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Jun 30, 2022
ScanSource Q4 2022 Earnings Report
Reported strong demand and outstanding execution by the team.
Key Takeaways
ScanSource reported a strong Q4 with net sales increasing by 12.9% year-over-year and gross profit increasing by 15.7% year-over-year. The company's hybrid distribution strategy of devices and digital is proving successful, as evidenced by the net sales growth and record adjusted EBITDA.
Net sales for the fourth quarter of fiscal year 2022 totaled $962.3 million, up 12.9% year-over-year.
Gross profit for the fourth quarter of fiscal year 2022 totaled $110.8 million, up 15.7% year-over-year.
Operating income increased to $27.4 million from $23.3 million in the prior-year quarter.
Adjusted EBITDA for the fourth quarter of fiscal year 2022 increased 9.6% to $38.7 million.
ScanSource
ScanSource
Forward Guidance
The following guidance is based on ScanSource's current expectations 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
Challenges Ahead
- These statements are forward-looking, and actual results may differ materially.
- ScanSource’s outlook does not include the potential impact of any business combinations, asset acquisitions, divestitures, strategic investments, or other significant transactions that may be completed after the date hereof.
- failure to hire and retain quality employees
- risk to the Company's business from a cyber-security attack, supply chain challenges
- the failure to manage and implement the Company's organic growth strategy, economic weakness and inflation, a failure of the Company's IT systems, a failure to acquire new businesses