Insight Enterprises Boosts FY22 Adj. EPS Outlook As Q2 Results Top Estimates
(RTTNews) - While reporting financial results for the second quarter on Thursday, technology company Insight Enterprises, Inc. (NSIT) raised its adjusted earnings guidance for the full year 2022, while maintaining annual net sales growth outlook.
For fiscal 2022, the company now projects adjusted earnings in a range of $8.55 to $8.75 per share on net sales growth in the low double digit percentage.
Previously, the company expected adjusted earnings in a range of $7.95 to $8.15 per share on net sales growth in the low double digit percentage.
On average, analysts polled by Thomson Reuters expect earnings of $8.05 per share on net sales growth of 11.60 percent to $10.54 billion for the year. Analysts' estimates typically exclude special items.
For the second quarter, the company reported net earnings of $89.18 million or $2.42 per share, up from $58.56 million or $1.58 per share in the year-ago quarter. Excluding items, adjusted earnings for the quarter were $2.78 per share, compared to $1.91 per share last year.
Total net sales for the quarter grew 23 percent to a new record of $2.74 billion from $2.23 billion in the prior-year quarter.
The Street was looking for earnings of $2.10 per share on revenues of $2.53 billion for the quarter.
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