WESCO International, Inc. (NYSE:WCC) Q2 2022 Results Conference Call August 4, 2022 10:00 AM ET

Company Participants

Scott Gaffner - SVP, IR

John Engel - Chairman, President & CEO

David Schulz - EVP, CFO

Conference Call Participants

David Manthey - Baird

Deane Dray - RBC Capital Markets

Ken Newman - KeyBanc

Nigel Coe - Wolfe Research

Sam Darkatsh - Raymond James

Tommy Moll - Stephens

Operator

Hello, and welcome to WESCO's Second Quarter Earnings Call. [Operator Instructions] Please note that this event is being recorded.

I would now hand the call over to Scott Gaffner, Senior Vice President of Investor Relations to begin.

Scott Gaffner

Thank you, and good morning, everyone. Before we get started, I wanted 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 well as the company's SEC filings for additional risk factors and disclosures. Any forward-looking information related 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 in our webcast slides and in our press release, both of which are posted on our website at wesco.com.

On this 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 it over to John.

John Engel

Thank you, Scott. Good morning, everyone. It's a pleasure to be with you today. As you saw from the earnings release earlier this morning, the beat goes on in terms of the value creation of WESCO's good new business model as we passed the second anniversary of our transformational combination with Anixter. Our second quarter results were exceptional. We once again set new company records for sales, backlog, margin and profitability.

Importantly, leverage is now back within our target range, and it's a full year earlier than what we guided the market to expect after we completed the Anixter merger in June 2020. Our momentum continues to build as we outperform the market and deliver superior value to our customers. The power of our newfound scale, expanded portfolio and industry-leading positions is made clear each and every quarter. Strong demand in our end markets continues. Each of our 3 strategic business units again delivered double-digit sales and profit growth in the quarter, driven by the ongoing success of our enterprise-wide cross-selling and gross margin improvement programs.