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Mar 31, 2024
PC Connection Q1 2024 Earnings Report
PC Connection's first quarter results decreased year-over-year due to macroeconomic conditions and delayed customer spending, but gross margin increased.
Key Takeaways
PC Connection reported a decrease in net sales and net income for the first quarter of 2024 compared to the previous year, while gross margin improved. Customers delayed I-T capital spending due to the macroeconomic backdrop and their on-going evaluation of A-I implementation strategies.
Net sales decreased by 13.1% year-over-year to $632.0 million.
Gross profit decreased by 3.5% year-over-year to $118.1 million, but gross margin increased to 18.7%.
Net income decreased by 7.4% year-over-year to $13.2 million, with diluted EPS at $0.50.
Business Solutions segment net sales decreased by 6.3% to $255.9 million.
Revenue by Segment
Forward Guidance
No forward guidance was provided in the earnings report.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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