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Mar 31, 2023
PC Connection Q1 2023 Earnings Report
Connection's Q1 2023 performance was impacted by customer caution amidst economic uncertainty, resulting in decreased sales and net income despite growth in specific sectors and record gross margin.
Key Takeaways
Connection (PC Connection, Inc.) reported a decrease in net sales by 7.7% year-over-year to $727.5 million for Q1 2023. Net income also decreased by 34.8% to $14.2 million, with diluted EPS down 34.9% to $0.54. Adjusted EPS decreased by 31.9% to $0.56. Despite overall declines, the company saw growth in software, security, and networking solutions, leading to a record first-quarter gross margin.
Net sales decreased by 7.7% year-over-year, totaling $727.5 million.
Net income decreased by 34.8% year-over-year, reaching $14.2 million.
Diluted EPS decreased by 34.9% year-over-year, amounting to $0.54.
Gross margin expanded by 53 basis points to 16.8%.
Revenue by Segment
Forward Guidance
This report does not contain forward guidance. Therefore, I cannot complete this section.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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