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Sep 30, 2024
Insight Enterprises Q3 2024 Earnings Report
Insight Enterprises' third quarter results were reported, with gross profit increasing and net sales decreasing year over year.
Key Takeaways
Insight Enterprises reported a decrease in net sales by 8% year over year to $2.1 billion, while gross profit increased by 6% to $432.1 million. Diluted earnings per share decreased by 6% to $1.52, and adjusted diluted earnings per share decreased by 8% to $2.19.
Gross profit increased 6% year over year to $432.1 million, with gross margin expanding 270 basis points to 20.7%.
Insight Core services gross profit grew 14% year over year.
Cloud gross profit grew 33% year over year.
Consolidated net earnings decreased 3% year to year to $58.2 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the full year 2024, the company expects Adjusted diluted earnings per share to be between $9.40 and $9.70. They also expect to deliver mid single-digit gross profit growth and continue to expect that our gross margin will be in the 19% to 20% range.
Positive Outlook
- Adjusted diluted earnings per share to be between $9.40 and $9.70.
- Deliver mid single-digit gross profit growth
- Gross margin will be in the 19% to 20% range.
- Interest expense of $58 to $60 million.
- Capital expenditures of $35 to $40 million.
Challenges Ahead
- Effective tax rate of approximately 25.5% for the full year.
- Outlook excludes acquisition-related intangibles amortization expense of approximately $70 million
- Assumes no acquisition or integration related expenses
- Assumes no transformation or severance and restructuring expenses, net
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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