891.4 Adjusted provision for income taxes 222.9 Adjusted net income 668.5$ Net income attributable to noncontrolling interests 2.3 Adjusted net income attributable to WESCO International, Inc. 666.2$ Preferred stock dividends 27.3 Adjusted net income attributable to common stockholders 638.9$ Diluted shares 49.5 Adjusted earnings per diluted share 12.91$
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Free Cash Flow 26© 2026 Wesco International ($ millions) 2012 2013 2014 2015 2016 2017 2018 2019 2024 2025 Cash flow provided by operations 288.2$ 315.1$ 251.2$ 283.1$ 300.2$ 149.1$ 296.7$ 224.4$ 1,101.2$ 125.0$ Less: Capital expenditures (23.1) (27.8) (20.5) (21.7) (18.0) (21.5) (36.2) (44.1) (94.7) (99.8) Add: Other Adjustments - - - - - - - - 38.7 28.6 Add: Non-recurring pension contribution - 21.1 - - - - - - - - Free cash flow 265.1$ 308.4$ 230.7$ 261.4$ 282.2$ 127.6$ 260.5$ 180.3$ 1,045.2$ 53.8$ Twelve Months Ended December 31,