Wesco beats by $0.05, beats on revs; narrows FY16 guidance :
- Reports Q2 (Jun) earnings of $1.02 per share, excluding non-recurring items, $0.05 better thanthe Capital IQ Consensus of $0.97; revenues fell 0.3% year/year to $1.91 bln vs the $1.87 bln Capital IQ Consensus.
- Co narrows guidance ranges for FY16, sees diluted EPS of $3.85-4.10 (prior $3.75-4.20) vs. $3.99 Capital IQ Consensus Estimate. Narrows FY16 sales guidance to be down 2% to flat (prior $7.1-7.5 bln)
- Full year outlook excludes any impact from the potential redemption of the previously announced convertible bonds
- Expects weakness in commodity-driven end markets and foreign exchange headwinds to continue into the second half of this year.
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