On February 13, 2024, Wesco released its quarterly earnings for Q4-2023, which the Company described as “very disappointing” with sales and revenues below expectations. Analysts characterized the quarterly results as a “massacre.”

The Company attributed sluggish revenues to higher-than-anticipated SG&A expenses, especially health care costs. However, analysts questioned this explanation and questioned the Company’s methods of generating its earnings projections, especially in light of the rapidly increased SG&A costs.

Following the release of the Q4-2023 earnings report, WCC shares fell $61.24, or 31.8%, to $132.59.