secwatch / observer
8-K filed November 9, 2023, 6:59 PM ET ticker SCSC CIK 0000918965
earnings confidence high sentiment neutral materiality 0.80

ScanSource reports Q1 FY24 results: net sales down 7.2%, EPS down 35%; lowers EBITDA guidance

SCANSOURCE, INC.

2024-Q1 EPS reported $0.61 revenue$876,305,000

Executive movements

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Departed

Charles R. Whitchurch

Director
SCSC · SCANSOURCE, INC.
Filed
November 9, 2023, 6:59 PM ET
On November 6, 2023, Charles R. Whitchurch, who has served on the Company's Board of Directors (the "Board") since 2009, 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 ended June 30, 2024 guidance (lowered).

Period
fiscal year ended June 30, 2024
Guidance
lowered
Result
guidance update
Exact text from the filing
ScanSource updates its expectations for the full fiscal year ended June 30, 2024 and replaces previously provided guidance. FY24 Annual Outlook Prior FY24 Annual Outlook Net sales At least $3.8 billion Net sales growth: At least 3% Adjusted EBITDA (Non-GAAP) At least $170 million At least $180 million Free cash flow At least $200 million At least $150 million
View on SEC.gov
Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SCANSOURCE, INC. reported first quarter ended September 30, 2023 results: revenue $876,305, net income $15,432, EPS $0.61 per diluted share.

Period
first quarter ended September 30, 2023
Revenue
$876,305
Net income
$15,432
EPS
$0.61 per diluted share
Result
reported results
Exact text from the filing
results for the first quarter ended September 30, 2023. First Quarter Summary Q1 FY24 Q1 FY23 Change (in thousands, except per share data) Select reported measures: Net sales $ 876,305 $ 943,813 -7.2% Gross profit $ 106,508 $ 113,485 -6.1% Gross profit margin % 12.15 % 12.02 % 13bp Operating income $ 24,084 $ 34,888 -31.0% GAAP net income $ 15,432 $ 24,042
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Charles R. Whitchurch departed as Director at SCANSOURCE, INC..

Action
retire
Role
Director
Exact text from the filing
On November 6, 2023, Charles R. Whitchurch, who has served on the Company's Board of Directors (the "Board") since 2009, 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 0000918965-23-000030
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