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Dec 31, 2023
ScanSource Q2 2024 Earnings Report
Achieved strong Q2 cash flow and Intelisys growth.
Key Takeaways
ScanSource reported a decrease in net sales and gross profit, but an increase in GAAP net income and EPS. Strong cash flow and Intelisys recurring revenue growth were highlights.
Net sales decreased by 12.5% year-over-year to $884.8 million.
GAAP net income increased by 27.2% year-over-year to $32.7 million, or $1.29 per diluted share.
Operating cash flow was $63.2 million, a significant increase from the prior year.
Intelisys net billings increased to approximately $2.64 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 updates its expectations for net sales and adjusted EBITDA for the full fiscal year ending June 30, 2024.
Positive Outlook
- Free cash flow at least $200 million
Challenges Ahead
- Net sales at least $3.5 billion (previously at least $3.8 billion)
- Adjusted EBITDA at least $155 million (previously at least $170 million)