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Mar 31, 2024
ScanSource Q3 2024 Earnings Report
Reported a decrease in net sales but delivered strong margins and robust free cash flow.
Key Takeaways
ScanSource reported a decrease in net sales for the third quarter of fiscal year 2024, with net sales totaling $752.6 million, a 15.0% decrease year-over-year. However, the company's resilient business model delivered strong margins and robust free cash flow. The company announced a new $100 million share repurchase authorization.
Net sales decreased by 15.0% year-over-year to $752.6 million.
Gross profit decreased by 15.5% year-over-year to $94.5 million, with a gross profit margin of 12.55%.
GAAP net income totaled $12.8 million, or $0.50 per diluted share, compared to $21.2 million, or $0.83 per diluted share, for the prior-year quarter.
The company generated $157.7 million of free cash flow in the third quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
ScanSource updates its expectations for the full fiscal year ending June 30, 2024.
Positive Outlook
- Net sales are expected to be at least $3.3 billion.
- Adjusted EBITDA (non-GAAP) is expected to be at least $140 million.
- Free cash flow (non-GAAP) is expected to be at least $275 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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