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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.
ScanSource
ScanSource
ScanSource Revenue by Segment
ScanSource Revenue by Geographic Location
Revenue by Segment
Specialty Tech Solutions Revenue
CapyFin.comRevenue by Geographic Location
U.S. & Canada Revenue
CapyFin.comBrazil and Intl. Revenue
CapyFin.com 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