Insight Enterprises, Inc. (NSIT) reaffirmed its adjusted earnings forecast for the full fiscal year 2024 while announcing its second-quarter financial results on Thursday.
For fiscal year 2024, the technology company continues to anticipate adjusted earnings in the range of $10.60 to $10.90 per share. According to the consensus of five analysts surveyed by Thomson Reuters, earnings are expected to average $10.75 per share, supported by a projected net sales growth of 7.50 percent, reaching $9.86 billion. It is noted that analysts' projections typically exclude special items.
In the second quarter, Insight Enterprises reported net earnings of $87.44 million, or $2.27 per share, marking an increase from $80.48 million, or $2.17 per share, in the same period the previous year. After adjusting for special items, earnings stood at $2.46 per share, compared to $2.56 per share for the corresponding period last year.
Total net sales for the quarter saw a decline of 8 percent, dropping to $2.16 billion from $2.35 billion in the year-ago quarter.
Wall Street analysts had anticipated earnings of $2.82 per share on revenues of $2.47 billion for the quarter.
