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Sep 30, 2022
Insight Enterprises Q3 2022 Earnings Report
Insight Enterprises reported solid results driven by double-digit gross profit growth and continued strength in cloud solutions.
Key Takeaways
Insight Enterprises, Inc. reported a 4% increase in net sales, a 10% increase in gross profit, and a 9% increase in earnings from operations compared to the third quarter of 2021. Diluted earnings per share increased by 5% year over year to $1.58, and adjusted diluted earnings per share increased by 6% year over year to $1.99.
Gross profit increased 10% year over year to $399.3 million.
Earnings from operations increased 9% year over year to $90.3 million.
Adjusted earnings from operations increased 14% year over year to $107.1 million.
Diluted earnings per share of $1.58 increased 5% year over year.
Insight Enterprises
Insight Enterprises
Insight Enterprises Revenue by Segment
Insight Enterprises Revenue by Geographic Location
Revenue by Segment
Hardware Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comEMEA Revenue
CapyFin.comAPAC Revenue
CapyFin.com Forward Guidance
For the full year 2022, the Company expects to deliver low double digit net sales growth and Adjusted diluted earnings per share is expected to be between $8.65 and $8.75.
Positive Outlook
- Expects to deliver low double digit net sales growth
- Adjusted diluted earnings per share is expected to be between $8.65 and $8.75
- Assumes interest expense between $35 and $40 million
- Assumes an effective tax rate of 25% to 26% for the full year 2022
- Capital expenditures of $65 to $70 million
Challenges Ahead
- This outlook assumes interest expense between $35 and $40 million.
- This outlook assumes an effective tax rate of 25% to 26% for the full year 2022.
- This outlook assumes capital expenditures of $65 to $70 million.
- This outlook assumes an average share count for the full year of 35.1 to 35.2 million shares after an estimated partial completion of our planned repurchase under our current authorization.
- This outlook excludes acquisition-related intangibles amortization expense of approximately $33 million, assumes no acquisition or integration related, transformation or severance and restructuring expenses, and no significant change in our debt instruments.