WESCO International, Inc. (NYSE:WCC) Q3 2022 Earnings Conference Call November 3, 2022 10:00 AM ET

Company Participants

Scott Gaffner - SVP, Investor Relations

John Engel - Chairman, President and Chief Executive Officer

Dave Schulz - Executive Vice President and Chief Financial Officer

Conference Call Participants

Deane Dray - RBC Capital Markets

David Manthey - Baird

Sam Darkatsh - Raymond James

Nigel Coe - Wolfe Research

Christopher Glynn - Oppenheimer

Tommy Moll - Stephens

Ken Newman - KeyBanc Capital Markets

Operator

Hello, and welcome to WESCO's Q3 2022 Earnings Call. [Operator Instructions] Please note that today's event is being recorded.

I would now like to 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 information 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 well as the company's SEC filings for additional risk factors and disclosures. Any forward-looking information we made 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 slide and in our press release, both of which are posted on our website at wesco.com.

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

Well, thank you, Scott, and good morning, everyone. It's a pleasure to be with you today. As you saw from our earnings release earlier this morning, we delivered another quarter of outstanding results, further demonstrating the substantial value-creation capability of the new WESCO. We once again set company records for margin, profitability and backlog and further reduced our leverage ratio in the third quarter. The power of our increased scale, expanded portfolio and industry-leading positions is clearly evident in our continued strong performance.

Strong demand and operational improvements are driving the record-setting performance across our company. Each of our three strategic business units again delivered strong sales and profit growth in the quarter, driven by the breakthrough results of our enterprise-wide cross-selling and gross margin improvement programs.