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Jun 30, 2021
Insight Enterprises Q2 2021 Earnings Report
Insight Enterprises reported second quarter 2021 results with increased net sales and earnings.
Key Takeaways
Insight Enterprises reported a strong second quarter with net sales increasing by 13% year-over-year to $2.23 billion. Gross profit also increased by 13% to $366.7 million. Diluted earnings per share increased by 20% year-over-year to $1.58, and adjusted diluted earnings per share increased by 9% to $1.91.
Net sales increased 13% year-over-year to $2.23 billion.
Gross profit increased 13% year-over-year to $366.7 million.
Earnings from operations increased 19% to $88.5 million, representing 4.0% of net sales.
Diluted earnings per share of $1.58 increased 20% year-over-year.
Insight Enterprises
Insight Enterprises
Insight Enterprises Revenue by Geographic Location
Revenue by Geographic Location
North America Revenue
CapyFin.comEMEA Revenue
CapyFin.comAPAC Revenue
CapyFin.com Forward Guidance
The Company now expects to deliver net sales growth at the high-end of the previously stated guidance, which was between 4% and 8% over the prior year, and Adjusted diluted earnings per share is now expected to be between $6.75 and $6.90 for the full year 2021.
Positive Outlook
- Net sales growth expected at the high-end of the previously stated guidance.
- Adjusted diluted earnings per share is now expected to be between $6.75 and $6.90.
- Interest expense between $25 million and $28 million.
- An effective tax rate of 25% to 26% for the full year 2021.
- An average share count for the full year of 35.5 million shares.
Challenges Ahead
- Ongoing supply chain constraints for hardware.
- Longer lead times required for hardware orders.
- Capital expenditures of $65 to $75 million, including the build out of our new corporate headquarters.
- Excludes acquisition-related intangibles amortization expense of approximately $32 million.
- Excludes the non-cash convertible debt discount and issuance costs, reported as part of interest expense, of approximately $12 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income