ScanSource Q1 record EPS $0.94; net sales +10% to $943.8M; director Grainger to retire

SCANSOURCE, INC.

2023-Q1 EPS reported $0.94 revenue$943,813,000

GAAP diluted EPS of $0.94 (record), up 9% YoY; Non-GAAP diluted EPS of $1.07, up 8%.
Net sales $943.8M, +10.1% YoY; gross profit $113.5M, +11.7%; gross margin 12.02%.
Specialty Technology Solutions net sales +14.9% to $576.3M; Modern Comm & Cloud +3.3% to $367.5M.
FY23 outlook reaffirmed: net sales growth at least 5.5%, adjusted EBITDA at least $174M.
Director Mike Grainger to retire at Jan 26, 2023 annual meeting; Board to reduce to eight members.

item 2.02 item 5.02 item 9.01

Executive movements

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Departed

Michael Grainger

Director

SCSC · SCANSOURCE, INC.

Filed: November 8, 2022, 6:59 PM ET

Michael Grainger, who has served on the Board since 2004, notified the Board that he plans to retire from the Board when his current term of office expires at the next Annual Meeting of Shareholders.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SCANSOURCE, INC. updated its fiscal year 2023 guidance (reaffirmed).

Period: fiscal year 2023
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

ScanSource reaffirms previously provided guidance set forth below for the full fiscal year ended June 30, 2023.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SCANSOURCE, INC. reported first quarter ended September 30, 2022 results: revenue $943.8 million, net income $24.0 million, EPS $0.94.

Period: first quarter ended September 30, 2022
Revenue: $943.8 million
Net income: $24.0 million
EPS: $0.94
Result: reported results

Exact text from the filing

Net sales for the first quarter of fiscal year 2023 totaled $943.8 million, up 10.1% year-over-year, with strong growth in North America.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Grainger departed as Director at SCANSOURCE, INC..

Action: plans to retire
Role: Director

Exact text from the filing

Michael Grainger, who has served on the Board since 2004, notified the Board that he plans to retire from the Board when his current term of office expires at the next Annual Meeting of Shareholders.

View on SEC.gov

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SCANSOURCE, INC. filing history →

Source: SEC EDGAR

accession 0000918965-22-000024

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