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Insight Enterprises(NSIT) - 2023 Q3 - Quarterly Report
2023-11-02 15:50
FORM 10-Q (Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 0-25092 INSIGHT ENTERPRISES, INC. (Exact name of registrant as specified in its charter) (State or other juris ...
Insight Enterprises(NSIT) - 2023 Q2 - Earnings Call Presentation
2023-08-04 21:03
◦ Safe harbor statement In some instances, the Company refers to changes in net sales, gross profit, earnings from operations and Adjusted earnings from operations on a consolidated basis and in North America, EMEA and APAC excluding the effects of fluctuating foreign currency exchange rates. In addition, the Company refers to changes in Adjusted diluted earnings per share on a consolidated basis excluding the effects of fluctuating foreign currency exchange rates. In computing these changes and percentages ...
Insight Enterprises(NSIT) - 2023 Q2 - Earnings Call Transcript
2023-08-04 21:03
Financial Data and Key Metrics Changes - The company reported a net revenue of $2.3 billion, a decrease of 14% year-over-year in U.S. dollar terms and constant currency, primarily driven by a significant decline in devices [94] - Gross profit declined by 1%, reflecting the hardware performance, partially offset by higher growth in cloud and Insight core services [12] - Adjusted diluted earnings per share was $2.56, down 8% in U.S. dollar terms year-over-year [13] - Adjusted return on invested capital (ROIC) for the trailing 12 months ended June 30, 2023, was 15.6% [15] - The company expects adjusted diluted earnings per share for the full year of 2023 to be between $9.40 and $9.60, reflecting a 4% increase at the midpoint compared to 2022 [16] Business Line Data and Key Metrics Changes - Cloud gross profit reached a record $115 million, an increase of 12%, driven by higher growth in SaaS and infrastructure as a service [13] - Insight core services gross profit grew by 7% year-over-year, reflecting growth in applications, data, digital enablement, and networking [77] - Hardware net sales declined by 24% year-over-year, significantly impacting overall results [11] Market Data and Key Metrics Changes - The company noted a further slowdown in client decision-making and an extension of the current economic environment, which is expected to continue throughout the year [24] - The public sector saw growth, but it only represents 14% of the company's business [45] Company Strategy and Development Direction - The company is focused on becoming the leading solutions integrator, emphasizing exceptional value delivery to clients and a deep understanding of technology [6][7] - The strategy includes four key pillars: captivating clients, selling solutions, delivering differentiation, and championing culture [6][54][71] - The company is implementing cost reductions to improve operational efficiency and preserve capital for key investments, including M&A [5][78] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a resurgence of buyer confidence and demand in the midterm, despite current challenges [70] - The company anticipates that the second half of the year will be better than the first half, with expectations of improved performance in Q4 [28][104] - Management acknowledged that the device market is near the bottom, expecting a lower rate of decline in the second half of 2023 [76] Other Important Information - The company repurchased approximately 720,000 shares for a total cost of $100 million in Q2, with over 1.6 million shares repurchased for $217 million in the first half of 2023 [14][79] - The company achieved a record gross margin of 18.4%, an increase of 240 basis points, reflecting a higher mix of cloud and Insight core services [95] Q&A Session Summary Question: What are the expectations for the second half of the year? - Management expects the second half to be better than the first half, with improved bookings and results so far in Q3 [28] Question: Can you provide details on cost reduction actions? - Cost reduction actions include headcount reductions and optimizing external vendor spend, with the goal of ensuring SG&A growth at a slower pace than gross profit growth [31][39] Question: What is the outlook for generative AI opportunities? - While significant interest exists, management believes that generative AI will not be a major revenue driver in the back half of the year but will set up opportunities for 2024 [112]
Insight Enterprises(NSIT) - 2023 Q2 - Quarterly Report
2023-08-03 14:17
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 0-25092 INSIGHT ENTERPRISES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdicti ...
Insight Enterprises(NSIT) - 2023 Q1 - Quarterly Report
2023-05-02 16:25
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 0-25092 INSIGHT ENTERPRISES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdict ...
Insight Enterprises(NSIT) - 2023 Q1 - Earnings Call Transcript
2023-05-02 16:25
Insight Enterprises, Inc. (NASDAQ:NSIT) Q1 2023 Earnings Conference Call May 2, 2023 9:00 AM ET Company Participants James Morgado - Senior Vice President of Finance Joyce Mullen - President and Chief Executive Officer Glynis Bryan - Chief Financial Officer Conference Call Participants Matthew Sheerin - Stifel, Nicolaus & Company, Inc. Joseph Cardoso - JPMorgan Chase & Co. Adam Tindle - Raymond James & Associates, Inc. Vincent Colicchio - Barrington Research Associates, Inc. Operator Hello, and a warm welco ...
Insight Enterprises(NSIT) - 2023 Q1 - Earnings Call Presentation
2023-05-02 13:05
This presentation will reference certain non-GAAP financial information as 'Adjusted'. A reconciliation of non-GAAP financial measures presented in this document to our actual GAAP results is attached to the back of this presentation and included in the press release issued today, which you may find on the Investor Relations section of our website at investor.insight.com. These non-GAAP measures are used by the Company and its management to evaluate financial performance against budgeted amounts, to calcula ...
Insight Enterprises(NSIT) - 2022 Q4 - Annual Report
2023-02-16 17:41
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) x Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2022 o Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________ to ___________. Commission File Number: 0-25092 INSIGHT ENTERPRISES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdicti ...
Insight Enterprises(NSIT) - 2022 Q4 - Earnings Call Transcript
2023-02-09 19:29
Insight Enterprises, Inc. (NASDAQ:NSIT) Q4 2022 Earnings Conference Call February 9, 2023 9:00 AM ET Company Participants James Morgado - SVP, Finance Joyce Mullen - President, CEO & Director Glynis Bryan - CFO Conference Call Participants Matthew Sheerin - Stifel, Nicolaus & Company Adam Tindle - Raymond James & Associates Anthony Lebiedzinski - Sidoti & Company Joseph Cardoso - JPMorgan Chase & Co. Vincent Colicchio - Barrington Research Associates Operator Ladies and gentlemen, welcome to the Insight Ent ...
Insight Enterprises(NSIT) - 2022 Q4 - Earnings Call Presentation
2023-02-09 15:28
Disclosures ◦ Non-GAAP measures In some instances, the Company refers to changes in net sales, gross profit and earnings from operations on a consolidated basis and in North America, EMEA and APAC excluding the effects of fluctuating foreign currency exchange rates. In computing these changes and percentages, the Company compares the current year amount as translated into U.S. dollars under the applicable accounting standards to the prior year amount in local currency translated into U.S. dollars utilizing ...