ScanSource Q3 Results Miss Estimates; Trims FY24 Sales Outlook

RTTNews | 170 days ago
Stocktwits
ScanSource Q3 Results Miss Estimates; Trims FY24 Sales Outlook

(RTTNews) - Technology company ScanSource, Inc. (SCSC) reported Tuesday that net earnings for the third quarter decreased to $12.81 million or $0.50 per share from $21.22 million or $0.83 per share in the prior-year quarter. Excluding items, adjusted earnings were $0.69 per share, compared to $0.96 per share in the year-ago quarter.

On average, three analysts polled by Thomson Reuters expected the company to report earnings of $0.84 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter declined 15.0 percent to $752.60 million from $885.52 million in the same quarter last year. Analysts expected sales of $822.71 million for the quarter.

Looking ahead to fiscal 2024, the company now projects net sales of at least $3.3 billion, down from the prior forecast of at least $3.5 billion. The Street is looking for sales of $3.60 billion for the year.

ScanSource also announced a new $100 million authorization by its Board of Directors to purchase shares of the Company's common stock.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: SCSC
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ScanSource Q4 Results Miss Estimates; Guides FY25 Sales In Line With View

ScanSource Q4 Results Miss Estimates; Guides FY25 Sales In Line With View

Technology company ScanSource, Inc. (SCSC) reported Tuesday that net earnings for the fourth quarter decreased to $16.10 million or $0.64 per share from $17.10 million or $0.68 per share in the prior-year quarter. Excluding items, adjusted earnings were $0.80 per share, compared to $0.76 per share in the year-ago quarter.
RTTNews | 58 days ago
ScanSource Q2 Results Miss Estimates; Trims FY24 Sales Outlook

ScanSource Q2 Results Miss Estimates; Trims FY24 Sales Outlook

Technology company ScanSource, Inc. (SCSC) reported Tuesday that net earnings for the second quarter increased to $32.73 million or $1.29 per share from $25.73 million or $1.01 per share in the prior-year quarter. Excluding items, adjusted earnings were $0.85 per share, compared to $1.06 per share in the year-ago quarter.
RTTNews | 261 days ago
FTSE 100 Rallies On Rate Cut Hopes

FTSE 100 Rallies On Rate Cut Hopes

U.K. stocks rose notably on Thursday after Bank of England (BoE) Governor Andrew Bailey said that U.K. inflation is fading more rapidly than central bankers expected, boosting bets on another rate cut on Nov. 7.
RTTNews | 4h 3min ago
Eurozone Private Sector Activity Shrinks

Eurozone Private Sector Activity Shrinks

Eurozone private sector activity shrank moderately in October on continuing contraction in manufacturing, flash survey data from S&P Global showed on Thursday. The HCOB flash composite output index rose slightly to 49.7 in October from 49.6 a month ago. The reading was seen at 49.8. Business activity in the currency bloc dropped marginally for the second straight month.
RTTNews | 4h 8min ago
CAC 40 Climbs On Earnings

CAC 40 Climbs On Earnings

French stocks climbed on Thursday as upbeat earnings results outweighed signs of weakness in the economy.
RTTNews | 4h 24min ago
German Private Sector Downturn Eases In October

German Private Sector Downturn Eases In October

Germany's private sector downturn slowed marginally in October as output dropped at a slightly slower pace and business expectations picked up, the latest HCOB Purchasing Managers' survey compiled by S&P Global showed Thursday. The flash composite output index rose to 48.4 in October from September's seven-month low of 47.5. The score was also above forecast of 47.6.
RTTNews | 4h 31min ago
DAX Gains On Economic Optimism

DAX Gains On Economic Optimism

German stocks traded higher on Thursday after a business survey showed German business activity contracted less steeply than the previous month in October.
RTTNews | 4h 43min ago
Asian Shares Mostly Lower On US Election Uncertainty

Asian Shares Mostly Lower On US Election Uncertainty

Asian stocks ended mostly lower on Thursday as rising yields on uncertainty over the U.S. election outcome weighed on the tech sector. Tesla's forecast-beating earnings provided some comfort for investors, helping limit regional losses.
RTTNews | 4h 58min ago
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