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Sep 30, 2022
ScanSource Q1 2023 Earnings Report
Delivered outstanding Q1 performance with 10% net sales growth driving record earnings per share.
Key Takeaways
ScanSource had an outstanding start to its fiscal year, delivering 10% net sales growth and record earnings per share. The exceptional performance is a result of strong demand and working capital investments to meet the needs of channel partners.
Net sales for the first quarter of fiscal year 2023 totaled $943.8 million, up 10.1% year-over-year, with strong growth in North America.
First quarter fiscal year 2023 net sales in the Specialty Technology Solutions segment increased 14.9% year-over-year to $576.3 million.
First quarter fiscal year 2023 net sales in Modern Communications & Cloud increased 3.3% year-over-year to $367.5 million.
Gross profit for the first quarter of fiscal year 2023 totaled $113.5 million, up 11.7% year-over-year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
ScanSource reaffirms previously provided guidance for the full fiscal year ended June 30, 2023.
Positive Outlook
- Net sales growth, year-over-year: At least 5.5%
- Adjusted EBITDA (non-GAAP): At least $174 million
- GAAP, Operating income: At least $132 million
- Intangible amortization: $17 million
- Depreciation expense: $12 million
Challenges Ahead
- Share-based compensation expense: $12 million
- Interest income and other income (expense), net: $1 million
- Outlook does not include the potential impact of any business combinations
- Outlook does not include asset acquisitions
- Outlook does not include divestitures
Historical Earnings Impact
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Avg. Return Before/After Earnings
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