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Sep 30, 2023
ScanSource Q1 2024 Earnings Report
ScanSource's Q1 2024 results were announced, featuring strong cash flow and Intelisys growth despite a softer revenue environment.
Key Takeaways
ScanSource reported a decrease in net sales by 7.2% year-over-year, totaling $876.3 million for Q1 2024. Despite the revenue decline, the company experienced strong cash flow and growth in Intelisys net billings. The business fundamentals remain strong in a softer revenue environment.
Net sales decreased by 7.2% year-over-year to $876.3 million.
Specialty Technology Solutions net sales decreased by 11.6% year-over-year to $509.6 million.
Modern Communications & Cloud net sales decreased by 0.2% year-over-year to $366.7 million.
Intelisys net billings increased to approximately $2.51 billion annualized.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
ScanSource updated its expectations for the full fiscal year ended June 30, 2024. Net sales expected to be at least $3.8 billion. Adjusted EBITDA (Non-GAAP) is expected to be at least $170 million. Free cash flow is expected to be at least $200 million.
Positive Outlook
- Net sales: At least $3.8 billion
- Adjusted EBITDA (Non-GAAP): At least $170 million
- Free cash flow: At least $200 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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