Insight Enterprises Reaffirms FY24 Adj. EPS Outlook; Q2 Results Miss Estimates

(RTTNews) - While reporting financial results for the second quarter on Thursday, technology company Insight Enterprises, Inc. (NSIT) reaffirmed its adjusted earnings guidance for the full year 2024.

For fiscal 2024, the company continues to project adjusted earnings in the range of $10.60 to $10.90 per share. On average, five analysts polled by Thomson Reuters expect earnings of $10.75 per share on net sales growth of 7.50 percent to $9.86 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company reported net earnings of $87.44 million or $2.27 per share, up from $80.48 million or $2.17 per share in the year-ago quarter. Excluding items, adjusted earnings for the quarter were $2.46 per share, compared to $2.56 per share last year.

Total net sales for the quarter decreased 8 percent to $2.16 billion from $2.35 billion in the prior-year quarter.

The Street was looking for earnings of $2.82 per share on revenues of $2.47 billion for the quarter.

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