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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.
In order to be eligible to join the WCC class action lawsuit, you must have incurred a loss on shares of WESCO purchased during the class period listed above.
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