WESCO International, Inc. (NYSE:WCC) Q1 2023 Earnings Conference Call May 4, 2023 10:00 AM ET

Company Participants

Scott Gaffner - Senior Vice President-Investor Relations

John Engel - Chairman, President & Chief Executive Officer

Dave Schulz - Executive Vice President & Chief Financial Officer

Conference Call Participants

Deane Dray - RBC Capital Markets

Sam Darkatsh - Raymond James

Nigel Coe - Wolfe Research

Tommy Moll - Stephens

Christopher Glynn - Oppenheimer

David Manthey - Baird

Chris Dankert - Loop Capital

Ken Newman - KeyBanc Capital Markets

Operator

Hello and welcome to Wesco's First Quarter 2023 Earnings Call. I would like to remind you that all lines are in a listen-only mode throughout the presentation. [Operator Instructions] Please note that this event is being recorded.

I will now hand the call over to Scott Gaffner, SVP, Investor Relations, to begin.

Scott Gaffner

Thank you and good morning, everyone. Before we get started, I want to remind you that certain statements made on this call contain forward-looking information. Forward-looking statements are not guarantees of performance and, by their nature, are subject to inherent uncertainties. Actual results may differ materially. Please see our webcast slides as the company's SEC filings for additional risk factors and disclosures. Any forward-looking information relayed on this call speaks only as of this date, and the company undertakes no obligation to update the information to reflect the changed circumstances.

Additionally, today, we will use certain non-GAAP financial measures. Required information about these non-GAAP measures is available on our webcast slides and in our press release, both of which are posted on our website at wesco.com.

On this call -- on the call this morning, we have John Engel, Wesco's Chairman, President and Chief Executive Officer; and Dave Schulz, Executive Vice President and Chief Financial Officer.

And now I'll turn the call over to John.

John Engel

Thank you, Scott, and good morning, everyone. It's a pleasure to be with you today. We're off to a strong start this year and set a new first quarter company record for sales, backlog, margin and profitability. The power of our increased scale, our industry leading positions and our expanded portfolio of product, services and complete solutions is evident in our continued strong performance.

We delivered double-digit organic sales growth driven by secular demand trends, share gains and ongoing improvements in the supply chain. All three of our business units set new records for first quarter sales as well as gross margin. And we delivered another impressive quarter of cross-sell results, which continue to exceed our expectations.